It’s never too early to get started on your taxes. TurboTax 2010 is the latest installment of the popular TurboTax series by Intuit. Instead of spending hundreds of dollars on an accountant, use its step-by-step directions to file your taxes from home…
TurboTax is handy because it determines which tax deductions you are eligible for as you go along. Because it can catch tax deductions you or your accountant might not be aware of, it pays for itself. It can also determine your risk of being audited and tell you what to do if your tax status has changed in the past year (divorce, new home, etc.). Finally, TurboTax saves time because it has an eFile feature for filing electronically and also computes your state taxes.
The software also comes with free over-the-phone tax support, scans for errors and automatically updates when tax laws change. There are a number of versions depending on your individual needs:
TurboTax Deluxe- Fits most people’s needs.
TurboTax Home & Business Federal- Perfect for small businesses owners.
TurboTax Basic- Good if you need help with federal taxes only.
Of course, tax software isn’t a substitute for sound professional advice. Those in less complicated situations (single income, college student, etc.) can probably do fine without TurboTax as well. But anyone else who values their sanity during tax season should give it a try.