TurboTax Self Employed Edition has become increasingly popular as more people become freelancers, side-hustlers, and small business owners. If you are any of these, then your needs won’t be fully met by the Deluxe and Premier Editions of the leading tax software, as you need industry-specific personal attention.
TurboTax is the most popular tax software for the self-employed because they best understand the needs of the self-employed and small business owners, and can help you find every tax deduction that you are entitled to. In fact, they call their Self-Employed Edition, “The perfect personal and small business tax solution.”
The best part might be that TurboTax Self Employed costs a fraction of what a CPA might charge you, so you get to keep more of your hard-earned money.
So, exactly how much does TurboTax Self-Employed cost?
TurboTax Self-Employed Edition Cost?
The price depends on three things:
- When you e-file – TurboTax products, including Self-Employed, are cheaper early in the tax season
- Whether You want “Live” – TurboTax offers the optional help of a real CPA or tax pro, but it’s an extra expense
- Which promotion you click on – Coupons are available to drop the price of TurboTax’s most popular online products including $20 off Self-Employed
Here is the current online pricing for TurboTax Self-Employed:
- TurboTax Self-Employed: $120 (retail price) or $104.99 w/ coupon
- TurboTax Self Employed LIVE: $200 or $174.99 w/ coupon
TurboTax Self-Employed Live includes unlimited assistance and advice from a real tax professional, which adds an additional $80 to the cost.
Tip: The Self-Employed Edition directly from TurboTax.Intuit.com is cheaper before March 15th of each tax year. After that date, expect the price to go up by about $10!
Is TurboTax Self-Employed Free?
The Self-Employed Edition is not free. TurboTax does have a “Free” Edition, but it’s limited features are not adequate for those who are self-employed. That’s largely because you can’t enter a 1099-Misc form, and the Free Edition lacks navigation through deductions that you would likely qualify for being self-employed.
A free alternative to the Self-Employed Edition is the TurboTax Freedom Edition. However, to use Freedom you have to meet some requirements including either an Adjusted Gross Income (AGI) under $33,000, are active-duty military, or qualify for the Earned Income Tax Credit (EIC).
TurboTax Self Employed Coupon
TurboTax distributes a “coupon” link or banner with promotional pricing to a number of coupon and tax-related blogs.
By clicking on the coupon banner it will apply up to a $20 discount to TurboTax Self-Employed like this:
Once again, you’ll save money by not procrastinating, as the best coupon and promotional pricing for Self-Employed ends on or about March 15th. After that date the savings from the coupon will drop to $10-15 off.
*View today’s promotional pricing
If you are a small business owner, Intuit also has a coupon for 50% off Quickbooks!
Tip: Buying TurboTax Self-Employed software is usually cheaper online than in-store, where it will cost you about $20 more.
“Work smarter, not harder”
TurboTax’s Self-Employed Edition was designed to handle a myriad of personal and business income and expenses. So, whether you’re a small business owner, consultant, freelancer, independent contractor, or just file a 1099-MISC, Self-Employed will cover your unique tax situation and search for every possible deduction.
Top 7 features of the Self Employed Edition:
- Industry specific tax deductions: TurboTax helps you uncover deductions in areas like: ride-share (Uber, Lyft), web development, design and performing arts, photography, real estate, construction, home contracting, and more
- Vehicle tax deduction: TurboTax calculates whether the standard mileage rate or your actual expenses will get you the better tax deduction
- Audit Assessment: Self-Employed analyzes your expenses and income and looks for potential IRS red flags
- Self-Employed deductions: TurboTax searches over 400 potential tax deductions including business travel, entertainment, business supplies and costs to make sure you get every small business tax deduction
- Track expenses in real time: Self-employed works directly with Quickbooks Self Employed to help you stay on top of every expense throughout the year so there’s no confusion or headache during tax season
- Track your miles: Use your phone to track mileage on every trip
- Snap and save receipts: Never lose proof of an expense with this handy feature
Who Should Use the Self-Employed Edition? Small Business Owners, Consultants, & Freelancers… (Oh My!)
Remember that a single missed deduction can cost you hundreds of dollars, so buying the #1-ranked tax software for self-employed individuals is more of an investment than an expense.
Here are some examples of common write-offs that no “free” or basic tax software can handle properly:
- Ride-share driver: Car repairs, car insurance, cell phone, gas
- Consultant: Training courses, computer / devices, software, online training
- Real estate agent: Marketing materials like business cards, home office expenses
- Freelance designer: Software, conference fees, fonts, photography
- Instructors: Supplies, cost of courses, training, travel
Tip: The best coupons are available early in the tax season, usually before March 15th. You may also be able to avoid state filing taxes if you file early, but after the March deadline, there’s no way to avoid the $45 expense of State filing.
