TurboTax Online Premier 2008 (Turbo Tax Premier Tax software)

TurboTax Online Premier 2008

Do You Know Two in Five Americans Filed Taxes in 2007 Did Nothing to Minimize Their Tax Liability? Among those U.S. adults who have filed or plan to file taxes in 2006, (91% of all adults), two in five (39%) did not do anything to minimize their tax liability. Are you one of them?
 

2009 Single Filing Status Tax Brackets:

2009 Married Filing Jointly Status Tax Brackets

Source: 
Dateline to File: Apr.15, 2009. This software is for Income Earned in Year 2008.

TurboTax Online Premier

Finds investment-related deductions to get you the biggest refund

1.      Asks easy questions: Easy to use step by step procedure. Customize questions to your unique situation, import your info from last year, and put it all on the right tax forms for you. Does all calculations for you. Shows yours tax refund add up in real-time   

2.     Maximizes personal and investment deductions. We search for more than 350 deductions and help you get more from your investments for the biggest refund

3.     Efile for FREE. Use free efile with direct deposit to get your refund in as few as 8 days.

Why TurboTax Online Premier? Because It Has Everything You Need To Get Your Biggest Refund

TurboTax Premier was designed to help you make the most of your investments and rental property deductions, so you get the biggest tax refund possible.

Choose TurboTax Premier if any of the following apply to you:

·         You sold stocks, bonds, mutual funds, or options for an employee stock plan

·         You own rental property

·         You are the beneficiary of an estate or trust (received a K-1 form)

Benefit # 1: Helps You Get the Most from Your Investments

·         Exclusive! Imports Your Investment Info — Saves time by automatically importing your investment info directly from your financial institution.

·         Helps You Accurately Report Investment Sales — Walks you through reporting sales of stocks, bonds, and mutual funds. Automatically calculates capital gains/losses and tells you how to deduct losses and associated expenses to help you get a bigger refund. Plus it keeps track of capital gains/losses that carry over to future tax returns.

·         Determines Your Cost Basis — Finds your accurate purchase price for stock sales in three easy steps, so you don’t end up paying more in taxes than you have to.

·         Helps with Employee Stock Plans — Guides you through reporting sales and automatically determines your correct basis for selling shares purchased at different times or different prices. Makes it easier to deduct losses, so you can get a bigger refund.

·         401(k) Maximizer — Shows you how to increase your 401(k) contribution without decreasing your take-home pay, so you can save more for the future.

·         Exclusive! Helps You Find Every Rental Deduction — Finds over 20 deductions for landlords, from travel to advertising to repairs to insurance, to maximize your tax savings.

·         Exclusive! Shows Your Best Rental Depreciation Method — Simplifies reporting rental property depreciation and shows which depreciation method will get you the biggest
tax deduction.

·         Maximizes Refinancing Deductions — Guides you through deducting points, appraisal fees, recording costs, and more so you don’t miss a single chance to save.

·         Helps with New Rental Properties — Shows you step by step how to set up new rental properties.

This software also includes everything in TurboTax Deluxe:

Benefit # 2: Finds Deductions and Credits to Get You the Biggest Refund

·         Maximizes Your Tax Deductions — Asks simple questions about your income, family situation and changes in your tax situation. Then, based on your answers, searches for more than 350 deductions to get you the biggest tax refund—guaranteed.

·         Looks for Deduction Opportunities as You Go — TurboTax shows you which deductions you’ve taken. Then it goes through the deductions you haven’t taken to make sure you haven’t missed any. Have kids? You can deduct up to $3,500 per child! Pay for tuition? You may be able to deduct up to $4,000! Own a home? We can help you save hundreds or even thousands of dollars with deductions for property taxes, mortgage interest, points and more. If you can deduct it, TurboTax will find it for you.

·         Gets You the Maximum Deduction for Donations — Every year millions of taxpayers undervalue the items they donate charity, potentially missing out on hundreds of dollars in additional tax savings. ItsDeductible® (included) helps you accurately value items you donate to charity so you get every penny you deserve. Plus, it tracks other donations such as cash, mileage and stocks, to help you get every charitable deduction you’re entitled to.

·         Finds Every Credit You Deserve — Pay for tuition? You can add as much as $1,800 to $2,000 to your refund with the Hope Credit or Lifetime Learning Credit. Buy a hybrid? The Hybrid Car Credit can add as much as $3,000 to your refund. Each year lots of taxpayers get a smaller refund than they deserve because they fail to take advantage of all the tax credits they’re eligible for. That won’t happen with TurboTax. We’ll make sure you get every credit you’ve got coming for the biggest refund possible.

·         Improved! Handles Your Life Changes — Changed jobs? Got married? Bought a home? Had a baby? TurboTax guides you through common life changes. Explains how the changes will impact your taxes. And tells you what you can deduct and how, to help you get the biggest refund.

·         Helps with Medical Expenses — TurboTax walks you through all possible medical expenses (including those that many people overlook). Then it does all the math for you and tells you if you qualify to deduct your medical expenses for maximum tax savings.

·         Helps You Get a Bigger Refund Next Year — Gives you an overview of your tax return so you can rest assured that your taxes are accurate. Then it offers you tips on how to improve your tax situation so you can get an even bigger refund next year.

Benefit # 3: Helps You Reduce Audit Risk

·         Tracks Your Audit Risk — Audit Risk Meter™ checks your tax return for common audit triggers. Shows whether your risk is high or low. And provides tips to help you reduce your chance of an audit.

