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TurboTax Online Premier Investments Massachusetts

Our hands-down favorite among online tax services is loaded with helpful features that justify its premium price.

Local Companies

Tonneson & Company
(781) 245-9999
401 Edgewater Place, Suite 300
Wakefield, MA

Wolf & Company, P.C.
617-439-9700
99 High Street
Boston, MA

Carlin, Charron & Rosen LLP
(617) 226-7000
1400 Computer Drive
Westborough, MA

KPMG LLP
(617) 988-1000
99 High Street, 23rd Floor
Boston, MA

Pannell Kerr Forster, P.C.
(617) 753-9985
265 Franklin Street, 17th Floor
Boston, MA

Pricewaterhouse Coopers LLP
(617) 530-5000
125 High Street Tower, 9th Floor
Boston, MA

Braver
(617) 969-3300
25 Christina Street
Newton, MA

William J. Crane
(781) 575-0022
4 Heritage Lane
Canton, MA

The Pentad Group
(617) 269-3546
396 Washington Street, Suite 320
Wellesley Hills, MA

Massachusetts Society of CPA's
(800) 392-6145
105 Chauncy Street, 10th Floor
Boston, MA

A mirror image of its desktop software counterpart, TurboTax Online Premier Investments soothes many headaches for both tax dunces and advanced users. We loved its comprehensive, detailed interview even though it meant answering several questions that did not apply to us.

TurboTax's interface and interview process is understandable and comprehensive. Tax terms are clearly defined, and "Guide Me" buttons helped us determine what to claim. Once we input information, it was linked to other relevant documents so we didn't have to enter it again. When we keyed in the registration fee of a car used partly for a freelance business, TurboTax automatically included the nonbusiness portion on our itemized deductions. It also gave us a heads-up on relevant tax breaks we possibly missed.

New this year are the Deduction Maximizer Center, which let us scan more than 350 deduction and credit opportunities, and BasisPro, which determines the historical cost bases of multiple stock transactions. Also new in the federal summary were results of what we entered compared to what we would get in deductions, and an explanation of the difference.

TurboTax was definitely our favorite online tax service, but at $76 for both one federal and one state return, it's pricey--and it still has room for improvement. We couldn't view specific tax forms, as we could on the desktop version of TurboTax (although the online version did line up our tax data in the same order as they appeared on our finished 1040). Also, it provided no indicator to help us gauge how far along we were in the process, so we weren't sure if the 18th question about income was at the end or just midway through the section.

As with the desktop version of TurboTax, we could transfer financial data only from Quicken 2005 or later, making our three-year-old Quicken obsolete for tax-prep purposes.

The service does have one more point in its favor: Even though Intuit says Online Premier Investments is not for small-business users, it includes a thorough Schedule C interview for sole proprietors. Unless you're an entrepreneur with a heavy-duty tax situation, you can save the $25 premium for the Home and Business version and stick with Premier.

Vanessa Richardson

Featured Local Company

Tonneson & Company

(781) 245-9999
401 Edgewater Place, Suite 300
Wakefield, MA
http://www.tonneson.com/

Tonneson & Company CPAs PC is committed to service excellence and with our team of professionals, we will take a proactive approach in understanding our client's personal goals and objectives.

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