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TurboTax (formerly QuickTax) Short Review and Giveaway

With the income tax deadline coming up, it’s the time of the year where tax software is flying off the shelves.  When it comes to online filing, there are two larger contenders in Canada – TurboTax (link will save you 10% off) and UFile.  On the free side, there is the underdog StudioTax which is growing in popularity and the newest addition SimpleTax.

Earlier this week, TurboTax offered me a few copies of the software to giveaway, so here is your chance to file your taxes for free this year.

What is TurboTax?

TurboTax, which has taken over the popular QuickTax, is an income tax preparation and filing tool that can be used online or locally on a PC or MAC.  I’ve used numerous online tax filing tools before but TurboTax/QuickTax is perhaps my top pick in terms of user interface and ease of use.

For filing online, they offer 5 options.

  1. TurboTax Free – For those with only income to claim.
  2. Student Edition (also free) – First time filers with simple returns and earned less than $20,000.
  3. TurboTax Standard ($17.99 per return) – Designed for couples and families with RRSP, tuition, medical expenses and other common deductions.
  4. TurboTax Premier ($32.99 per return) – In addition to the standard, this gives the incremental options of investment and rental income/deductions.
  5. TurboTax Home and Business ($44.99 per return) – In addition Standard and Premier features, this option allows the filer to claim/report a sole proprietorship.

For those of you with multiple returns per household (more than two), it may be worth it to consider the CD version as they allow for 8-12 returns.

For this giveaway, TurboTax is offering 3 coupon codes for filing with ANY of their online editions.

How to Enter the Giveaway:

  1. Sign up for the Million Dollar Journey Money Tips Newsletter (+1 entry)
  2. Tell me how you typically file your taxes (electronically, accountant, paper etc) via the comments (+1 entry)

The Rules

Lets go over some of the rules.  All contestant entries will be shoved into an electronic hat and drawn at random for the three prizes available.

  1. Only confirmed (new and existing) newsletter subscribers on the date of draw are eligible.
  2. Only 1 comment entry / person (please enter a valid email address).
  3. To be fair to all contestants, each winner can only win once.
  4. Entries will end Wednesday 5pm EST April 10, 2013 and the winners announced shortly after!
If you would like to read more articles like this, you can sign up for my free weekly money tips newsletter below (we will never spam you).

FT About the author: FT is the founder and editor of Million Dollar Journey (est. 2006). Through various financial strategies outlined on this site, he grew his net worth from $200,000 in 2006 to $1,000,000 by 2014. You can read more about him here.

{ 26 comments… add one }
  • Avatar rex September 25, 2011, 2:34 pm

    I enjoy reading through all the articles in MDJ.

    could you tell me if you know of any supplier who sells US tax programs for the federal 1040NR and state filings for Az. [ as well as the 140nr ]

  • Avatar Sarah Pearson April 5, 2013, 10:50 am

    I feel like a dinosaur as I’ve always filed a paper return. But if I win, I”ll get on board and file electronically!

  • Avatar lisa moore April 5, 2013, 11:09 am

    i file electronically every year, but since im now investing (as an avid reader of your newsletter) i would like to upgrade to a higher tax return service !!! pick me!!!

  • Avatar JW April 5, 2013, 11:59 am

    I file electronically every year. It’s fast and easy.

  • Avatar Norman April 5, 2013, 12:27 pm

    I have been doing electronic filing every year and will be doing the same this year too.

    Norman, Toronto

  • Avatar iamphysio April 5, 2013, 1:24 pm

    I’ve used Quick tax/Turbo tax for the past 10+ years now and it’s always been fantastic. I love that it uses info from your previous returns to speed up filing this years return. I once (8 years ago) took my return to a company to do (won’t name names) and was quite frustrated with the amount of time required to do this! By the time I organized all my receipts etc to take in + the time to drive to and from + time to explain everything etc to the tax preparer I could have easily filed myself.

  • Avatar Martin April 5, 2013, 1:49 pm

    Do all the families taxes electronically at home. Turbo tax has worked well for me in the past, but the price has been creeping up in recent years. I’m looking at the alternatives unless I can get myself a free copy ;-)

    Martin – Vancouver

  • Avatar Brett April 5, 2013, 1:50 pm

    I have formerly used an account but I’m looking to try the online method!