·         Includes Downloadable Audit Support Center — Gives you step-by-step guidance on everything you need to know and do if the IRS contacts you.

·         Alerts You to Audit Red Flags — Compares your deductions to national averages for your income bracket so you can quickly see if your deductions fall outside the norm and could possibly trigger an audit.

Benefit # 4: Does the Hard Work for You

·         Asks Easy Questions, Tailored to You — Guides you step-by-step through your tax return and puts your answers on the right tax forms for you. Skips interview questions that don’t apply to you, so you can finish your return faster.

·         Improved! Automatically Fills in W-2 and 1099 Info — Gets your W-2 and 1099 data directly from over 100,000 participating employers and financial institutions and automatically puts it in the right tax forms. A brief summary lets you review and edit downloaded information if necessary.

·         Transfers Last Year’s Tax Info — No retyping necessary. Fills in your tax return with your personal info from last year.

·         Imports Your Financial Data — Imports your financial data from Quicken^®*, so you can skip the cut and paste this year.

Benefit # 5: Provides Help and Tax-Saving Tips

·         Straightforward Guidance and Tax-Saving Tips — Find help on any tax topic from anywhere within TurboTax. Plus get plain-English explanations of specific tax areas with helpful examples and tips for keeping more money in your pocket.

Benefit # 6: Spots Errors and Shows How to Fix Them

·         Checks for Mistakes — Double-checks your return for errors, so you can be confident your taxes are done right.

·         Always Up-to-Date with the Latest Tax Laws — Ensures your return includes the latest tax forms and complies with every update in the tax law.

·         Preview Your Tax Summary and 1040 Tax Form Before You File — Preview a summary list to find any missing pieces of info, or view your filled-in 1040 form before you file.

Benefit # 7: Get Your Refund Faster with FREE Federal Efile

·         Improved! Shows Your Tax Refund in Real Time — Watch your refund add up as you complete your return. Our improved Dual Refund Monitor constantly displays and updates both your federal and state refunds (or taxes due) as you complete your federal return.

·         FREE Federal Efile Speeds Up Your Tax Refund — Get your refund in as few as 8 days with efile and direct deposit. If you’re a returning customer, we’ll automatically transfer your efile information from your previous year’s return to save you even more time.

TIPS TO MAXIMIZE YOUR TAX DEDUCTIONS:

You can benefit from:

- Standard Deductions has been raised to $5,700 for singles and $11,400 for joint filers, an increase of $250 and $500 (from 2008) respectively to reflect inflation adjustments. This has also resulted in tax-bracket thresholds increased for each filing status.

- Gift Tax Exemption raised to $13,000 (up $1,000 from 2008)

- Personal and dependency exemption raised to $3,650, up $150 from 2008.

- 401(k) Contribution Limit raised to $16,500 (up $1,000 from 2008)

- Income Limit for Full Roth IRA Contributions: $105,000 single/$166,000 joint (up $4,000/$7,000 from 2008)

Review Estimated Tax Payments :Remember to review their estimated tax payments to avoid the penalties for underpayment of estimated taxes (have until January 15), and to see if prepaying your state taxes before the end of the year (applicable to cash basis taxpayers) will have any benefit.

File early:Start off with an easy tip that isn’t really about the size of your refund. It’s all about speed.

The earlier you file your tax, the sooner the refund will be in your hands. It makes sense, right?

How many people do you know who file their tax return in January? Not many. If you do it early, there is a tiny processing queue, so your refund will be sent out quickly. But if you wait until April 15, 2009 at midnight, your tax return will be in the endless pile with most of America. File early for a speedy refund.

Track contributions:One easy thing you can do during the year in preparation for a tax refund is to track your charitable contributions. This is one thing that people neglect to properly track and document. Keep a list of every check you put in the collection plate at church, and those household items you donate to Goodwill periodically as well.

Proper tracking is essential because you can’t get the tax refund that you have coming to you.

Open or contribute to an IRA: Qualifying taxpayers have until April 15th 2009 to open or make contributions to an IRA or retirement account. Making a deductible contribution before the due date may help lower their tax bill.

Double check everything:Getting audited is not the way to get a big tax refund check. You don’t want to make mistakes on your tax return forms. And you certainly don’t want to claim improper credits or deductions.

The best thing to do is to prepare all your forms and then double check them. Make sure it’s all correct.

Maximize your 401k contributions: Increasing contributions to an employer-sponsored retirement plan not only gives taxpayers a boost for the future, it save taxes by lowering their taxable income. And that could help taxpayers take some other deductions based on their taxable income.

Deduct job search expenses: Taxpayers who are unemployed or just looking to change jobs can deduct their job search expenses. The rules, however, require that their job search be in the same line of work they are currently in. Job search expenses can include travel, lodging, phone calls, resume preparation, and career counseling. These can be deducted even if they don’t get a job offer. However, if this is a first job, no job search expenses are deductible.

Tax relief for foreclosures: Recent legislation provides tax relief to people with a home loan that was reduced, restructured or foreclosed. Taxpayers that qualify may not have to pay taxes on the amount of debt that was forgiven by their bank. 

New Homeowner credit: If you are buying a home for the first time, you could be eligible for the new homebuyer’s tax credit worth as much as $7,500, under “The Housing Assistance Tax Act of 2008”.

The earlier you file your tax, the earlier you'll get your refund. Later, the refund queue will grow longer and it will be quite a wait to receive the refund...

This is a download version. You can download it instantly once you have paid.