Tax season has returned! And if you’re planning on filing withTurboTax, they are once again offering several discounts to help you file early. Additionally, Fidelity customers have access to exclusive TurboTax deals tailored to meet their specific needs. Let’s dive into the available discounts running through January 2025 and how Fidelity clients can take advantage of these offers to streamline their tax filing experience.
1. TurboTax’s Extra 10% Off on Federal Online Products
One of the standout offer this January is TurboTax’s extra 10% discount on their federal online products. This deal is available as part of TurboTax’s early-season promotion, allowing users to stack this additional discount on top of already-reduced prices. Depending on the service tier you choose, you can save up to 50%.
This promotion is valid through January 31, 2025, and applies across all TurboTax service levels. Here’s a breakdown of the options available:
- Do-It-Yourself Versions: Best suited for those confident in navigating their tax situation independently. TurboTax’s user-friendly software guides you step-by-step, making the filing process as smooth as possible.
- Live Assisted Versions: If you want access to on-demand tax experts who can answer questions, this tier is a great choice. It combines the ease of DIY filing with professional support.
- Full Service Versions: For individuals who prefer a hands-off approach, TurboTax’s professionals will prepare and file your taxes on your behalf, ensuring accuracy and peace of mind.
This tiered system ensures there’s an option for everyone, whether your taxes are simple or more complex.
2. 50% Off QuickBooks Solopreneur Plan with Live Assisted Tax
Freelancers, gig workers, and small business owners often face unique tax challenges. To address these, TurboTax has partnered with QuickBooks to offer a tailored solution: the QuickBooks Solopreneur plan, which includes Live Assisted Tax services.
Key Details of the Offer:
- New QuickBooks customers receive 50% off for the first three months, reducing the price from $20 per month to just $10.
- This plan is ideal for self-employed individuals filing a Schedule C (Form 1040), providing them with expert guidance to maximize deductions and streamline tax filing.
Features of QuickBooks Live Assisted Tax:
- Unlimited access to tax professionals who can help identify industry-specific credits and deductions.
- Seamless integration between QuickBooks and TurboTax, ensuring accurate and efficient preparation.
- Personalized advice tailored to the needs of self-employed individuals.
- A 100% Accuracy Guarantee, offering peace of mind as you file.
- On-demand audit support, providing expert guidance if you’re audited.
If you’re a new QuickBooks user, this offer is a powerful way to simplify your tax preparation while saving on both bookkeeping and filing services. However, it’s worth noting that this discount is limited to new customers, so existing QuickBooks users won’t be eligible.
3. TurboTax Free Edition for Simple Returns
For taxpayers with straightforward filing needs, TurboTax’s Free Edition remains an excellent choice. This option allows you to file federal and state taxes at no cost.
Who Qualifies for the Free Edition?
- Those filing a basic Form 1040.
- Taxpayers claiming simple credits like the Earned Income Tax Credit, Child Tax Credit, or Student Loan Interest Deduction.
- Individuals without additional schedules or complex tax situations (e.g., no business income or large investment portfolios).
However, it’s important to note that only around 37% of taxpayers qualify for the Free Edition. If your tax situation involves owning property, substantial investment income, or other complexities, you’ll need to upgrade to one of TurboTax’s paid tiers.
4. Fidelity Customers: Exclusive TurboTax Discounts and Offers
If you’re a Fidelity customer, you’re in luck—Fidelity partners with TurboTax to provide exclusive discounts on tax preparation services. These offers include savings on TurboTax online products such as the Premium and Live Assisted editions.
Here’s how to access the Fidelity TurboTax discount:
- Log in to your Fidelity account at Fidelity.com.
- Under the “Accounts & Trade” menu, click on “Tax Forms & Information.”
- Scroll down to the section labeled “Tax Preparation Offers.”
- Look for the TurboTax logo under the phrase “Save up to $20 courtesy of Fidelity.”
- Click on the link, which will redirect you to a dedicated TurboTax offer page.
- Select the TurboTax product that fits your needs, and the discount will be automatically applied at checkout—no service code required.
Fidelity’s partnership with TurboTax ensures a seamless experience for its clients, particularly those managing investment or rental property income. Some Fidelity customers may also qualify for free TurboTax services, such as TurboTax Premium. If you’re eligible for this offer, you’ll likely receive an email notification in January or see details within your Fidelity account.
5. Military and USAA Members: Free TurboTax Federal and State Filing
Military members and USAA customers may qualify for free federal and state filing with TurboTax. These benefits recognize the unique tax situations faced by service members, such as combat zone exclusions and allowances. If you’re affiliated with the military or USAA, be sure to check if you qualify for this offer.
6. What If the Fidelity Discount Isn’t Available?
While Fidelity’s TurboTax offer is a great deal, it’s not exclusive. Many banks, financial institutions, and tax-related websites provide the same affiliate discount, allowing you to save up to $20 on TurboTax products even if you’re not a Fidelity client.
Pro Tip: If the Fidelity TurboTax discount isn’t working, try logging out of your TurboTax account, clearing your browser cache, and accessing the offer page again through Fidelity’s link. Sometimes, site security can block coupons if you’re already signed in to TurboTax.
Comparing Fidelity’s Offer to Other Deals
Although Fidelity’s TurboTax discount is convenient, it’s worth exploring other promotions to ensure you’re getting the best value. For example, Bank of America, TD Bank, and Robinhood also offer similar discounts on TurboTax products. Additionally, financial blogs and coupon websites often highlight seasonal offers that can match or exceed Fidelity’s deal.
7. Why Start Early? The Benefits of Early Tax Preparation
Taking advantage of these TurboTax discounts early in the season can help you avoid the stress of last-minute filing. Here’s why it pays to start now:
- Better Access to Support: Tax experts and customer service teams are less overwhelmed early in the season, making it easier to get assistance when needed.
- More Time to Maximize Deductions: Starting early gives you time to identify and document all eligible tax credits and deductions.
- Avoiding Late-Season Price Increases: TurboTax and similar services often raise their prices closer to the filing deadline, so locking in January discounts can save you money.
Final Thoughts: Maximizing TurboTax Discounts
TurboTax’s January 2025 promotions offer something for everyone, from simple returns to complex tax situations involving businesses or investments. Fidelity customers, in particular, can benefit from exclusive discounts and, in some cases, even free access to TurboTax Premium. However, even non-Fidelity customers can take advantage of similar deals by exploring offers from other financial institutions.
No matter your tax situation, starting early and leveraging these discounts can help you file efficiently while saving money. Whether you’re a freelancer using QuickBooks Solopreneur, an individual filing a basic return, or a Fidelity client looking to optimize your investments, TurboTax’s range of products ensures there’s a solution to fit your needs.
Happy filing!