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But they've basically replaced that with a free version. Turbotax makes a lot of money off up-selling. Turbotax even has an option where you can do your tax return now, and have Turbotax file it automatically in April without you ever thinking about it again (which I recommend if you owe money). Perhaps if you owe money you might be able to delay their withdrawing it from your bank account by a few days by doing so. If for some reason you WANT to paper file, you still can. No printing, stamping, addressing, walking out to the mailbox, etc. You don't have to deal with your state website, or fill out any new online forms. That process is literally a click of the mouse with Turbotax. It's easier for them, easier for you, more accurate, and you get your refund faster. It's no secret that the IRS and your state tax commission want you to e-file. Aside from having an inaccurate return, possibly losing me money or even triggering an audit, miscalculations also mean I have to do re-do more forms, which can be immensely time-consuming. It shouldn't surprise you that Turbotax makes fewer math errors than I do. But when you have dozens of calculations, all dependent on one another, one little error screws up everything else. I always received good grades in math, at least until college calculus (it was still a B, but I'm not sure I deserved even that). But either way, Turbotax has an option for you. I use it to speed up the process and make it more accurate. I don't use Turbotax because I don't know what's deductible. If you already understand the basics of the tax code, that's a real shortcut. You can either have them lead you by the hand and ask you dozens of questions about each item, or you can “explore on your own”. Turbotax allows you two options as you go through their “Income” section and their “Deductions” section. I'm surprised how much stuff you get to skip after year one: Addresses, sources of income, deductions, bank account numbers…anything that remains the same year to year is imported directly in. I've used Turbotax multiple years in a row. Too bad they couldn't do that with my very complicated federal tax return. In fact, this simple feature allowed my state tax return(s) to be done in something like 2 minutes. With Turbotax, I just log-in, change one number, and the program changes a half-dozen other forms instantaneously. But every time I remembered something new I could deduct, I had to go back and re-do at least one form.

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That was a wonderful way to learn the tax code and become familiar with the 1040 and the various schedules and forms. I bet we haven't made $200 in 7 years from it.ħ Things I Still Love About Turbo Tax in 2020 #1 Easy to Re-do forms That's called “affiliate marketing”, but this partnership hasn't been too profitable for us over the years. But before we go on, you need to be aware that I get a buck or two from Turbotax if you buy it using links on this page. I've been using Turbotax for the last decade to do my taxes and this post explains why I like it so much. Physician Wellness and Financial Literacy Conference – Park City.Continuing Financial Education – Las Vegas.Financial Wellness and Burnout Prevention for Medical Professionals.

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