What is Quicken TurboTax?

TurboTax and TurboTax Deluxe is a software program that enables me (the taxpayer) to file my income tax return the first week of February (but YOU have time till April 15th! any given year) at minimal cost, and without leaving the home!


How does it work?

1. The TurboTax EasyStep® Interview wizard asks straightforward questions about your tax situation, performs all tax calculations, and enters the given information onto the correct tax forms.

2. After the questions are all answered, TurboTax reviews your return for errors. If any errors are detected, the program shows you automatically how to correct them.

3. After the questionnaires are error free, TurboTax shows you how to file your tax return electronically or by mail.


System Requirements:

1. Microsoft® Windows® XP, Windows ME, Windows 2000, Windows 98, 95, or NT® 4.0.

2. Any Pentium® processor.

3. 16MB of RAM To install and run TurboTax.

4. 50MB of free hard disk space to install and run software.

5. Up to 80MB of addl. disk space is required if you do not have Internet Explorer 5.5, which TurboTax then would install automatically from the CD-ROM.

6. Minimum of 28.8 kbps modem and Internet access to use TurboTax Internet features

7. 2X CD-ROM drive (4X CD-ROM recommended!)

8. SVGA video card with a minimum of 256 colors

9. Sound card and speakers to hear the audio portion of TurboTax's videos.

10. Windows compatible printer (you cannot use a dot-matrix printer to print your return!)



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Much of the work is done automatically. If I have any tax questions, help is available either directly from the Tax Library from within the program, and through video presentations from the CD-ROM giving a brief statement on pertinent tax info, tips, changes of tax law, or I can click on help links for assistance.

Data entry is easy, I just fill in the blanks! I reminds me of the yellow books for "Dummies?" Well, in my opinion, this program ought to be subtitled, Tax Return Prep for Dummies...or so. It's incredible how TurboTax makes the dreaded annual chore of filing taxes so simple!


Professional Tax preparation services or paperwork?

Having used a well known paid tax preparation service in the past, I had to pay the high cost of filing my federal and state tax returns. I always hated paying taxes, and I always hated having to give up another chunk of my hard earned money to the agency for tax preparation services. To avoid these fees, I resorted to preparing my annual federal and state tax returns myself, but it took picking up the necessary filing paperwork at the local post office, and painstakingly working my way though worksheets in order to maximize deductions and finding all applicable tax credits. The process was unbelievably time consuming and difficult! But it cost me nothing, nada, zip, zero, zilch except the aggravation.

What I always found the most time consuming when preparing my own tax returns, was to understand the newest Tax Laws each year, and how to maximize my Tax Deductions, Investments, Home and Family/Education, Small Business expenses. If I donated goods to charity in a given year, I needed to make sure I maximized those deductions as well. Though job if you aren't trained to do so!


Answer to prayer!

Then I discovered the TurboTax software. It seemed to me like the answer to a prayer, and a gift to the American taxpayer! The purchase price was very low, rebates and other incentives were offered, and state income tax filing was included in the Quicken TurboTax Deluxe package. How could I go wrong?


Cost:

I purchased my first Quicken TurboTax Deluxe in 2000 for the year 1999 to do my own taxes on my PC for $24.99 plus FREE State after rebate. The following year I picked up the boxed version again at COSTCO, same price, and this year I responded to a mailing received from Intuit, Inc., and purchased Quicken TurboTax Deluxe 2001 by mail, which cost me a total of $39.95, but it included the free state product, and I also received a free Hasbro Trivial Pursuit Millennium Edition CD-ROM. A new feature has been added to TurboTax Deluxe this year which automatically calculates the credit for taxes paid to another state (nonresident state returns) and adds them into the resident state return!


Installation:

Installation of TurboTax Deluxe is always easy and straightforward. The software comes with a detailed step-by-step QuickStart Guide. I usually don't need it! I start by disabling my virus-protection program running on my computer to avoid installation problems. (Please also read my Symantec Norton AntiVirus 2002 review!) Then I just put the TurboTax CD-ROM into the CD-ROM drive and a dialog box opens that asks me if I want to install TurboTax.

I click "Yes" and continue to follow the instructions on my screen. It installs flawlessly under my Microsoft Windows XP, and runs without causing any problems. Since I use DSL for Internet connection, I should point out to those who have Internet access via a dial-up modem, that they should be prepared to connected to the Internet, because the first thing the TurboTax program will do after successful installation is to prompt you to check for latest updates.

The next thing you might want to do is to download your TurboTax State tax product, because TurboTax State products have a different release schedule than TurboTax federal products.

After the TurboTax software is installed, I find a new 50.9MB folder labeled Tax01 on my local hard drive (default directory is C:\Tax01\) and two new icons on my desktop.

