The 2025 tax season has officially arrived, and with it comes the inevitable task of preparing our annual returns. TurboTax remains one of the top choices for many taxpayers due to its user-friendly software, tailored features, and a variety of discounts available to make the process more affordable. In this article, we’ll explore the best TurboTax discounts available this month and how AARP members, along with other seniors, can make the most of these offers.
Extra 10% Off TurboTax Online Federal Products
One of the most compelling deals available right now is TurboTax’s extra 10% off discount on federal online products. This promotion stacks on top of TurboTax’s early-season sale, allowing users to save up to 50% overall on the cost of their tax preparation software. This offer applies to all service tiers and is valid through January 31, 2025, so there’s plenty of time to take advantage of this deal.
TurboTax’s software comes in three main tiers, ensuring there’s an option for everyone based on their specific tax preparation needs:
- Do-It-Yourself (DIY) Versions: These are perfect for individuals who feel confident managing their taxes independently. TurboTax’s intuitive interface guides you through the process step by step.
- Live Assisted Versions: If you’re looking for occasional expert help, these versions provide access to tax professionals who can answer questions and offer guidance as you complete your return.
- Full Service Versions: For those who want to hand over the responsibility entirely, this option allows tax professionals to take care of everything—from start to finish.
With the extra 10% off discount applying across all tiers, this is a great opportunity to save money while choosing the level of support you need.
50% Off QuickBooks Solopreneur (with Live Assisted Tax)
For self-employed individuals, freelancers, and small business owners, managing taxes can be particularly challenging. TurboTax offers a solution tailored to this demographic with its partnership with QuickBooks Solopreneur, which comes with Live Assisted Tax services. New QuickBooks customers can get 50% off the first three months of the Solopreneur plan, reducing the cost from $20 per month to just $10 per month.
Some key features of the QuickBooks Live Assisted Tax service include:
- Unlimited Access to Tax Experts: Whether it’s maximizing deductions or ensuring accuracy, you can consult tax professionals as needed.
- Seamless Integration with QuickBooks: Your financial data syncs automatically, making tax preparation more efficient.
- Personalized Advice: Experts help identify industry-specific credits and deductions.
- Audit Support: You’ll receive one-on-one guidance if you’re audited.
- Accuracy Guarantee: A 100% Accurate, Expert-Approved Guarantee ensures peace of mind.
This deal is an excellent opportunity for entrepreneurs looking to simplify their tax filing process while enjoying significant savings. However, note that it’s only available to new QuickBooks customers.
TurboTax Free Edition
If your tax situation is straightforward, you might not need to spend anything at all. TurboTax’s Free Edition allows eligible individuals to file both federal and state taxes at no cost. A “simple tax return” qualifies for the Free Edition and typically includes:
- Filing a basic Form 1040.
- Limited credits like the Earned Income Tax Credit (EITC), Child Tax Credit, and Student Loan Interest Deduction.
- No additional schedules or complex financial situations.
However, it’s important to note that only about 37% of taxpayers qualify for the Free Edition. If you have more complex needs, such as owning a business or reporting investment income, you’ll need to upgrade to a paid plan.
AARP TurboTax Discount: What to Know
Many AARP members may be wondering if there’s a TurboTax discount available specifically for them. While AARP is well-known for offering a variety of benefits, such as discounts on travel, restaurants, and entertainment, there is currently no exclusive TurboTax discount available for AARP members. However, seniors and AARP members can still take advantage of alternative discounts and free resources to minimize their tax preparation costs.
AARP Foundation Tax-Aide: A Free Resource for Seniors
AARP members and other seniors can benefit from the AARP Foundation Tax-Aide program, a free tax preparation service aimed at taxpayers over 50 with low to moderate income. Here are some key details about this program:
- No Membership Required: You don’t need to be an AARP member to access this service.
- IRS-Certified Volunteers: The program relies on IRS-certified volunteers who are trained annually to stay up to date on tax code changes.
- Convenient Locations: Tax assistance is offered at nearly 3,500 locations across the U.S., including libraries, community centers, and malls.
- Electronic Filing: Returns can be electronically filed for free, ensuring a quicker refund.
In 2024, nearly 28,000 Tax-Aide volunteers assisted 1.7 million people, securing over $1.3 billion in total refunds. To use the service, you’ll need to gather all necessary documentation, such as W-2s, 1099 forms, Social Security cards, and government-issued photo IDs. You can find a location near you using the AARP Foundation Tax-Aide Service Locator Tool on their website.
Alternative Discounts for Seniors and AARP Members
While AARP does not currently offer a TurboTax discount, there are other ways seniors can save money on tax preparation services:
- Costco Membership Discounts: Costco often provides discounts on TurboTax software, making it a great option for members.
- AAA Membership Savings: AAA members sometimes receive exclusive discounts on TurboTax, so it’s worth checking with your local AAA branch.
- Student and Military Discounts: TurboTax offers free or discounted services for students, active military members, and veterans.
- Other Financial Institutions: Some financial institutions, like AMEX or Robinhood, provide their users with TurboTax discounts. It’s worth checking your account benefits.
General Tax Planning Tips for AARP Members
Tax preparation isn’t just about filing on time; planning ahead can help you save money and avoid unnecessary stress. Here are a few tips to ensure a smooth tax season:
- Check Your Payroll Withholdings: If you’re still working, use the IRS’s online Tax Withholding Estimator tool to ensure you’re not withholding too much or too little. Adjust your W-4 form with your employer as needed.
- Stay Updated on Tax Law Changes: Each year brings minor updates to tax brackets, deductions, and credit rules. Consulting with a tax professional can help ensure you’re maximizing your tax-saving opportunities.
- Organize Your Documents Early: Start collecting necessary documents like W-2s, 1099s, and receipts for deductible expenses in January. Most employers and institutions send these forms by late January or early February.
- File on Time or Request an Extension: Avoid penalties by filing your return or requesting an extension before the IRS deadline. Remember, even with an extension, any taxes owed are still due by the original deadline.
Staying Informed and Making the Most of Available Resources
While TurboTax discounts for AARP members are currently unavailable, seniors still have a variety of options to make tax preparation more affordable. From free assistance through the AARP Foundation Tax-Aide program to significant savings on TurboTax products via early-season discounts, there are opportunities to save both time and money. Combine these resources with proactive tax planning, and you’ll be well-equipped to tackle this tax season confidently.