TurboTax is a financial application designed for US and Canadian taxpayers. It guides its users through completing their taxes online step-by-step. Thus, saving their time and reducing the necessity of visiting the tax office. The application offers a variety of tools and features to get the most out of tax filing and returns. TurboTax is a good choice for making simple tax calculations.

System requirements

For optimal performance, you should have the 10.9 version or higher, at least RAM 1 GB, and a compatible inkjet or laser printer if tax forms printing out is supposed.

Tools and functionality

The application has helpful tools and resources for preparing, filing taxes accurately, and maximizing refunds. TurboTax covers all tax situations, including filing as a head of household, student, investor, rental owner, etc. It's a paid service. There is a free version for filing simple tax returns, like IRS standard deduction, child tax credits, student loan interest deduction, etc. Check if you qualify.

Some of TurboTax's valuable tools include:

• The TaxCaster TaxCalculator is excellent for getting prepared for tax season. It calculates the user's taxable income, credits, and deductions and estimates the taxes owned. When your life changes, the TaxCaster Tax Calculator makes it easy to report the changes.

• The W-4 Withholding Calculator allows calculating an income tax withholding to get the most refund possible.

• The Self-Employed Expense Estimator helps to estimate your expenses as a self-employed individual and helps calculate your estimated tax liability.

• The Reduction Finder tool helps to identify the deduction and tax breaks that can save money and get the most out of the tax return.

• The Document Checklist is designed to keep all the documents you need for filing your taxes. It includes documents like W-2 forms and others related to taxes.

• Additionally, the app contains educational resources and tax video tips. So, you can prepare and e-file your taxes with straightforward calculations. But if your tax situation is complex, the team of TurboTax experts is always available to help.

Conclusions

TurboTax is an excellent tool for managing personal finances and e-filing taxes. It is user-friendly and offers a variety of features to help you maximize your tax return. TurboTax is definitely worth considering if you are looking for an easy-to-use tax preparation software solution for simple calculations.