Updated on Tuesday, December 31, 2024: For those gearing up for tax season, here is a comprehensive list of TurboTax’s 2025 discounts to help you save when filing. These offers cater to a variety of taxpayers, whether you’re filing a simple return or managing a more complex financial situation. Here are the details:

Extra 10% Off TurboTax Online Versions
TurboTax is offering an additional 10% discount with instant coupon on its federal products when purchased directly through Intuit. This discount applies on top of early-season discounts, which can go up to 40%. Note that the offer is exclusively for federal products and does not include state filings. This promotion ends on January 31, 2025, and cannot be combined with other TurboTax offers.

TurboTax Free Edition for Simple Returns
If your tax situation is straightforward, the TurboTax Free Edition might be the right choice. It allows eligible taxpayers to file both federal and state taxes at no cost. This edition is ideal for Form 1040 filings and supports a limited set of credits, such as the Earned Income Tax Credit (EITC), Child Tax Credit, and Student Loan Interest Deduction. However, only about 37% of taxpayers qualify, as the Free Edition does not support complex scenarios like business ownership, itemized deductions, or investment income.

50% Off QuickBooks Solopreneur Bundle
For self-employed individuals, the QuickBooks Solopreneur Bundle is available at a 50% discount for the first three months. This reduces the cost from $20 per month to $10 per month, providing a cost-effective tool for managing your business finances during tax season.

TurboTax Freedom Edition for Military Personnel
TurboTax provides a free option for active-duty military members ranked E1 through E9 through its Freedom Edition. Those with higher ranks can still access a discounted version. To take advantage of this offer, a military W-2 tax form from fiscal year 2024 is required.

Discounts Through Financial Institutions
TurboTax partners with various financial institutions and credit unions to provide exclusive discounts. Some of the most notable partnerships include AAA, Bank of America, Fidelity Investments, BECU, and Vystar,  If you’re a customer of a participating bank or credit union, check the “deals” or “partnerships” sections of your online banking portal for available promotions.

H&R Block Discounts as an Alternative
For those considering alternatives, H&R Block offers a 20% discount on all its tax software versions through January 31, 2025. This includes Basic, Deluxe+State, Premium, and Premium & Business editions. Additionally, the software enables seamless switching from TurboTax, allowing users to import prior-year tax data in seconds.

TurboTax and Lake Michigan Credit Union (LMCU)

Lake Michigan Credit Union (LMCU) continues its tradition of offering a TurboTax discount to its members for the 2025 tax season. Members can enjoy a 20% discount on TurboTax federal products by accessing the link provided in their online account. Note that this discount applies only to federal products and cannot be combined with other offers. Additionally, LMCU members can take advantage of a $25 discount on in-office tax preparation services from H&R Block.

Lake Michigan Credit Union (LMCU): Background and Tax Season Resources

History and Overview
Lake Michigan Credit Union, established in 1933, is a member-owned financial institution headquartered in Grand Rapids, Michigan. As one of the largest credit unions in the country, LMCU serves over 500,000 members with a range of financial products, including savings accounts, loans, mortgages, and tax-related resources.

Membership and Benefits
Joining LMCU is relatively straightforward. Membership is open to anyone who meets eligibility criteria, such as living, working, or worshiping in a qualifying area, or making a small donation to a partnered organization. Members benefit from competitive rates, low fees, and exclusive perks like the TurboTax discount.

Tax Document Access
LMCU provides members with easy access to tax-related documents:

• Physical Documents: Tax forms such as 1098, 1099-INT, and 1099-MISC are mailed via USPS by January 31.
• Digital Documents: Members opted into eStatements can access digital tax forms in the Tax Center within online banking. Mortgage-related documents are available in the mortgage portal.

Year-End Dividend and Interest Information
LMCU members receive year-to-date dividend and interest information on their December statements. Dividends under $10 are not reported to the IRS, but members are advised to consult a tax professional to determine their filing obligations.

When setting up direct deposit for tax refunds, members should use their full 12-digit account number and LMCU’s routing number, which can be found in the ‘Services’ section of online banking or the mobile app.

Benefits of LMCU for Tax Season

• Convenience: Access tax documents and account information through online banking.
• Discounts: Save on TurboTax and H&R Block services.
• Support: While LMCU does not provide tax advice, members can consult professional resources for assistance.

Considerations

• Tax documents are typically available by January 31, 2025 but members are encouraged to verify their mailing and email addresses to ensure timely delivery.
• The TurboTax discount applies only to federal products, so those filing state taxes may need to explore additional resources.

Filing Taxes with LMCU: Tips and Best Practices

Using the Tax Center
LMCU’s online banking platform features a dedicated Tax Center, where members can:

• View year-end interest and dividend summaries.
• Access digital versions of 1099 and 1098 forms.
• Retrieve account details for direct deposit setup.

Preparing for Tax Season

• Verify Information: Double-check your contact information in online banking to ensure tax forms are sent to the correct address.
• Consult Professionals: If your tax situation is complex, consider hiring a qualified tax professional to maximize deductions and ensure compliance with tax laws.

Filing Options
Members can choose from several filing options:

• Use TurboTax or H&R Block software to file electronically.
• Seek assistance from a tax professional for in-person preparation.
• Leverage free filing options if eligible, such as the TurboTax Free Edition.