  • Avatar Bob Scot April 5, 2013, 1:55 pm

    Normally file electronically

  • Avatar Susan April 5, 2013, 2:52 pm

    Currently filing through an accountant. So I hope I can win this giveaway so I can try it and see for myself why others are saying it’s a fantantic software. Thanks!

  • Avatar Monika April 5, 2013, 3:02 pm

    I always paid someone to do my taxes but I was never satisfied with the knowledge of the doer so this year I decided to do the job myself. I played with Studio Tax and just this morning I prepared our Turbo tax return (no kidding) and get to the point when I must pay now. It will be electronically this year.

  • Avatar Janis April 5, 2013, 3:07 pm

    Been filing electronically for the past 7 years or so.

  • Avatar Revanche April 5, 2013, 5:06 pm

    I started filing electronically a few years ago and am still a little nervy about it thinking that I’ve forgotten something but it’s really been helpful learning the ins and outs of efiling.

  • Avatar On Demand April 5, 2013, 5:47 pm

    No Access code for this year netfile return. Hope it wont be a problem to file electronically this year. I don’t need a copy this year thanks.

  • Avatar Erick April 5, 2013, 6:07 pm

    I’ve been filing electronically for many moons now…

  • Avatar Simple Rich Living April 5, 2013, 6:26 pm

    Great timing for this because I totally TurboTax to file. Back in the days, I filed by hand and electronic filing. I have used UFile and QuickTax (TurboTax) in the last several years except 2012 (went with an tax preparer friend). This year I decided to go with TurboTax, I find it easier to use and flows logically than UFile. I definitely could use this.
    I hope I win but even if I don’t, you have just saved me 10% so great timing for the post, thanks again!

  • Avatar john in Kitchener April 5, 2013, 10:27 pm

    Have always used an accountant but am tired of the fees so will shadow this year with Turbo Tax or H&R on-line and if I get the same result, I can save several hundred dollars. Pick me please.

  • Avatar Stu April 6, 2013, 12:37 am

    I will file electronically for the first time this year.

  • Avatar Rod April 6, 2013, 1:51 am

    Have been using QuickTax and TurboTax for many years. I love it. TurboTax asks me all relevant questions so that I won’t miss any eligible credits. It also remembers my scenarios. When I file a new tax return, I don’t have to re-enter everything.

    Have tried using StudioTax. But it just doesn’t provide the guidance from TurboTax.

  • Avatar John Lee April 6, 2013, 3:46 pm

    I’ve been filing online for past several years. I used Studio Tax last year and it pretty simple and straightforward.

  • Avatar Duncan April 6, 2013, 4:37 pm

    I have used Turbo Tax (or Quick Tax) for the last 8 years or so, and then filed electronically. Until I moved away my family and I would have “Tax and Pizza Night” and we’d all do taxes on Turbo Tax. Thanks for the article!

  • Avatar Tony April 6, 2013, 5:48 pm

    I have a question that may not quite relate to this topic:
    what is the tax implication on the received payments if I invest in a US closed end fund that makes monthly distributions consisting mostly of return of capital?
    Are the payments I received treated as ROC or still foreign income which is 100% taxable?

  • Avatar Neil B April 7, 2013, 11:51 am

    I typically file my taxes electronically through turbo tax

  • Avatar Vincent April 9, 2013, 7:59 pm

    I have filed my taxes the traditional way of paper but intend to switch upto electronic filing

  • Avatar Aaron T April 10, 2013, 6:46 pm

    Over the last 3 years I have done my tax return with pc software on my own for my wife and myself. It’s great to have an understanding of the tax forms and I have been able to increase tax credits and deductions over the years because of this. I typically have used the free software offerings but would welcome trying out turbotax offerings. I used to use quicktax years ago but since then have used an accountant and now as mentioned have been doing it myself for the last 3 years.

  • Avatar DG April 21, 2013, 10:27 am

    I decided to try Turbotax online this year despite security concerns about storing stuff in “the cloud”. Since I purchased the download version in prior years, I tried to login with my existing account. Long story short, I forgot my password and it wasn’t accepting my answer to the “security question”, so I was unable to login to this account. I phoned them up and was told they cannot reset the password and the solution is to create a new account. Ouch.

    What if I had old returns in that account that I needed to get to? Yes, it is my fault for not taking care of my password, but there is zero recourse for me to get into this account.

    Anyway, this seals the deal for me; I will not do the online version this year.

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