As we move into the new year, tax season is just around the corner, and for many people, that means it’s time to start thinking about filing taxes. If you’ve already made the decision to use TurboTax for your tax preparation, you’re on the right track. TurboTax is one of the most popular and user-friendly tax preparation platforms out there, offering a range of products for everyone, from those with simple returns to those with more complex tax needs.
If you’re an ETrade customer, or you’re just looking for ways to save on your tax preparation costs, January 2025 is a great time to explore some of the top TurboTax discounts available. Whether you’re preparing your taxes on your own, seeking assistance, or opting for full service, TurboTax has plenty of offers that can make this tax season more affordable.
Let’s take a closer look at the top TurboTax discounts available in January 2025, along with some options that might be of particular interest to ETrade customers, and how you can take full advantage of these deals.
1. Extra 10% Off TurboTax Online Federal Products (for up to 50% Off)
TurboTax is offering one of their most attractive deals this January: an extra 10% off on all federal online products that are already discounted as part of their early-season sale. This offer allows you to save up to 50% on tax preparation, depending on which service you choose. Whether you’re filing a simple return or need more help, this promotion applies across all service levels, so there’s a lot of flexibility.
Understanding the TurboTax Service Tiers:
Here’s a breakdown of the various service tiers, so you can decide which is the best fit for your tax situation:
- Do-It-Yourself Versions: If you feel comfortable filing your taxes independently, TurboTax’s Do-It-Yourself versions are designed for those who want to handle the process themselves. These versions are user-friendly, guiding you through each step of the filing process with easy-to-understand instructions. They are perfect for individuals with basic tax needs who don’t mind navigating the system on their own.
- Live Assisted Versions: For those who want some extra support while filing, Live Assisted versions provide the opportunity to consult with a tax expert whenever you need help. You can get occasional guidance on tricky tax questions, and the experts can review your return before submission. This is ideal for people who want some professional help but still want to maintain control over their tax preparation.
- Full Service Versions: If you prefer to hand off the responsibility completely, TurboTax’s Full Service versions are a great option. With this service, you’ll be paired with a TurboTax expert who will handle all aspects of your tax filing, including reviewing your financial documents, preparing your return, and submitting it for you. This is ideal for people with more complex tax situations or for those who prefer to have someone else take care of everything.
The extra 10% off promotion is valid through January 31, 2025, giving you plenty of time to take advantage of this offer before the end of the month. With up to 50% off depending on the service tier, this is a great deal, especially if you want to get started on your taxes early.
2. TurboTax Free Edition
For those with simple tax situations, TurboTax’s Free Edition might be all you need. This version allows you to file both federal and state taxes at no cost, making it an excellent option for those looking to save money during tax season. However, it’s important to note that only around 37% of taxpayers qualify for this version.
What qualifies as a simple return?
Here’s a quick overview of the conditions that typically qualify for the Free Edition:
- Filing a basic Form 1040 (without additional forms or schedules)
- Limited credits such as the Earned Income Tax Credit, Child Tax Credit, and Student Loan Interest Deduction
- No additional complexities such as business income, significant investment income, or deductions that require specialized schedules.
If your tax situation is more complicated—say, you own a business, have investment income, or have a number of deductions that require additional forms—you’ll likely need to upgrade to a paid TurboTax plan. But for straightforward returns, TurboTax’s Free Edition is a great choice to file without paying a dime.
3. 50% Off QuickBooks Solopreneur (with Live Assisted Tax)
If you’re a freelancer, contractor, or small business owner, TurboTax’s partnership with QuickBooks offers an incredible deal that can help you save money on both bookkeeping and tax filing. The QuickBooks Solopreneur plan offers a 50% discount for new customers, reducing the cost from $20 per month to just $10 per month for the first three months. This plan includes access to QuickBooks Live Assisted Tax, a service tailored specifically for self-employed individuals filing Schedule C (Form 1040).
Key benefits of QuickBooks Solopreneur with Live Assisted Tax:
- Unlimited Access to Tax Experts: This benefit gives you direct access to tax professionals who can help you maximize your deductions and ensure that your tax return is accurate.
- Integration with QuickBooks: Since QuickBooks is a widely used accounting software, this service seamlessly integrates with your QuickBooks account, allowing tax experts to access your financial data and streamline your tax filing.
- Personalized Advice: The service helps you identify industry-specific tax credits and deductions, which can be a huge advantage for freelancers and small business owners.
- Audit Support: QuickBooks offers on-demand support in case you’re audited, ensuring that you have expert assistance if the IRS comes knocking.
- 100% Accuracy Guarantee: TurboTax promises a guarantee that your tax return will be accurate when you use their expert services.
This offer is a great way for freelancers and business owners to save on tax filing and bookkeeping, especially for those who want to ensure they’re not leaving money on the table when it comes to deductions. However, this offer is only available to new QuickBooks customers, so if you’ve been considering using QuickBooks, now is the perfect time to sign up.
4. ETrade Customers and TurboTax Discounts
If you use ETrade, you likely have investments that you need to report come tax time. As one of the leading online brokers, ETrade has been around for decades and is a trusted platform for individual investors to trade stocks, bonds, and mutual funds. Since ETrade offers a robust trading platform, it’s common for users to need to report capital gains and capital losses on their taxes. For many ETrade customers, that means using TurboTax—one of the top tools for DIY tax preparation.
However, many ETrade customers are curious: Does ETrade offer any discounts on TurboTax?
Unfortunately, ETrade does not currently offer a TurboTax discount to its customers. While other financial institutions like TD Ameritrade, Fidelity, and American Express may have partnerships that offer special discounts for their clients, ETrade is not currently participating in such a promotion.
While this may be disappointing to some ETrade customers, there are still ways to save on TurboTax through other means, such as utilizing the aforementioned discounts and promotions like the extra 10% off or QuickBooks Solopreneur offer.
Other Ways ETrade Customers Can Save on TurboTax
Even though ETrade does not offer a direct TurboTax discount, here are some other ways you can save:
- Check Other Financial Institutions: As mentioned earlier, other financial institutions like TD Ameritrade and Fidelity sometimes offer TurboTax discounts to their customers. If you also have accounts with these institutions, it’s worth checking for any available deals.
- Partner Discounts: Sometimes, TurboTax partners with other organizations to offer special discounts. For example, if you’re a student, a AAA member, or an AARP member, you may be able to access exclusive TurboTax deals. If you’re not already a member of one of these organizations, it might be worth signing up to take advantage of these savings.
- Explore Other Tax Filing Options: If TurboTax discounts are hard to come by, remember that there are other tax preparation options available, including H&R Block or TaxSlayer, which may have their own special deals and offers for investors and self-employed individuals.
- Look for Special Deals from TurboTax: Every year, TurboTax runs special sales or offers additional savings during the tax season. These might include promotions like $20 off or free state filing. Be sure to keep an eye on the TurboTax website or subscribe to their newsletter to stay informed about any flash deals or promotions.
Final Thoughts on TurboTax Discounts for January 2025
The beginning of 2025 presents a prime opportunity to save on your tax preparation with TurboTax. Whether you’re taking advantage of the extra 10% off federal online products or the 50% off QuickBooks Solopreneur plan, there are plenty of ways to get your taxes filed affordably.
Even if you’re an ETrade customer, while there isn’t a direct TurboTax discount offered through ETrade at the moment, you can still benefit from other available promotions and savings opportunities.