FreeTaxUSA Vs TurboTax – Which Tax Tool is Right For You?
As the tax season approaches, many people are wondering which tax preparation software is right for them. Two popular options are FreeTaxUSA and TurboTax. In this blog post, we’ll take a closer look at these two tax preparation software programs – FreeTaxUSA Vs TurboTax and compare their features, pricing, and customer support to help you make an informed decision.
FreeTaxUSA is an online tax preparation software that offers a range of tax filing services. It is a cost-effective solution for individuals looking to file their federal and state taxes without breaking the bank. With FreeTaxUSA, you can file your federal tax return for free, and state returns for a minimal fee.
TurboTax is another popular tax preparation software that offers comprehensive tax filing services. It is known for its user-friendly interface and helpful features, such as its “SmartLook” feature that allows you to connect with a tax professional for personalized support. However, TurboTax is generally more expensive compared to FreeTaxUSA.
One of the most significant differences between FreeTaxUSA and TurboTax is their pricing. As mentioned earlier, FreeTaxUSA offers free federal tax filing, and state filing starts at $14.99. In contrast, TurboTax charges for both federal and state filing, with prices ranging from $0 to $120 for federal filing alone, depending on the level of service you require. State filing fees start at $50.
Both FreeTaxUSA and TurboTax offer a range of features to make the tax filing process as simple and efficient as possible. FreeTaxUSA offers a step-by-step guide to filing your taxes, and it also provides a refund calculator to help you estimate your refund.
TurboTax, on the other hand, offers a more comprehensive range of features, such as the “SmartLook” feature mentioned earlier, which allows you to connect with a tax professional for personalized support. TurboTax also provides a feature called “ItsDeductible,” which helps you track your charitable donations and calculate your tax deductions.
When it comes to customer support, TurboTax generally receives higher ratings from users. TurboTax offers phone, chat, and email support, as well as access to tax professionals via the “SmartLook” feature. FreeTaxUSA, on the other hand, offers phone and email support, but it doesn’t provide access to tax professionals.
FreeTaxUSA Vs TurboTax : Pros and Cons of Both
FreeTaxUSA Pros 👍
- Cost-effective: Free federal filing and low-cost state filing
- Easy to use: Step-by-step guide to filing taxes
- Offers a refund calculator to help estimate refund amount
- Provides phone and email support
FreeTaxUSA Cons 👎
- Limited customer support: No access to tax professionals
- Limited features: Fewer features compared to TurboTax
TurboTax Pros 👍
- Comprehensive: Wide range of features, including “SmartLook” feature for personalized support and “ItsDeductible” for tracking charitable donations
- User-friendly interface: Easy to use
- Access to tax professionals: Chat, phone, and email support, as well as “SmartLook” feature
- Automatically imports information from W-2s and other forms
TurboTax Cons 👎
- Expensive: Costs more compared to FreeTaxUSA, especially for state filing
- Can be confusing: Some users report difficulty navigating certain parts of the software
Major Differences between FreeTaxUSA and TurboTax
Here’s a summary of the differences between FreeTaxUSA and TurboTax in tabular format:
|Cost||Free federal filing, $14.99+ state filing||$0-$120 federal filing, $50+ state filing|
|Features||Step-by-step guide, refund calculator||Comprehensive range of features, “SmartLook,” “ItsDeductible”|
|Customer Support||Phone and email support, no access to tax professionals||Chat, phone, and email support, “SmartLook” with access to tax professionals|
|Ease of Use||Easy to use||User-friendly interface, but can be confusing for some users|
Choosing a Winner – FreeTaxUSA Vs TurboTax
In conclusion, both FreeTaxUSA and TurboTax offer valuable services for tax preparation. FreeTaxUSA is a cost-effective option that is best suited for individuals who are comfortable navigating the tax filing process on their own. TurboTax is a more comprehensive option that provides personalized support and a wider range of features, but it comes at a higher cost. Ultimately, the choice between these two tax preparation software programs will depend on your individual needs and budget. Visit ThinkMoneyTrader for more financial bytes like this.
Frequently Asked Questions
Q: Does TurboTax or FreeTaxUSA offer audit assistance?
A: TurboTax offers audit assistance for an extra fee, while FreeTaxUSA includes it in their Deluxe edition.
Q: Is TurboTax or FreeTaxUSA more expensive?
A: TurboTax has a higher cost compared to FreeTaxUSA.
Q: Which platform offers a wider range of products, TurboTax or FreeTaxUSA?
A: TurboTax offers a wider range of products compared to FreeTaxUSA.