Updated on Tuesday, December 31, 2024: Tax season is officially here once again, and if you’re looking for ways to save on filing your taxes with TurboTax, then you’ll have several options available to you. That incudes free filing for simple returns and exclusive offers for specific groups (including members of major credit unions such as Suncoast). Here’s a list of the current offers now live through the end of January, 2025:
Extra 10% Off TurboTax Federal Products
TurboTax is offering an additional 10% instant discount on federal tax filing products purchased directly through its platform. This discount complements their early-season promotion, which provides up to 40% off. However, this deal applies only to federal products and does not extend to state filings. Keep in mind that the offer cannot be combined with other promotions and will expire on January 31, 2025.
TurboTax Free Edition for Simple Returns
For those with uncomplicated tax situations, TurboTax’s Free Edition is an option. It allows users to file both federal and state taxes at no cost, making it ideal for straightforward returns such as those using Form 1040. This edition supports common credits, including:
- Earned Income Tax Credit (EITC)
- Child Tax Credit
- Student Loan Interest Deduction
While about 37% of taxpayers qualify for the Free Edition, it’s important to note that it doesn’t accommodate more complex scenarios like business ownership, itemized deductions, or investment income. If your financial situation fits within the parameters of this edition, it’s an effective way to save on tax preparation costs.
50% Off QuickBooks Solopreneur Bundle
TurboTax’s partnership with QuickBooks offers a 50% discount on the Solopreneur Bundle for the first three months. This package is tailored to self-employed individuals and small business owners, reducing the cost from $20/month to $10/month. It’s a great tool for managing expenses, invoices, and tax preparation all in one place.
TurboTax Freedom Edition for Military Personnel
Active-duty military members ranked E1 through E9 can take advantage of TurboTax’s Freedom Edition at no cost. This version is designed to meet the unique tax filing needs of service members. Those ranked above E9 are not eligible for the free version but can still access additional discounts. To qualify, you’ll need to provide a military W-2 form from fiscal year 2024.
Discounts Through Financial Institutions
TurboTax frequently collaborates with large financial institutions, including major banks and credit unions, to offer exclusive discounts to their customers. That incudes Bank of America, AAA, Vanguard, Citibank, Chase and Fidelity. Many of these deals are available through your institution’s online banking portal under sections like “Deals” or “Partnerships.” If you’re a member of a bank or credit union, it’s worth checking for any available offers.
TurboTax and Suncoast Credit Union Partnership
If you’re a member of Suncoast Credit Union, TurboTax is once again offering discounts to members the 2025 tax season. Suncoast members can receive a 20% discount on TurboTax federal products by accessing the offer link through their account portal. This deal applies only to federal filings and excludes state products. Additionally, Suncoast members can also save $25 on in-office tax preparation services with H&R Block. These discounts provide members with flexible options for handling their tax filings, whether they prefer DIY software or expert assistance.
It’s important to note that TurboTax’s offer through Suncoast cannot be combined with other promotions. Prices are determined at the time of purchase or e-filing and may change without prior notice. For additional terms and conditions, members should review the details on the credit union’s portal before proceeding.
About Suncoast Credit Union
History and Background
Suncoast Credit Union, founded in 1934, is Florida’s largest credit union and serves over one million members. Originally established to serve teachers, the credit union has since expanded to offer membership to residents, employees, and students in eligible counties across the state. Suncoast Credit Union is a not-for-profit organization, meaning its profits are reinvested into member benefits, such as lower loan rates, higher savings rates, and fewer fees.
With a strong focus on community involvement, Suncoast supports educational programs and financial literacy initiatives throughout Florida. The credit union’s commitment to providing affordable financial services has made it a popular choice for individuals seeking a member-focused alternative to traditional banks.
Membership Eligibility and How to Join
Becoming a Suncoast Credit Union member is straightforward. Eligibility includes:
- Living, working, or attending school in one of the eligible counties in Florida.
- Being an employee or retiree of certain organizations.
- Having a family member who is already a Suncoast member.
If you don’t meet these criteria, you can still qualify by making a small donation to the Suncoast Credit Union Foundation. Applications can be completed online or in person at one of their branch locations.
Once you’re a member, you’ll have access to a wide range of financial products and services, including loans, credit cards, and investment options. During tax season, Suncoast’s partnerships with tax service providers add even more value.
Tax Season Resources for Suncoast Members
Suncoast Credit Union offers several tools and services to assist members during tax season. These resources are designed to streamline the filing process and help members maximize their refunds while staying organized.
Tax Forms and Documentation
Suncoast makes it easy to access tax documents like 1099-INT forms, which report interest earned on accounts. Members can:
- Log into Suncoast’s online banking platform and navigate to the Tax Forms section.
- Request paper copies from their local branch.
For accounts with interest earnings below $10, a 1099-INT form may not be issued, but year-to-date interest details can still be found in monthly account statements.
Financial Education and Planning
Suncoast emphasizes financial literacy and offers workshops, webinars, and one-on-one consultations to help members prepare for tax season. These services can assist with:
- Identifying potential deductions and credits.
- Reviewing financial strategies to reduce taxable income.
- Planning for long-term financial goals, such as retirement or investments.
Savings Options for Tax Refunds
To make the most of a tax refund, Suncoast encourages members to consider opening a share certificate. These accounts allow funds to grow over time with higher interest rates compared to regular savings accounts. Members can choose terms that align with their financial goals, maximizing the value of their refunds.
Suncoast Credit Union: Benefits and Drawbacks
Advantages
- Member-Centric Approach: As a not-for-profit institution, Suncoast reinvests profits into member benefits, resulting in lower fees and competitive rates.
- Comprehensive Services: Members have access to a wide range of financial products, from basic savings accounts to specialized loan options.
- Tax Season Perks: Partnerships with TurboTax and H&R Block provide members with discounts on tax preparation services.
- Digital Tools: Online and mobile banking platforms make it easy to manage accounts, access tax forms, and track finances.
- Community Focus: Suncoast actively supports educational initiatives and local charities, reinforcing its commitment to member communities.
Drawbacks
- Geographic Limitations: Membership is limited to specific regions in Florida, which may exclude potential members outside the service area.
- Limited Physical Branches: While the credit union’s digital tools are robust, those who prefer in-person banking may find fewer branch locations compared to national banks.
Suncoast Credit Union members and others can make tax season more manageable by following these simple strategies:
Stay Organized
Gathering all necessary documents ahead of time can save you headaches later. Make sure to have W-2s, 1099s, and receipts for deductible expenses on hand. If you’re using a preparer, ask them for a checklist of required documents to streamline the process.
Explore Free Tax Assistance Programs
The IRS offers free tax preparation assistance through programs like Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE). These programs cater to low-income individuals, seniors, and those with disabilities or limited English proficiency. To find a nearby program, call 2-1-1 or visit the IRS website.
Use Discounts on Tax Services
Even if you don’t qualify for free assistance, many tax preparation companies and financial institutions offer discounts. Check with your bank or credit union for available deals to save on software or professional services. TurboTax, for example, offers various discounts that could be combined with early-season savings. By staying informed and leveraging available resources, tax season doesn’t have to be stressful. Whether you file independently or seek professional help, these strategies can make the process smoother and more affordable.