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TurboTax 2008 online deals

Update 02/10: Go here for a version of this roundup updated for 2009 tax year

This is a roundup of the current promotions on the online version of TurboTax tax preparation software, the kind of software I have used for several years and will use this time as well.

Pick the type that fits your needs (Basic, Deluxe, Premier, or Home & Business), compare the prices below, and use the link to go to the promotion page. Bookmark it and make sure to use the same link every time you go back to continue your taxes.

It looks like I will go with Fidelity or USAA this year. I need Home and Business (both federal and state) and these companies offer the best discount. Please tell me which software you use. Also comment if you know any other on-going TurboTax promotion and I will update this blog post.

Open to everyone

1. Regular prices
Intuit currently offers free basic federal filing at their website.

Federal State Both
Basic $0.00 $25.95 $25.95
Deluxe $20.95 $34.95 $55.90
Premier $34.95 $34.95 $69.90
Home & Business $52.45 $34.95 $87.40

2. Promotion by Fidelity
Go to this page and click on “Visitor Entry”.

Federal State Both
Basic $11.20 $26.20 $37.40
Deluxe $22.45 $26.20 $48.65
Premier $37.45 $26.20 $63.65
Home & Business $56.20 $26.20 $82.40

3. Promotion by USAA
Use this link to get to the promotion page

Federal State Both
Basic $0.00 $19.45 $19.45
Deluxe $22.45 $26.20 $48.65
Premier $37.45 $26.20 $63.65
Home & Business $56.20 $26.20 $82.40

4. Promotion by T. Rowe Price
Use this link to get to the promotion page

Federal State Both
Basic $9.70 $34.95 $44.65
Deluxe $19.45 $34.95 $54.40
Premier $32.45 $34.95 $67.40
Home & Business $48.70 $34.95 $83.65

5. Promotion by Chase
Go to this page and click on “Save Now on TurboTax”.

Federal State Both
Basic $0.00 $25.95 $25.95
Deluxe $20.95 $34.95 $55.90
Premier $34.95 $34.95 $69.90
Home & Business $52.45 $34.95 $87.40

Open to company clients

1. Vanguard Flagship
Open to Vanguard Flagship Services™ and Asset Management Services clients. Go here for more info.

Federal State Both
Basic $0.00 $0.00 $0.00
Deluxe $0.00 $0.00 $0.00
Premier $9.95 $0.00 $9.95
Home & Business $48.70 $0.00 $48.70

2. Vanguard Other
Open to other Vanguard investors. Go here for more info.

Federal State Both
Basic $9.70 $34.95 $44.65
Deluxe $19.45 $34.95 $54.40
Premier $32.45 $34.95 $67.40
Home & Business $48.70 $34.95 $83.65

3. State Farm
This year State Farm is offering free Turbo Tax only to the first 25,000 bank customers to claim the offer. If you are a bank customer with them, login to your account and look for “FREE tax filing” on the left side.

How US tax system works

Together with How markets work this is one of the funniest things I have stumbled upon online lately. Enjoy!

Bar Stool Economics (via WiseBread)

Suppose that every day, ten men go out for beer and the bill for all ten comes to $100. If they paid their bill the way we pay our taxes, it would go something like this:

  • The first four men (the poorest) would pay nothing.
  • The fifth would pay $1.
  • The sixth would pay $3.
  • The seventh would pay $7.
  • The eighth would pay $12.
  • The ninth would pay $18.
  • The tenth man (the richest) would pay $59.

So, that’s what they decided to do. The ten men drank in the bar every day and seemed quite happy with the arrangement, until one day, the owner threw them a curve.
“Since you are all such good customers”, he said, “I’m going to reduce the cost of your daily beer by $20”. Drinks for the ten now cost just $80.
The group still wanted to pay their bill the way we pay our taxes so the first four men were unaffected. They would still drink for free. But what about the other six men - the paying customers? How could they divide the $20 windfall so that everyone would get his “fair share?”
They realized that $20 divided by six is $3.33. But if they subtracted that from everybody’s share, then the fifth man and the sixth man would each end up being paid to drink his beer. So, the bar owner suggested that it would be fair to reduce each man’s bill by roughly the same amount, and he proceeded to work out the amounts each should pay.

And so:

  • The fifth man, like the first four, now paid nothing (100% savings).
  • The sixth now paid $2 instead of $3 (33%savings).
  • The seventh now pay $5 instead of $7 (28%savings).
  • The eighth now paid $9 instead of $12 (25% savings).
  • The ninth now paid $14 instead of $18 (22% savings).
  • The tenth now paid $49 instead of $59 (16% savings).

Each of the six was better off than before. And the first four continued to drink for free. But once outside the restaurant, the men began to compare their savings.
“I only got a dollar out of the $20,” declared the sixth man. He pointed to the tenth man, “but he got $10!”
“Yeah, that’s right,” exclaimed the fifth man. “I only saved a dollar, too. It’s unfair that he got ten times more than I!”
“That’s true!!” shouted the seventh man. “Why should he get $10 back when I got only two? The wealthy get all the breaks!”
“Wait a minute,” yelled the first four men in unison. “We didn’t get anything at all. The system exploits the poor!”
The nine men surrounded the tenth and beat him up.
The next night the tenth man didn’t show up for drinks, so the nine sat down and had beers without him. But when it came time to pay the bill, they discovered something important. They didn’t have enough money between all of them for even half of the bill!

