Recently, TurboTax agreed to collaborate with Earnest to assist students with student loan savings. The idea sounds promising. Besides, the merger promises to promote Earnest’s refinancing tools and to suggest a rate tailored to their tax return. However, the merger proves more problematic than seamless. Does it really benefit tax filers?
The deal comes into play when tax filers claim the student loan interest tax deduction. The ‘related offer’ shows up on the screen, asking for your consent to view the offer. If accepted, the offer appears after the tax return is complete. It begins by asking for consent on sharing tax information with Earnest. Next, Earnest shows its offer: a detailed refinancing estimate. Agree to this offer and you then go to Earnest’s website to fill out an application and credit check. In closing, Earnest’s process allows borrowers a chance to lower interest rates and/or shorten the repayment deadline. In some cases, both occur.
Are you at ease with this idea? Don’t embrace the change yet. One downside of Earnest tempting tax filers to obtain a student loan is losing government loan benefits. You can’t have both government and private student loans. Second, the qualifications are difficult. Along with a credit check, a stable job, a lender-approved salary, and a co-signer are mandatory. Last, Earnest may not provide the best refinancing offer. Accepting Earnest’s offer means not accepting lower offers from lenders not associated with the government or TurboTax.
In conclusion, TurboTax and Earnest shouldn’t become the sole solution to refinancing. View the offer first, view more lenders with refinancing rates for better offers, and analyze your student loan situation before accepting any offer.
One of the activities which we must perform after we begin earning is pay taxes. This is where we give some of our earnings to the government. Every year, we must file our taxes so as to be upstanding citizens and also to gain a good record with the tax recording authorities. The process of filing your taxes requires quite a number of calculations. It can be a bit challenging to perform them manually. Thankfully, there is software which is designed to assist you in this. This software has some features which are necessary in assisting you to identify how much taxes you need to pay and what return to expect. A good example of such a software is Turbotax Premier 2017. Read on to learn more about it.
What is TurboTax Premier 2017
This is a software product which helps you to file your taxes on your own. It performs very accurate calculations and is very easy to navigate. Moreover, Turbotax prepares you for the filing process in an exceptional manner. The software gives you an option between taking an interview or going through the semi-guided method of preparation. Whichever option you pick, the software gives you special tax filing procedures which you can utilize to save money in the process. In addition to that, Turbotax Premier 2017 has a very advanced error catching mechanism. If you make a mistake when filing your taxes, the software will flag it for you. In addition to that, it will not allow you to proceed until you have rectified your mistake.
Get the forms which you require
There are some special forms which you need to have when filing your taxes. Examples of these are the 1099 and the W-2 forms. Turbotax Premier has a feature which helps you to import these forms as you file your taxes. If you use a separate software such as Intuit to process these forms, this is a huge advantage. You do not have to generate these forms from scratch. Individuals such as business people and real estate investors find this very effective. Turbotax Premier utilizes the funnel approach to help you file your taxes. It begins by asking a high-level question first. If this question is relevant to you, it asks you more some more. This is a highly effective way of handling tax information for beginners and professional users of this software. You can find yourself in some complicated situations when filing your taxes. Examples of such situations are depreciation and amortization. The software gives you various schedules to help you handle these situations successfully.
The progress report feature
It is always good to see if you are making financial progress. This software brings up a comparison between your current year and the previous one. This feature assists you to compare how your personal income performed versus your expenses. By looking at the data, you can tell if you are making progress or not.
Get some advice with filing your taxes
The Tax Code can be very complicated and actually seem obscure to many people. Thankfully, the unique style of interviews which is utilized by Turbotax makes it very easy to understand. Whenever you are answering a question in Turbotax, there is a button which you can press so as to “Learn More”. If you are still unsure if the question at hand applies to you, you can read the article which is generated by the button and determine if it is relevant or not.
If you find yourself even more confused about the law of tax, you can simply connect with a Tax Expert, this is a feature which gives you tax advice through a chat box. The Tax expert will share their screen with you and indicate to you how to utilize their advice. There is also another feature in Turbotax which is known as AnswerXchange. This one assists you to get more help in case you are stuck during the filing process. Turbotax also presents you with links to products such as Max Assist & Defend. It is an upgrade which makes your emails and chats to have the highest priority possible. This upgrade also guarantees that you will receive expert assistance with your audits.
Turbotax Premier 2017 is currently available to you for $59.49. When you pay this amount, you can enjoy annual, free subscription to Turbotax newsletters. Turbotax is well known to be reliable tax filing assistance software from Intuit technologies. It is a great investment for you to make. If you login with the Turbotax Advantage, you get to enjoy a discount on the price of the software.