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TurboTax 2016

2016 TurboTax Online Tax Preparation SoftwareStaying on top of your tax liability in the new year requires the knowledge or product to insure your not paying more taxes than you should be paying. TurboTax 2016 is the perfect solution to insuring you every tax break possible.

With the national debt soaring to record levels, and our government continuing on its greedy path of special interest favors and tax breaks for the rich, there's no doubt the working class will need to work harder to insure a fair break. If that really exists anymore...

Calculating your tax estimate with TurboTax 2016

Turbotax TaxCaster Tax Calculator ToolWith all the features today's tax software programs have there is one that seems to get used a lot all through the year. The TurboTax TaxCaster is a great tool that lets you estimate your taxes owed any time of year. There are many great reasons to use this tool often throughout the whole year including:

  • To check your income status in an effort to keep from paying too much in to Uncle Sam and make sure that an overpayment isn't earning him interest instead of being in your bank account earning you the interest instead.

  • To calculate your taxable income and insure your paying enough in so that you wont be charged a penalty, or interest charge by the IRS for underpaying your withholding or quarterly tax payments on time.

  • To get a read on where you stand with the IRS and your taxes in order to plan better for setting aside funds needed to pay your taxes, or, planning on what to invest in with your refund.

Overall this TurboTax TaxCaster tax Calculation tool is a great feature that can be very helpful all year long in helping you prepare properly so that there are no shocks to your sanity come tax season.

Use TurboTax 2016 for keeping up to date with current tax law changes.

Tax changes for 2017 and 2018 were signed into law by the President. These tax law changes for the up-coming tax season include:

  • Income and Deductions: Income tax rates are expected to remain the same for the most part with minor adjustments.

    • A New Portability Law will allow the executor of a deceased spouses estate to transfer any unused exemption to the surviving spouse. This new law is effective for the new tax season.

    • Asset Allocation: Since income tax rates will see little change, it's wise to look at investing in asset classes that provide tax preferential treatment like qualified dividend income and long-term equities.

  • Estate Tax Exemption Increase: An estate tax exemption increase will help exclude a significant amount of assets from federal estate taxes. Beware, there may be a significant disparity between states estate tax exemptions.

  • Estate, Gift and GST Taxes and Tax Exemption: A reduction in rates for estate, gift and GST taxes allows more assets to pass to non-charitable beneficiaries. The GST tax exemption increases to the estate tax exemption amount.

TurboTax Software Downloads and CD's

TurboTax Desktop Tax Software

With the desktop software editions of TurboTax you get a product that is installed on your computer so that there is no need to worry about having an internet connection when your ready to prepare your tax return.

Installing the software version on your computer is a great way to go for those of you that tend to prepare a lot of returns for family members and friends. It makes it much simpler to work anywhere, anytime. You can prepare you own return at home, then head over to mom an dads house to help them with their return. No need to sweat the small stuff when all you need is already loaded onto you computer and accessible anywhere you go.

With the TurboTax 2016 tax software editions you will be able to take advantage of any benefits that may apply to your personal tax filing requirements. It's easy and virtually automatic in 2016.

TurboTax Free Edition, will it work for you?

Now for those of you with simple 1040ez tax returns, there is no reason for you to pay anything to file your federal tax return. With the TurboTax 2016 Free Edition you can prepare and efile your return to the IRS for FREE. You don't have to pay a cent!

It's a great program that has no income limitation, so anyone can use it regardless of how much they make so long as you are filing a basic return that requires no special forms. Now there are some limitations as to what this edition will do and what it won't such as:

  • It won't import financial data from w2's 1099's or any financial software like Quicken. So you entries have to be done manually by hand, watch that you don't make mistakes...

  • The Free Edition is only available online, so you can't work on your return if you have no internet connection from where your trying to complete you return.

So here's the facts, if you want to prepare your taxes yourself to save some cash, there is no better choice than TurboTax. With the top rated tax software for many decades now, there's no doubt it's the best choice on the market today... Give it a shot, you won't be disappointed...

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