One takes you directly to the Live Tax Advice Center at http://www.keen.com/documents/intuit_seeker/turbotax.asp?TID=AyialplnLzKVWsYRgOgYLg
where you can get advise by phone or email on topics such as Withholding Status/ General Filing, Tax Law Changes, IRA's/401k, Home Office, Real Estate, Family/Dependents, Employment, Corporations/Partnerships, Investments, Tax Planning, Stocks & Bonds, Retirement, Small Business, and reviews. It seems easy to connect to a live adviser, but I never used it, because it costs additional money to use (between $1.50 and $2.00 per minute,) and basically all this is covered by the Quicken TurboTax Deluxe software anyway.

The other one is the TurboTax icon which starts the program to get me going on my federal and state tax return.


Getting started:

Clicking the TurboTax icon on your desktop (or from the Start menue) starts the program. A really handy feature is that I don't have to do all the work at once. If I do only part of the data entry job everything is saved, and next time I click the TurboTax icon, the program lets me continue my return where I last left off!

I can also jump to a different section of my return at any time; back and forth navigation is easily done with the EasyStep progress bar buttons on top of each page.

As I continue the TurboTax EasyStep Navigator allows searches for a certain topic and continues listing a plethora of pertinent links on the right hand panel.


Layout:

Anything that's needed can be spotted at a glance. The Interface's basic colors are shades of light to slate gray, deep blues, and white, which has not changed over the past three years. As I continue, the TurboTax EasyStep Navigator allows me searches for a certain topic or lets me click on a certain topic from the Index list below that.

The Interface is well laid out. It's easy to comprehend and to follow, as everything is well organized. At the very top you find a gray tool bar that looks very much like any browser's toolbar. The buttons are labeled File, Edit, Forms, EasyStep, Tools, Online, Window, and Help. If you click them, the fold out menu appears offering further choices.

Right below that, separated by a bar of navy blue, is the earlier mentioned EasyStep progress bar. It consists of numbered buttons that are connected and follow a logical sequence of tax return preparation like a flow sheet: 1. Personal Info, 2. Income, 3. Deductions, 4. Taxes/Credits, 5. Misc, 6. Final Review, 7. State Taxes, 8. Print & File.

The EasyStep Navigator feature appears on the screen to guide me along, when anyone of these buttons is clicked. It pops up over the screen I currently work on, and closes again, when done. It offers a search for a related topic, or jump to a topic from an index list below the search box. Searching is easily done by typing a key word into the blank textbox. The EasyStep Navigator can be closed at any time by clicking the [X] button in the upper right hand corner.

Back on the work screen, on the right hand side I see a link bar on gray background. These links change from page to page, depending on which step I am currently working on, for example on step one, there was a "Need Help," and "Live Tax Advise" button, and many links addressing frequently asked questions, such as "How do I start my federal return," and "How do I start my state return."

The program helps me to compile all info the IRS needs, for my federal AS WELL AS state refund, and guides me through my return step by step; as mentioned before, back and forth navigation is incredibly simple! The software keeps track of which steps I have taken, and which ones were skipped. TurboTax does, and checks all the calculations, checks for errors, or overlooked items, and it compares and verifies the validity and accuracy of all data I entered, for example, the correct spelling of my family member's names, and Social Security Numbers. I don't need to pay mega-bucks any longer for tax preparation services, and I don't need to sit endless hours to double check everything! Neat - huh?


Finishing up:

Once finished TurboTax lets me either file my federal and state tax return electronically or prints the paperwork to file by mail. There also is the option to get an E-file Quick Cash Loan from the Santa Barbara Bank & Trust against your refund in as little as 2-3 days for those in a hurry. But that's not available in all states and where is, it's gonna cost ya!

I always file electronically, but print out everything on paper to add to my records. I always had my refund directly deposited into my bank account within 10 to 14 days and the miniscule filing fee was simply deducted from the total sum of my tax refund. Over the past three years (and that's how long I have been using TurboTax) I always got every penny I paid in federal and state taxes back.


FYI: I never owed taxes, but TurboTax lets you pay your taxes with a MasterCard®, American Express® or Discover® Card and I guess for some users this may be an option.


Uninstalling:

Intuit's TurboTax comes with its own removal feature.

I usually back up my TurboTax files on a Zip disk using my Iomega® 100MB External USB Zip Media Drive (Please read my review on this product!) before uninstalling. That way I can merge this year's info into next year's and edit changed information manually. This saves me even more time!


Bottom Line:

I give this software program the rating of 5 stars (excellent) because it's right on the money, and right for me!



Recommended: Yes