And that, boys and girls, journalists and college professors, is how our tax system works. The people who pay the highest taxes get the most benefit from a tax reduction. Tax them too much, attack them for being wealthy, and they just may not show up anymore. In fact, they might start drinking overseas where the atmosphere is somewhat friendlier.

David R. Kamerschen, Ph.D.
Professor of Economics, University of Georgia

TurboTax 2007 online deals

Update 02/10: Go here for a version of this roundup updated for 2009 tax year

Here is a roundup of current promotions on the online version of TurboTax tax preparation software, the kind of software I have used to prepare my taxes for several years and will use for 2007 tax year as well.

Pick the type that fits your needs (Basic, Deluxe, Premier, or Home & Business), compare the prices below, and use the link to go to the promotion page. Bookmark it and make sure to use the same link every time you go back to continue your taxes.

I prefer online TurboTax version over the downloadable one (or the one on CD) for several reasons. Here they are:

  • I don’t have to mess with installing software on my PC
  • Tax preparation is a lengthy process and I don’t want to be bound to a single computer
  • It includes free e-filing

Please tell me which software you use. Also comment if you know any other on-going TurboTax promotion and I will update this blog post.

Open to everyone

1. Regular prices
Intuit currently offers free basic federal filing at their website.

Federal State Both
Basic $0.00 $25.95 $25.95
Deluxe $29.95 $29.95 $59.90
Premier $49.95 $29.95 $79.90
Home & Business $74.95 $29.95 $104.90

2. Promotion by Fidelity
Go to this page and click on “Visitor Entry”.

Federal State Both
Basic $11.20 $22.45 $33.65
Deluxe $22.45 $22.45 $44.90
Premier $37.45 $22.45 $59.90
Home & Business $56.20 $22.45 $78.65

3. Promotion by USAA
Use this link to get to the promotion page

Federal State Both
Basic $0.00 $19.45 $19.45
Deluxe $22.45 $22.45 $44.90
Premier $37.45 $22.45 $59.90
Home & Business $56.20 $22.45 $78.65

4. Promotion by T. Rowe Price
Use this link to get to the promotion page

Federal State Both
Basic $10.45 $29.95 $40.40
Deluxe $20.95 $29.95 $50.90
Premier $34.95 $29.95 $64.90
Home & Business $52.45 $29.95 $82.40

5. Promotion by Chase
Go to this page and click on “Save 30% on TurboTax Online”.

Federal State Both
Basic $0.00 $29.95 $29.95
Deluxe $20.95 $29.95 $50.90
Premier $34.95 $29.95 $64.90
Home & Business $52.45 $29.95 $82.40

Open to company clients

1. Vanguard Flagship
Open to Vanguard Flagship Services™ and Asset Management Services clients. Go here for more info.

Federal State Both
Basic $0.00 $0.00 $0.00
Deluxe $0.00 $0.00 $0.00
Premier $9.95 $0.00 $9.95
Home & Business $48.70 $0.00 $48.70

2. Vanguard Other
Open to other Vanguard investors. Go here for more info.

Federal State Both
Basic $9.70 $29.95 $39.65
Deluxe $19.45 $29.95 $49.40
Premier $32.45 $29.95 $62.40
Home & Business $48.70 $29.95 $78.65

3. State Farm
You have to be registered on StateFarm.com and have “at least one product (Bank, Insurance and/or Mutual Funds) displaying on My Account page”.
If you do, login to your account and look for “FREE tax filing” on the left side. Preparation and filing is free.

TurboTax Deluxe Federal & State for $20.99

Update: the offer has expired as of January 21, 2008

TurboTax Deluxe

I doubt you will find a better deal on TurboTax software than this offer from Costco. Both Federal and State tax preparation software is included. Shipping if free. Note, a non-member fee of around $2 will be charged if you don’t have Costco membership.

  • List price: $49.95
  • Discounted price: $35.99
  • Less instant coupon: -$15
  • Final price: $20.99

Not sure what kind of TurboTax package you need? Check out this comparison table for Intuit’s online tax software. I am sure what they have on CD’s comes with about the same set of functionality.

Update: do you consider joining Costco? Get $10 when you become a member and reduce the price on TurboTax Deluxe to $10.99! More on this deal from Buxr.

Free TurboTax Business software download

Update 02/09: Go here for a roundup of TurboTax deals for 2008 tax year

Small business owners rejoice! You worked hard through the year so get rewarded for your hard work! ;-)

Diligent bargain hunters at SlickDeals forums have spotted Intuit targeting free TurboTax Business Software download to select visitors of the tax software home page and posted a a direct link (no longer working) to the offer.

People report seeing the free download offer intermittently. When not offered, the ongoing sale price for Business version of the TurboTax software is shown as $74.95 (includes Federal taxes for Corporations, Partnerships, & LLCs).

I have gone through the complete checkout procedure using the direct link above (and my existing TurboTax login id) and got this message at the end:

Thank you for requesting your FREE TurboTax Business Software for Tax Year 2007.

Here is your link to access the download

As a reminder, TurboTax Business is absolutely free ($99.95 value). It is the same complete edition that’s sold in stores or direct from Intuit. We’re giving you the option to try it for free for one simple reason: we think that once you’ve tried TurboTax Business, you’ll become a TurboTax customer for life.

Do your taxes at your own pace. TurboTax saves your information, so you can come back to work on your return whenever you want. Your free TurboTax Business software is not limited in any way. Use it to prepare and file your federal tax return — there’s no cost or obligation.

So go ahead — prepare and file your federal business taxes FREE with TurboTax Business.




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