Its popularity partly stems from its name recognition (having been around for nearly 40 years) but also from the company’s focus on design and offering users plenty of features. With TurboTax Live Full Service Self-Employed, a TurboTax expert who knows everything about filing a self-employed income tax return accurately will do your taxes for you. Plus, if you are registered for GST/HST, we’ll handle that return for you as well at no extra cost. Get matched with a dedicated business tax expert who’ll do everything for you–start to finish. Our tax experts are available for live reviews from 5 AM to 5 PM, PT, Monday–Friday. Have a dedicated tax expert do your taxes from start to finish, usually in a day.
TurboTax Live Basic includes the added help of unlimited expert assistance and a final review by a tax expert. Terms, conditions, pricing, features, service and support are subject to change without notice. One of the biggest complaints about TurboTax is the ease with which it attempts to upgrade users to the next-tier product. A 2019 investigation by ProPublica found that Intuit, TurboTax’s parent company, was deliberately hiding its free filing services from Google and other search engines. As of this writing, TurboTax’s free file options are clearly advertised.
TurboTax Live Assisted Basic review
You don’t even need to have your W–2s or 1099s—we can import that information directly from more than a million participating employers and financial institutions. For more complex tax situations you may need additional documents, like mortgage statements or other detailed financial information. TurboTax Premium offers support through tutorials, tool tips, and a community forum. However, if you prefer to talk to a live person, you’ll have to pay extra by subscribing to TurboTax Premium Live, which provides filers real-time access to tax experts. Our business tax experts can review your return before you file, and back it with an Expert Approved Guarantee so you can be 100% confident it’s done right. If you have a simple tax return, meaning that you just have W-2 income to report and are taking standard deductions, TurboTax’s free version could be the right fit for you.
- Here’s the thing, getting access to a tax expert or accountant doesn’t have to be expensive if you use TurboTax Assist & Review Self-Employed.
- TurboTax Live Assisted Premium is a great solution if you feel comfortable doing your own taxes with unlimited expert help as you go.
- The most common for self-employed is a Simplified Employee Pension Plan (SEP).
All they’re really doing is asking you a series of questions that will help fill out your taxes. All of the questions are pretty straight forward (it’s like talking to a friend). But if you’re ever confused about something, you can usually click a link for additional details. For example, if you’re not sure what to deduct, you can get TurboTax to guide you. TurboTax is the only Canadian tax preparation software designed specifically for self-employed individuals so there’s no need for you to worry.
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Once I finished my tax return, I scheduled a call with an expert to take one last look. They made a few suggestions that helped me get a slightly what is turbotax live self employed bigger tax return which more than covered the cost of the service. If you’ve never done your taxes, let me tell you that using TurboTax is simple.
You can put in up to the lesser of 25 percent of your net earnings from self-employment or $61,000 for 2022 up until the extended October 16 tax deadline if you filed an extension and lower your 2022 taxes. Compare that to the $6,000 cap on IRA contributions ($7,000 if 50 and over) for 2022 that have to be made by the April 18 extended tax deadline. Working from the comfort of your own home can help you maximize your tax write-offs. If you regularly and exclusively use a home office specifically for your business, you can claim the home office deduction related to that space. When you use one-way video with your tax expert, you’ll be able to see them, but they can’t see you. You can choose to follow the guided method of entering your financial and business details, or jump ahead to specific sections, and then navigate back to those you missed.