Updated on Monday, December 30, 2024: Tax season is here once again and as always, TurboTax is offering a variety of discounts to help you save money when filing your return. From free options for simple returns to exclusive offers for military personnel, there are several ways to reduce costs. Here’s a closer look at our favorite TurboTax 2025 discounts available from now through January 31st, 2025:
Extra 10% Off TurboTax Federal Products
TurboTax is providing an additional 10% instant coupon on its online federal tax products when purchased directly through Intuit. This offer stacks with the early-season discount of up to 40%, offering significant savings for those filing early. The discount is applicable only to federal tax filings and excludes state products. It also cannot be combined with other TurboTax offers. This promotion is valid until January 31, 2025, so acting quickly is necessary to take advantage of the deal.
Free Edition for Simple Tax Returns
TurboTax’s Free Edition is designed for taxpayers with basic filing needs, such as individuals with straightforward returns (e.g., Form 1040). This option supports certain tax credits, including:
- Earned Income Tax Credit (EITC)
- Child Tax Credit
- Student Loan Interest Deduction
Users filing both federal and state taxes can do so at no cost with this edition. However, it doesn’t support more complex situations, such as business ownership, itemized deductions, or investment income. Approximately 37% of taxpayers qualify for the Free Edition, making it a good option for those with uncomplicated tax situations.
50% Off QuickBooks Solopreneur Bundle
For self-employed individuals and small business owners, TurboTax offers a 50% discount on the QuickBooks Solopreneur Bundle for the first three months. This bundle, available for just $10 per month (down from $20), is designed to simplify expense tracking, invoicing, and tax preparation.
TurboTax Freedom Edition for Military Members
Military personnel ranked E1 through E9 are eligible for TurboTax’s Freedom Edition at no cost. This version is tailored to meet the unique tax needs of active-duty service members. For those ranked higher than E9, discounted pricing is available instead. To claim the free or discounted option, a military W-2 form from fiscal year 2024 is required.
Discounts Through Financial Institutions
TurboTax frequently partners with major banks and credit unions to provide exclusive member discounts. This incudes Bank of America, AAA, MACU, Capital One, American Express, and Robinhood. Many of these offers can be accessed through your institution’s online banking portal under “deals” or “member benefits.” Checking for these promotions could help you save even more during tax season.
TurboTax Partnership with Randolph-Brooks Federal Credit Union (RBFCU)
For years, TurboTax has collaborated with Randolph-Brooks Federal Credit Union (RBFCU) to offer its members a special discount. This year, RBFCU members can enjoy a 20% discount on TurboTax federal products.
The discount is available exclusively through the RBFCU online portal, where members can follow the designated link to access the offer (no coupon or special offer code is needed). The savings apply only to federal tax filings and cannot be combined with other promotions. Additional terms and conditions may apply, with pricing determined at the time of purchase or e-filing. This partnership exemplifies RBFCU’s commitment to supporting its members during the busy tax season.
About Randolph-Brooks Federal Credit Union (RBFCU)
History and Background
Randolph-Brooks Federal Credit Union (RBFCU) was established in 1952 at Randolph Air Force Base in Texas. Initially created to serve military personnel and their families, RBFCU has since expanded its membership to include residents, employees, and businesses across select regions in Texas. Today, RBFCU stands as one of the largest credit unions in the United States, with over 1 million members and more than $15 billion in assets.
RBFCU’s mission is to provide affordable financial products and services while promoting financial education and security for its members. By focusing on low fees and competitive rates, the credit union aims to deliver value to its community.
Membership Eligibility and How to Join
Becoming an RBFCU member is simple. Eligibility extends to individuals who:
- Reside or work in specific counties in Texas.
- Are employees of select companies or organizations.
- Have family members who are existing RBFCU members.
Individuals who don’t meet these criteria can still join by making a small donation to an affiliated organization. Applications can be completed online or in person at a branch. Once approved, members gain access to a wide range of financial products, from basic savings accounts to specialized loan programs.
Tax-Related Tools and Resources for RBFCU Members
RBFCU provides several resources to assist its members during tax season. These tools are designed to simplify the process and ensure accuracy when filing returns.
Accessing Tax Forms
Members can easily retrieve their tax documents, such as the 1099-INT form, which details interest income earned on accounts. Here’s how to access these forms:
- Log into RBFCU’s Online Banking Portal and navigate to the Tax Forms section.
- Request a paper copy by visiting a local branch.
For accounts that earned less than $10 in interest, a 1099-INT may not be issued. However, year-to-date interest information can still be found in monthly account statements.
Financial Planning Services
RBFCU encourages members to consult with financial advisors to better prepare for tax season. Advisors can help identify deductions, review tax strategies, and ensure all financial documents are in order. Appointments can be scheduled online or in person at participating branches.
eStatements
RBFCU members can sign up for eStatements, which provide electronic access to account statements and tax documents. Going paperless has multiple advantages, including faster access to statements and reduced clutter. Through the online banking platform, members can view and download statements from previous years, as well as other financial notifications.
Financial Products and Services at RBFCU
RBFCU offers a comprehensive lineup of financial products to support its members’ needs throughout the year, including tax season.
Savings and Checking Accounts
RBFCU provides:
- High-Yield Savings Accounts: Competitive interest rates help members grow their savings over time.
- Free Checking Options: Accounts with no monthly fees and access to online and mobile banking tools.
Loans and Credit Products
RBFCU’s loan options include:
- Auto Loans: Low rates and flexible repayment terms.
- Personal Loans: Useful for consolidating debt or covering unexpected expenses.
- Mortgage Loans: RBFCU offers fixed and adjustable-rate mortgage options.
Credit card offerings feature low-interest rates and cashback rewards, which can help members earn money on everyday spending.
Retirement and Investment Services
RBFCU’s investment division provides retirement accounts, such as IRAs, and other long-term savings options. These tools are particularly valuable during tax season, as they may offer tax-deferred growth or deductions.
Benefits and Drawbacks of RBFCU
Advantages
- Affordable Products: RBFCU offers low fees, competitive interest rates, and valuable member benefits like the TurboTax discount.
- Comprehensive Digital Tools: The online and mobile platforms make account management and tax preparation convenient.
- Financial Education: The credit union emphasizes member education through webinars, tools, and financial planning resources.
Disadvantages
- Limited Geographic Reach: Membership and physical branches are concentrated in Texas, which may be less convenient for members outside this area.
- Product Availability: Certain services, such as specialized loans, may only be available to members meeting specific criteria.
Tax Season Tips for RBFCU Members
Preparing for tax season can be daunting, but RBFCU offers several tips to make the process smoother:
- Double-Check Your Information: Ensure that routing and account numbers are correct to avoid delays with direct deposit refunds. RBFCU’s routing number is 3140 8958 2.
- Organize Your Documents: Gather all necessary forms, including W-2s, 1099s, and other financial statements.
- Consult an Advisor: Schedule a meeting with a financial professional to review your tax strategy and identify possible deductions or credits.
RBFCU’s partnership with TurboTax and its comprehensive financial tools make it a valuable ally during tax season. Members can take advantage of these resources to simplify their filing process while maximizing potential savings.