We live in a gig economy, and many of us have more than one job or stream of income. For example, I’m a web designer, coach and teacher, and my wife is a drama teacher and blogger. That’s why Self-Employed editions from top names like TurboTax and H&R Block are more popular than ever.
Speaking of the myriad of self-employed who use this software, let’s look at what customers say in their reviews of TurboTax Self-Employed.
Customer Reviews for Self-Employed:
The best place to read reviews is actually on the product pages on turbotax.intuit.com, as there are thousands of ratings and reviews, and they are clearly honest and not screened. It’s also helpful to look at both good and bad reviews when evaluating any product or service. Let’s look at common praise and complaints from Self-Employed users:
Self-Employed: Postitive Reviews
Here are the top pro’s and con’s from customers:
- Easy to follow: Like a good sherpa, customers report that TurboTax guides them through filing with simplicity and a user-friendly interface
- Integration with Quickbooks – Business expenses don’t start in April, so TurboTax Self-Employed works directly with Quickbooks so that you can have a handle on expenses and income all year long.
- Customer Support: TurboTax doesn’t expect a FAQs page to answer your complex tax questions. Many reviews mention the helpful and one-on-one support from trained (and patient!) U.S.-based tax professionals. You can even choose video chat, or allow the agent to view your computer screen to see exactly what you have a question with
- Fair Price: Many small business owners and contractors believe that their only option is the expensive services of a CPA which can easily be several hundred dollars. Even though Self-Employed is pricey, it’s probably less than half than the cost of retaining an accountant
Ok, positive reviews and ratings are great, but now let’s look at why some people didn’t like TurboTax Self-Employed (aka “Home & Business Edition) :
Self-Employed: Negative Reviews
- Cost & Fees: The #1 complaint about the Self-Employed edition is the price. Even though most people think the price of the software is fair, a significant number of users complained that their bill was larger than expected due to unexpected fees plus an extra $39.99 State filing fee.
- Tax Return Rejected: A number of customers who submitted their return close to the deadline found out that their return was rejected by the IRS, and had to resubmit after the deadline. Reasons included incorrect AGI, typos on info like “date of birth,” SSN, etc. that users felt TurboTax should have caught.
- Prefer Paying a CPA – Some customers with complex tax situations were frustrated with the experience and prefer sitting down in-person with an accountant who can sort through forms and answer questions
- Forced to Upgrade: Similar to complaint #1, some users started on cheaper editions such as Deluxe or Premier, and had to pay more after upgrading to Self-Employed during the process. Others complained that the software was not free, as inferred by their advertising.
Best Coupon for Self-Employed Edition?
Working for yourself or owning a small business is tough work. However, saving money is easy when you use our exclusive discount for up to a 20% discount on TurboTax Self Employed:
By clicking above you’ll be taken to our exclusive page at turbotax.intuit.com with discount pricing on Self-Employed and other editions of TurboTax!
Is TurboTax Self-Employed the Best Edition For You?
Wondering if the TurboTax Self Employed Edition is best for you? If you have your own business, freelance, or are an Uber / Lyft driver, then the answer is probably, “yes.”
First, let’s see if you are really “self-employed.”
OK, so you are really self employed then? Now, let’s talk about the features of this software.
Other Tax Software Options for the Self-Employed / Uber Drivers?
If you file a 1099 your options may be limited for which software you can use to adequately cover all of your potential tax deductions. The most comparable and popular alternative to TurboTax Self-Employed is H&R Block’s Self-Employed version, which costs $20-30 less with coupon.
TurboTax Self-Employed is the most expensive of their individual software options, costing more than Deluxe and Premier, but less than TurboTax Business. Also, if you don’t specifically need the features of Self-Employed, there are cheaper editions of TurboTax tailored to the specific needs of college students and military or USAA.
While the cost of TurboTax Self Employed is $120+ plus State filing fees, it is still significantly less expensive than paying a CPA to file your self employment taxes, which can cost hundreds of dollars more.
Also, consider that a single missed deduction can be an expensive mistake, so as an entrepreneur or small business owner I would avoid free or lesser-known tax software.
If you do decide to go with TurboTax, you can get the best price online with our exclusive discount here! Either way, good luck with your business, and with filing your taxes! Thanks for stopping by Mighty Taxes!
*Related: TurboTax Business Review