Updated on Tuesday, February 4, 2025: Tax season is officially here and it’s time to start thinking about filing our returns. If you plan on using TurboTax this year then they’ve once again brought us several discounts. Here’s a look at our favorite deals available today:
1. Extra 20% Off TurboTax Online Federal Products
When you purchase TurboTax federal products directly from Intuit, you can get an additional 20% discount with instant coupon. This offer is on top of early-season savings on select “Live” versions, which can go up to 40% off. However, it only applies to federal products and excludes state tax filings. The promotion runs through February 28, 2025, and cannot be combined with other discounts.
2. Switch to TurboTax and You’ll Get it Free This Year
If you skipped TurboTax last year, or never used it at all before, then you have a chance to file all tax forms for free using TurboTax’s mobile app for iOS and Android. You’ll just need to just file by February 18, 2025 to avoid the service fees. Offer open to new customers only and excludes TurboTax Live editions. Learn more.
3. 50% Off QuickBooks Solopreneur Bundle
For freelancers, contractors, and small business owners, QuickBooks is a valuable tool for tracking expenses and preparing for tax season. The Solopreneur Bundle is available at 50% off for the first three months, reducing the price from $20/month to $10/month.
4. TurboTax is Offering to Beat the Price You Paid a CPA or Licensed Tax Preparer Last Year
If you paid a CPA or licensed tax professional to file your 2023 taxes, TurboTax Full Service is offering to beat that price by at least 10%. To secure this deal, you must enroll by March 18, 2025, and submit your 2024 tax return by March 25, 2025. The final price will be determined based on either a 10% discount from your previous tax prep fees or TurboTax’s standard Full Service pricing, whichever results in a lower cost. You may be asked to provide proof of last year’s payment. This offer is valid only for personal tax filings and cannot be used alongside other TurboTax promotions.
5. Free TurboTax Freedom Edition for Active Military (Rank E1-E9)
TurboTax offers free tax software to active military members ranked E1 through E9. This Freedom Edition supports both federal and state filings. For higher-ranking service members, TurboTax provides an additional discount instead of free access. A 2024 military W-2 form is required to qualify.
6. Discounts Through Financial Institutions
TurboTax continues to partner with banks and credit unions nationwide to provide exclusive discounts. Customers can check their financial institution’s portal under “deals” or “partnerships” to see if they qualify for additional savings.
7. TurboTax Free Edition for Simple Returns
If your tax situation is straightforward, TurboTax Free Edition offers a no-cost way to file both federal and state taxes. This option supports:
- Form 1040 filings
- Earned Income Tax Credit (EITC)
- Child Tax Credit
- Student Loan Interest Deduction
While appealing, this edition is limited to roughly 37% of taxpayers. It doesn’t accommodate more complex tax scenarios, such as self-employment income, investments, or itemized deductions.
The End of Capital One’s TurboTax Discount in 2025
In recent years, Capital One partnered with TurboTax to offer discounts to its customers. These deals were accessible through the bank’s online portal and provided savings on key TurboTax products like Deluxe, Premier, and Self-Employed editions.
However, for 2025, Capital One is no longer extending this promotion (the link still works but no discount is applied anymore). However, it’s still worth checking your online account portal, as there may be specific offers for select account holders.
Capital One: History, Role in Finances, and Tax Season Connections
An Overview of Capital One
Founded in 1994, Capital One started as a pioneer in the credit card industry, focusing on data-driven solutions to meet customer needs. Over the years, it has evolved into a full-service bank offering checking and savings accounts, loans, and wealth management services.
Capital One stands out for its user-friendly digital banking tools, making it a popular choice for individuals and small business owners. It also offers credit cards with competitive cashback, travel rewards, and other perks that appeal to a broad customer base.
Capital One and Financial Services
Capital One’s emphasis on financial literacy and resource accessibility is a key part of its mission. The bank provides a suite of tools designed to help clients manage their money more effectively, including:
- CreditWise: A free tool that allows users to monitor their credit score and receive alerts.
- Capital One Shopping: A browser extension that helps users find discounts and save on online purchases.
- Mobile Banking App: Features like budgeting tools, spending trackers, and mobile check deposit make it easy to manage finances on the go.
Capital One and Taxes: Benefits and Limitations
Capital One doesn’t directly specialize in tax preparation, but its resources can assist during tax season.
Capital One’s Financial Tools for Tax Season
- Account Statements and Records: Capital One customers can easily access year-end financial summaries, which simplify tax filing for those with credit cards, loans, or savings accounts.
- Small Business Support: For entrepreneurs, Capital One provides business credit cards and checking accounts that make it easier to track expenses and organize tax-deductible purchases.
- Investment Accounts: Capital One Investing (now part of E*TRADE) has offered tools for individuals looking to manage taxable investment income.
Pros of Using Capital One During Tax Season
- Convenient Digital Banking: The mobile app and online platform streamline access to financial records, which are crucial for filing taxes.
- Small Business-Friendly: Business accounts come with features tailored for entrepreneurs, such as transaction categorization.
- Accessibility: No fees or minimum balances on many accounts make it an affordable option for a wide range of customers.
Cons of Using Capital One for Tax Season
- No Dedicated Tax Resources: Unlike some financial institutions, Capital One doesn’t offer specific tools or discounts for tax filing beyond account management.
- Discontinuation of TurboTax Discount: The absence of this discount in 2025 removes a significant benefit for customers.
How to Get Started with Capital One
Capital One makes it simple to sign up for an account or apply for a credit card. Here’s how:
- Online: Visit the Capital One website and complete the application process. Many accounts are approved within minutes.
- In-Person: Capital One has physical branches and Capital One Cafés in select cities, where customers can open accounts or receive personalized financial guidance.
- Mobile App: New customers can download the app and open accounts directly from their smartphones.
Our Final Thoughts
The TurboTax 2025 discounts and the evolving landscape of financial institution partnerships highlight the importance of staying informed during tax season. While Capital One no longer offers its TurboTax discount, customers can still leverage the bank’s digital tools and resources to streamline their tax preparation.
As tax season progresses, explore your options, take advantage of available discounts, and stay organized to ensure a smooth and cost-effective filing process. Whether you’re using TurboTax or another platform, preparation is key to navigating tax season successfully.