Updated on Sunday, December 22, 2024: As tax season approaches, TurboTax is offering several early season discounts to make filing your taxes a little bit more affordable. Here’s a look at our favorite TurboTax offers available right now:
- Extra 10% Off TurboTax Online Versions
TurboTax is providing an additional 10% discount on its federal tax products when purchased directly through Intuit. This discount stacks with early-season savings, making it an excellent opportunity for taxpayers to save more. Note that the offer applies exclusively to federal products (not state) and cannot be combined with other promotions. The discount is valid until January 31, 2025. - TurboTax Free Edition for Simple Returns
For taxpayers with basic tax situations, TurboTax’s Free Edition is a no-cost option to file both federal and state taxes. This is ideal for straightforward filings, such as Form 1040, and supports limited 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 edition, as it excludes more complex scenarios such as itemized deductions, investments, or business income. - 50% Off QuickBooks Solopreneur Bundle
Those managing a small business or freelancing can benefit from TurboTax’s partnership with QuickBooks. The QuickBooks Solopreneur Bundle is available at a 50% discount for the first three months, reducing the cost from $20/month to $10/month. - TurboTax Freedom Edition for Military Members
Active-duty military personnel ranked E1 to E9 can qualify for free access to TurboTax Freedom Edition for the 2025 tax season. For higher-ranking military members, TurboTax offers additional discounts. To access the offer, a military W-2 form from fiscal year 2024 is required. - Credit Union and Financial Institution Discounts
TurboTax has partnered with various financial institutions and credit unions across the country to offer exclusive discounts. Members can typically find these deals through their bank or credit union’s online portal under “deals” or “partnerships.”
TurboTax and Technicolor Federal Credit Union Partnership
For 2025, Technicolor Federal Credit Union (TFCU) is continuing its partnership with TurboTax to provide members with a 10% discount on TurboTax products. This collaboration is especially beneficial during tax season, as it offers an opportunity to save on essential tax preparation services.
TurboTax Discount for TFCU Members
The 10% discount applies to a variety of TurboTax services, including:
- TurboTax Deluxe: Ideal for maximizing deductions, such as those for homeowners or charitable donations.
- TurboTax Premier: Designed for taxpayers with investments, rental income, or cryptocurrency transactions.
- TurboTax Self-Employed: Tailored to freelancers and small business owners, with guidance on industry-specific deductions.
- TurboTax Live and Full Service: Includes live tax expert support or fully managed tax preparation services for added convenience.
The Free Edition of TurboTax, which caters to simple returns, is not eligible for this discount as it’s already free. TFCU members can access the discounted services via a dedicated TurboTax link on the credit union’s website. This offer is valid throughout the 2025 tax season.
About Technicolor Federal Credit Union
History and Background
Technicolor Federal Credit Union was founded in 1952 to serve employees of Technicolor, Inc., a pioneer in the entertainment and media industries. Over the decades, TFCU has expanded its membership to include employees of related companies, contractors, and their families. The credit union is headquartered in Burbank, California, a hub for the entertainment industry.
Membership and Eligibility
TFCU’s membership is focused on individuals and families in the entertainment sector. Eligibility typically extends to:
- Employees of Technicolor, Inc., and affiliated companies.
- Freelancers, contractors, and other professionals in the media industry.
- Immediate family members of eligible individuals.
A small initial deposit in a share account is required to establish membership.
Services and Offerings
Technicolor Federal Credit Union provides a range of financial services tailored to its members’ unique needs:
- Savings and Checking Accounts
TFCU offers high-interest savings accounts and low-fee checking accounts, making it a practical choice for everyday banking. - Loans and Credit Options
Members benefit from competitive rates on auto loans, mortgages, and personal loans. These favorable terms are often better than those offered by larger banks. - Certificates of Deposit (CDs)
CD options with attractive interest rates are available for members looking to grow their savings. - Entertainment Perks
In addition to financial services, TFCU provides discounts on tickets to movies, concerts, and other entertainment events. - Educational Resources
The credit union frequently hosts financial literacy workshops and seminars, offering valuable insights on budgeting, taxes, and long-term financial planning.
Benefits of TFCU Membership
- Member-Focused Service: As a member-owned cooperative, TFCU reinvests profits into improving services and lowering fees.
- Tailored Financial Products: With a deep understanding of the entertainment industry, TFCU caters to the specific needs of freelancers and contract workers.
- Community Engagement: Members benefit from networking events, workshops, and other initiatives that foster a sense of community.
- Access to Shared Branching: TFCU participates in the CO-OP Shared Branching network, providing access to thousands of credit union locations nationwide.
Drawbacks to Consider
While TFCU offers several advantages, there are a few limitations:
- Limited Branch Locations
With its main office in Burbank, members outside the Los Angeles area may find it inconvenient to visit a physical branch. - Restricted Membership Eligibility
Membership is limited to those with ties to the entertainment industry, which may exclude individuals outside this niche. - Smaller Technology Platform
TFCU’s online and mobile banking tools, while functional, may lack some of the advanced features offered by larger financial institutions.
How TFCU Supports Members During Tax Season
Tax season can be a stressful time, but TFCU provides resources to help members navigate it smoothly. In addition to the TurboTax discount, TFCU offers:
- Tax Preparation Assistance: Collaborations with tax professionals to provide discounted or free services.
- Financial Literacy Workshops: Educational events focusing on tax planning, deductions, and financial strategies.
- Refund Management: Encouraging members to deposit refunds into savings accounts to bolster financial stability.
Tax Season Tips for TFCU Members
To make the most of tax season, consider these tips:
- Organize Early: Gather all necessary documents, such as W-2s, 1099s, and receipts for deductions, ahead of time.
- Maximize Deductions: Use tax preparation tools to identify all eligible credits and deductions.
- File Electronically: Filing online is faster and often results in quicker refunds.
- Consult Experts for Complex Returns: TurboTax Live or a professional advisor can provide peace of mind for complicated financial situations.
Our Final Thoughts
The 10% TurboTax discount for Technicolor Federal Credit Union members is a valuable perk that aligns with the credit union’s mission to support its members’ financial well-being. Combined with TFCU’s tailored services, competitive rates, and educational resources, this partnership makes navigating tax season simpler and more affordable.
While TFCU’s niche focus and limited branch access may not suit everyone, its commitment to its members and deep understanding of the entertainment industry make it a standout choice for eligible individuals. If you’re part of TFCU, take advantage of the TurboTax discount and other resources to make this tax season as seamless as possible.