Updated on Sunday, December 22, 2024: TurboTax continues to offer discounts for the 2025 tax season, making it easier for you to file your returns accurately and affordably. Here’s a look at the latest TurboTax offers (available through January 2025), explain the details of the PenAir Credit Union partnership, and explore how PenAir supports its members during tax season.
The Top TurboTax 2025 Discounts
Here’s a summary of all of top deals available today from TurboTax:
10% Off TurboTax Online Versions
Get an additional 10% discount on TurboTax Online versions when purchased directly through Intuit’s website. This discount applies only to federal tax products and can be combined with early-season discounts. Note that state tax products are not included in this promotion. The offer is valid until January 31, 2025.
TurboTax Free Edition for Simple Returns
TurboTax’s Free Edition allows taxpayers with basic returns to file both federal and state taxes for free. This option is suitable for straightforward filings, including Form 1040, and supports select credits such as the Earned Income Tax Credit (EITC), Child Tax Credit, and Student Loan Interest Deduction. However, only about 37% of taxpayers qualify for this edition, as it excludes complex scenarios like business ownership, itemized deductions, or investments.
50% Off QuickBooks Solopreneur Bundle
For freelancers and small business owners, the QuickBooks Solopreneur Bundle is available at half the price for the first three months. Instead of the standard $20/month, new users pay only $10/month.
TurboTax Freedom Edition for Military Members
Active-duty military members ranked E1 through E9 are eligible for free access to TurboTax Freedom Edition. For those ranked above E9, an additional discount is available. To claim this offer, a military W-2 form from the 2024 fiscal year is required.
Exclusive Credit Union Discounts
TurboTax collaborates with many financial institutions across the country, including major banks and credit unions, to offer members exclusive discounts. If you bank with an institution like PenAir Credit Union, you may be eligible for special rates. Check your institution’s online portal for promotions listed under “deals” or “partnerships.”
PenAir Credit Union’s Partnership with TurboTax
As in previous years, PenAir Credit Union is offering its members a 20% discount on TurboTax products. This partnership gives members access to various TurboTax packages tailored to their needs, including:
- TurboTax Deluxe: Ideal for taxpayers looking to maximize deductions and credits, especially homeowners and families with dependents.
- TurboTax Premier: Suited for individuals with investments, rental properties, or other income sources requiring more detailed reporting.
- TurboTax Self-Employed: Designed for freelancers, independent contractors, and small business owners, offering tools to track income and deductions effectively.
To take advantage of this offer, PenAir members simply log into their online banking account or visit the credit union’s website. There, they’ll find a link to the TurboTax platform with the discount already applied.
About PenAir Credit Union
History and Mission
PenAir Credit Union has been serving its members since 1936, making it the oldest and largest credit union in northwest Florida. It was initially founded to serve civil service employees stationed at Naval Air Station Pensacola. Over the years, PenAir has grown significantly, expanding its services to include over 120,000 members across Florida and Alabama.
Like all credit unions, PenAir operates as a member-owned, not-for-profit organization. This structure allows it to prioritize its members’ financial well-being by offering low fees, competitive rates, and personalized service, instead of focusing on generating profits for shareholders.
Financial Services
PenAir offers a comprehensive range of financial products to meet the diverse needs of its members, including:
- Checking and Savings Accounts: PenAir provides accounts with no minimum balance requirements and minimal fees. These accounts come with competitive interest rates to help members grow their savings.
- Loans: Members have access to a variety of loan options, including auto loans, personal loans, mortgages, and home equity loans. PenAir often offers lower rates than traditional banks.
- Credit Cards: PenAir’s credit cards feature competitive interest rates, no annual fees, and cashback rewards, catering to a variety of spending habits.
- Business Banking Services: Small businesses can benefit from tailored checking accounts, loans, and lines of credit designed to help them succeed.
- Investment and Retirement Accounts: PenAir provides Individual Retirement Accounts (IRAs) and other investment options to help members save for the future.
Financial Education
PenAir is committed to empowering its members with financial knowledge. Through educational workshops, online resources, and one-on-one counseling, the credit union equips members with the tools needed to budget, save, and invest wisely.
PenAir Credit Union and Tax Season
Although PenAir doesn’t directly provide tax preparation services, it offers several tools and benefits to support its members during tax season.
Key Tax-Related Benefits for Members
- TurboTax Discount: The 20% discount on TurboTax products is one of PenAir’s standout benefits for tax season. It makes reliable, user-friendly tax software more affordable.
- Tax-Advantaged Accounts: PenAir’s Traditional and Roth IRAs help members save for retirement while offering tax benefits. Traditional IRAs, for instance, may reduce taxable income, while Roth IRAs provide tax-free withdrawals in retirement.
- Direct Deposit for Refunds: Members can set up direct deposit for their tax refunds, ensuring they receive their funds quickly and securely.
- Access to Financial Counseling: PenAir’s financial advisors can assist with tax-related financial planning, such as maximizing deductions or understanding the tax implications of investments.
Advantages of Banking with PenAir Credit Union
PenAir Credit Union provides several advantages for its members, especially when it comes to tax season and broader financial management:
- Lower Costs: As a not-for-profit institution, PenAir offers lower fees and better rates than many traditional banks.
- Personalized Support: Members receive tailored advice and resources designed to meet their specific financial needs.
- Exclusive Member Perks: Partnerships like the TurboTax discount provide additional value.
- Community Involvement: PenAir invests in local communities through charitable donations, financial literacy programs, and volunteer efforts.
Potential Drawbacks
While PenAir offers many benefits, there are a few considerations to keep in mind:
- Membership Eligibility: PenAir’s membership is limited to individuals who meet certain eligibility criteria, such as living in specific areas or being affiliated with a qualifying organization.
- Branch Locations: PenAir’s physical branches are concentrated in northwest Florida and southern Alabama, which may not be convenient for members outside this region.
- Digital Features: While PenAir’s online and mobile banking platforms are improving, they may lack the advanced capabilities of larger national banks.
Making the Most of Tax Season with PenAir Credit Union
If you’re a PenAir member, here are some practical steps to simplify your taxes:
- Use the TurboTax Discount: Save 20% on TurboTax by accessing the link through PenAir’s online portal.
- Contribute to an IRA: Maximize tax benefits and retirement savings by making contributions before the tax filing deadline.
- Set Up Direct Deposit: Ensure your tax refund is deposited quickly and securely into your PenAir account.
- Seek Financial Advice: Consult PenAir’s advisors for guidance on tax strategies, deductions, and other financial decisions.
Our Final Thoughts
PenAir Credit Union’s partnership with TurboTax underscores its commitment to supporting members during tax season. The 20% discount on TurboTax products is a valuable resource for simplifying the often-complicated tax filing process.
Beyond tax season, PenAir stands out as a trusted financial partner, offering affordable services, personalized support, and a commitment to financial education. While there are some limitations, such as regional membership requirements and a smaller branch network, PenAir’s member-focused approach makes it an excellent choice for those who qualify.
As tax season approaches, consider leveraging PenAir’s resources and TurboTax partnership to streamline your filing process and achieve your financial goals.