The reason is simple, although not obvious if you’ve never used TurboTax before: If you start with TurboTax Deluxe and enter all your information only to find that the standard deduction is more valuable than itemizing, you’ll have to either pay the Deluxe fee ($39 at this writing, plus $40 per state) or clear out all the information and start over with the Free Edition.
Even if you might have some deductible expenses, such as mortgage interest or charitable donations, it’s better to start here and upgrade to Deluxe only if you’re required to. Although TurboTax bills its Free Edition “for simple tax returns only” and recommends TurboTax Deluxe if you want to “maximize tax deductions and credits” (who doesn’t?), we think most people should start with the Free Edition. TurboTax is the best online tax software because of its thorough and intelligent interview process. Unlike TurboTax Free Edition, H&R Block Free Online covers the student loan interest deduction and the tuition and fees statement, so you’ll save about $40 on your federal return plus another $40 on your state return (at this writing), if you have only those additional forms to file.Ĭonfused yet? Here’s a flowchart of the options we recommend this year:
A professional service is more expensive, but it will save you time and stress and potentially uncover hidden tax breaks that even the best tax software might not surface.
There are premium features that can do more, but the basic free version is probably fine for students. You can sound an alarm, send a message that will pop up on the screen or even lock the device. If you mark your laptop as missing, Prey will send you status reports including location, screenshots, and pictures.
Prey is free software that you can download to your PC or Mac (and mobile devices, too) that will monitor your device’s location and let you know when it leaves a certain radius (your dorm, for example). Losing a laptop can be devastating for a student, since so much of their lives (and school work!) is probably stored there. Free Software for Students - Best Software Alternatives.