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Article added or updated:
01/06/2008 |
Turbo Tax - Tax Accounting Software Basic Overview
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Turbo Tax Deluxe 2003
by Sandy Berger
Last year I could not recommend TurboTax because of an errant activation
process. This year the activation is completely gone and I commend
Intuit for a program that is both user-friendly and effective. Many
companies feel that when they announce a new version of their product
they must add new features. This often results in a bloated program that
few can understand. Intuit controlled the urge to add new features and
instead honed their program with subtle changes that improved upon a
solid base.
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Installation of the program
is easy. During installation you are prompted to update the program. It
is a good idea to go ahead and perform the update at that time so you
won’t be bothered later when you get into the actual tax information. As
usual, TurboTax’s EasyStep interview walks you through the process of
creating your tax return. This year there are more interactive interview
topics. More complex topics are covered in videos by experts.
I am most impressed with the Help section that now allows
natural-language queries. Being able to ask questions in everyday
language is a bon for everyday folks like me who are not extremely well
versed in financial terminology. Helpful Frequently Asked Questions
appear on many of the programs screens. Financial terms are hyper-linked
to definitions. TurboTax gets my Compu-KISSâ seal of approval for
explaining complex financial concepts in clear, concise language.
Taxpayers who import data from last year’s TurboTax program are greeted
with a new Welcome Back screen. The program then decides what data from
last year is applicable to this year and asks for the user’s approval to
use that data. TurboTax then asks about changes from last year and based
on the user’s answers, TurboTax custom tailors the rest of the
interview. If you use Quicken, Quick Books, or Microsoft Money for your
financial accounting, you can easily import your data into TurboTax. You
can also import data from third party services, such as payroll
information or financial institutions. These processes make entering
your tax data easier than ever. Tax forms can be sent to your printer or
sent directly to the IRS online.
The hardest part about doing your taxes with TurboTax may be which
version to choose. Most users will be better off with TurboTax Deluxe,
which includes the state tax product rather than the TurboTax Basic
program. TurboTax Premier and TurboTax Premier Home & Business also
includes the state tax program along with other features. Check the
Intuit Web site for details to help with your decision. Just click on
“Compare TurboTax Products” at the bottom of the left menu. You can also
choose from several versions of TurboTax on the Web which is all online
with no software to download.
Intuit offers online technical support through help screens and a free
live chat with TurboTax representatives. Unfortunately, telephone
support is $19.95 per call.
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As always, please check with your tax professional,
CPA or lawyer
prior to acting on any advice found here. We do NOT dispense advice on
any articles contained here.
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