Updated on Sunday, December 22, 2024: TurboTax offers a variety of ways to save money during the 2025 tax season, especially if you’re filing with simple returns or need specialized tax tools. Below are the current discounts and promotions available today:
- 10% Off TurboTax Online Versions
- Get an extra 10% off TurboTax Online versions with instant coupon. This discount applies to federal tax filing products only, and you can combine this offer with early-season discounts. Please note that the offer excludes state products and ends on January 31, 2025.
- Free Edition for Simple Tax Returns
- If you have a basic tax situation, TurboTax’s Free Edition allows you to file both your federal and state returns at no charge. This is great for straightforward filings like the 1040 form. The Free Edition supports basic credits like the Earned Income Tax Credit (EITC), Child Tax Credit, and Student Loan Interest Deduction. However, only about 37% of taxpayers qualify for this option, as it doesn’t support more complex tax situations like business ownership, investments, or itemized deductions.
- 50% Off QuickBooks Solopreneur Bundle
- For freelancers and small business owners, TurboTax is offering a 50% discount on the QuickBooks Solopreneur Bundle for the first three months. The price drops from $20 per month to just $10 per month, giving small business owners access to valuable financial management tools at an affordable rate.
- Free TurboTax for Active Military Personnel
- Active military personnel (E1 through E9 rank) can file their 2025 tax returns for free using the TurboTax Freedom Edition. To qualify, you must provide a military W2 from any fiscal year 2024. For those ranked above E9, the discount is still available, but it won’t be free. There’s an additional discount for higher ranks.
- Genisys Credit Union Member Discount
- Genisys Credit Union members can enjoy a 20% discount on TurboTax products this tax season. Whether you are filing simple returns or need specialized help, this discount applies to several TurboTax plans, including Deluxe, Premier, and Self-Employed. Members can access the discount directly through the Genisys online banking portal, which automatically applies the discount when accessing TurboTax’s platform.
By taking advantage of these discounts, you can save time and money when filing your taxes, whether you’re using TurboTax’s free tools or premium services.
The Genisys Credit Union and TurboTax Partnership
For years, TurboTax has collaborated with various credit unions, including Genisys Credit Union, to offer exclusive discounts to members. As in previous years, this partnership allows Genisys members to file their taxes at a reduced cost. In the 2025 tax season, Genisys Credit Union is offering its members a 20% discount on TurboTax products, a great way to reduce the financial burden of tax preparation.
How Genisys Members Benefit
To access this discount, Genisys Credit Union members simply need to log into their online banking accounts. After logging in, they’ll find a direct link to TurboTax’s website, where the 20% discount will automatically be applied. The discount applies to several TurboTax products, including:
- TurboTax Deluxe: Designed for individuals who want to maximize deductions and credits. Ideal for homeowners or those with significant deductions.
- TurboTax Premier: Best for individuals with investments, rental properties, or other more complex financial situations.
- TurboTax Self-Employed: Tailored for freelancers, independent contractors, and small business owners who need help managing business-related expenses and deductions.
In addition to the discount, members can benefit from a variety of other financial products and services offered by Genisys, making tax season just a little bit easier.
The History of Genisys Credit Union: A Financial Institution for Members
Genisys Credit Union, headquartered in Auburn Hills, Michigan, is one of the largest credit unions in the United States. It was established in the late 1930s when a group of smaller credit unions merged to form a larger organization aimed at providing more robust financial services to local communities. Today, with more than 250,000 members and assets exceeding $4 billion, Genisys is a key player in the financial landscape, with a strong presence in Michigan, Minnesota, and Pennsylvania.
Genisys Credit Union operates on a cooperative model, meaning it’s owned by its members rather than shareholders. This model allows Genisys to prioritize member benefits over profits, which is a significant advantage over traditional banks. Members often enjoy lower fees, better interest rates, and more personalized service.
Services and Products Offered by Genisys Credit Union
Genisys Credit Union offers a wide array of financial products designed to meet the needs of individuals, families, and small businesses. These services include:
- Checking and Savings Accounts: Genisys offers competitive interest rates and low fees, ensuring that members get the most value from their accounts.
