December 18, 2020

2020 Withholding Tables

2020 Withholding Tables as a CPA I've use countless types of tax preparation software over the years so I love digging into the details whenever a. New addition is released in this episode I'm reviewing the TurboTax software for use in preparing 2019 tax returns due in 2020 this. Episode is knotted me a walk through it is a true review where I go through turbo taxes features it's free plan is, paid plans the user experience pros and cons and more so many of you know that turbo tax is generally viewed as the cream of the crop of do-it-yourself tax software with, the price point, to prove it and in my opinion turbo tax truly does offer a bit more streamlined tax return preparation process then it's less expensive. Competitors but of course it's not without its drawbacks I like to start my tax software reviews by discussing the free version of the software.

Since I know that this piece of information is all some of you want to know about so let's start, with talking about the turbo tax free edition now the good thing about the turbo tax free Edition is that it's truly free unlike some tax, software that gives you a free federal return but then makes you pay to, file your state return the Turbo Tax Free Edition is free for both, your federal and state returns the only problem is that your tax return has to be extremely simple for you to qualify to use the Free Edition and by, extremely simple I mean someone whose only income is reported on a w-2 maybe they have a small amount of.

Interest in dividends and they take the standard deduction if your tax situation is more complicated. Than that you'll need to use one of the paid editions that I'll talk about later in. The episode now just comparing the turbo tax free addition to the H&R block free online edition you'll see that the turbo tax free Edition is quite limited. Compared to H&R block's free product for example if you take the student loan, interest deduction you'll have to use a paid TurboTax product but you still qualify for the free agent our blog product. The same.

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