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Well, 2016 is here in full force. With the new year comes the impending deadline for all of us to file our tax returns. April 15 is coming up fast…less than 3 months to get it done.
For those of you who plan on preparing your own tax return, TurboTax is the most popular option. But which one of the five main versions of TurboTax should you use? I’ve put together a price and feature comparison chart to help you figure it out. This chart lists the major features of each version, along with a price comparison for several online retailers. I hope this helps you find the right version and get the best deal at the same time. To check out the chart, click here.
I’ve also just uploaded a video showing how to install TurboTax. Installation is pretty simple, but sometimes it’s nice to see it before you try it yourself. As soon as you finish installing, TurboTax will ask if you want to install updates before opening the software. It will then download any new tax law changes, forms, bug fixes, or other updates so you can be confident you’re using the latest and greatest.
Altogether, installation and downloading updates took me about 4 minutes, so it’s pretty quick. Once you open TurboTax, you can start preparing your federal tax return. If you have the Home & Business version, you can also prepare W-2s and 1099s for any employees or contractors you may have. This is handy for anyone who paid an employee or contractor more than $600 in 2015. Examples might include gardeners, house help, nannys, employees of a single-member LLC, or any contractors you may have hired.
How to Install TurboTax 2015 for Windows Video
I’ll be uploading more TurboTax videos in the next few days to provide an overview of the software and give viewers an idea of what to expect. If there’s something specific you’d like to see, leave a comment below and I’ll try to make it happen.
Nate Phillips has been using Quicken and TurboTax for over 20 years. He has spent part of that time as a Quicken beta tester, helping identify bugs and annoyances with Quicken updates before they are released. Nate holds a master’s degree in Computer Science and has numerous technology certifications.