- Loans and Mortgages: Whether you’re purchasing a new car or applying for a mortgage, Genisys provides loans at more favorable rates than many traditional banks.
- Credit Cards: With low-interest rates, cashback rewards, and no annual fees, Genisys credit cards offer excellent value to members.
- Investment and Retirement Services: Genisys helps members plan for their future with investment accounts and retirement plans like IRAs.
- Business Banking: Small businesses can benefit from business accounts, loans, and lines of credit tailored to their needs.
In addition to these products, Genisys is committed to providing financial education, offering resources to help members make informed decisions about budgeting, saving, and investing.
Genisys Credit Union and Tax Season: A Helping Hand for Members
Although Genisys does not directly provide tax preparation services, it offers valuable resources that help members during tax season. Through partnerships like the one with TurboTax, members can save money and simplify their tax filing process. Additionally, Genisys provides several tax-related financial products that can benefit its members during this time.
Key Tax-Related Benefits for Genisys Members
- TurboTax Discount: The 20% discount on TurboTax products is an excellent way for members to save on tax preparation services. This offer is available for all types of tax situations, from simple to more complex returns.
- Tax-Advantaged Accounts: Genisys offers accounts such as Traditional and Roth IRAs. Contributions to a Traditional IRA may reduce taxable income, while Roth IRAs allow for tax-free growth, providing benefits during tax season.
- Direct Deposit for Tax Refunds: Members can receive their tax refunds directly into their Genisys accounts, ensuring faster and more secure deposits.
- Financial Counseling: Genisys offers financial counseling to help members navigate the tax implications of their financial decisions, including loans, investments, and savings.
Leveraging Genisys for Better Tax Planning
As tax season approaches, here are a few strategies for leveraging Genisys Credit Union’s services to optimize your financial situation:
- Maximize Tax-Advantaged Accounts: Before the tax deadline, consider contributing to an IRA or other tax-advantaged accounts. This can reduce your taxable income for 2024 and provide long-term tax benefits.
- Utilize Direct Deposit for Fast Refunds: Direct deposit ensures that your tax refund is deposited securely into your Genisys account, speeding up the process.
- Seek Financial Advice: If you’re unsure about how your Genisys accounts or financial products affect your taxes, reach out to their financial advisors for guidance.
The Benefits of Banking with Genisys Credit Union
Banking with Genisys Credit Union offers several advantages, particularly when it comes to managing your finances during tax season. Some of the key benefits include:
- Lower Fees and Better Rates: Because Genisys is a member-owned institution, it offers lower fees and better interest rates on loans, savings, and checking accounts compared to traditional banks.
- Member-Focused Approach: Unlike profit-driven banks, Genisys prioritizes the needs of its members, ensuring that their financial interests are always the primary focus.
- Exclusive Discounts: Through partnerships with organizations like TurboTax, Genisys offers exclusive discounts that can help members save money during tax season.
- Financial Education: Genisys offers tools and resources to help members make informed decisions about budgeting, investing, and saving—important during tax season when financial decisions are top of mind.
Potential Drawbacks of Genisys Credit Union
While Genisys offers many benefits, there are a few considerations to keep in mind:
- Membership Requirements: Like most credit unions, Genisys has specific eligibility criteria for membership. While these are often broad, such as residing in certain areas or being affiliated with certain organizations, they may still limit access for some individuals.
- Limited Branch Network: Genisys operates primarily in Michigan, Minnesota, and Pennsylvania, so if you’re outside these areas, you may not have access to all its services.
- Fewer Digital Features: While Genisys has made strides in online and mobile banking, it may not offer as many cutting-edge digital features as larger banks.
Our Final Thoughts
Genisys Credit Union’s partnership with TurboTax is just one of the many ways this credit union supports its members during tax season. By offering a 20% discount on TurboTax products, Genisys makes it easier for members to file their returns without breaking the bank. Beyond this discount, Genisys offers a range of financial products and services that can help members optimize their financial health during tax season, from tax-advantaged accounts to direct deposit for tax refunds.
As tax season approaches, consider how Genisys Credit Union’s products and services can support your financial goals. Whether you’re filing a simple return or managing more complex finances, the resources provided by Genisys can help you navigate the process with ease.