Tax season can be a stressful time for many of us, but thankfully there are numerous online tax preparation software options that make filing your taxes much easier. Two of the most popular and well-known tax software programs are Freetaxusa and Turbotax. But which one is better?
In this blog post, we will be comparing Freetaxusa vs Turbotax to help you decide which one is more accurate, affordable, and efficient in helping you file your taxes with ease. So whether you're a seasoned pro or new to preparing your own taxes, keep reading to find out which option may be right for you!
What is Freetaxusa?
Freetaxusa is an online tax preparation software that offers a wide range of services to help individuals and businesses file their taxes. The software was created in 2001 and has since become one of the most popular options for those looking to prepare their own taxes.
One of the main features that sets Freetaxusa apart from other tax preparation software is its affordability. Unlike many other programs, Freetaxusa is completely free for federal filing - no hidden fees or charges required! Additionally, state filing can be done at a low cost compared to competitors.
The platform itself is user-friendly and easy to navigate; even if you've never filed your own taxes before, you should have no trouble using this program. Plus, customer support via email and phone are available if needed.
Freetaxusa also offers a variety of additional tools such as calculators and resources for deductions and credits that can help maximize your refund or minimize what you owe. Freetaxusa's combination of affordability, ease-of-use, and helpful resources make it a great option for anyone looking for an accessible way to file their taxes online.
What is Turbotax?
TurboTax is a tax preparation software that helps individuals and small business owners file their federal and state income taxes accurately. The software was first introduced in the 1980s and has since then become one of the most popular tax preparation tools on the market.
TurboTax offers a user-friendly interface, where users can input all their financial information, including W-2 forms, 1099 forms, deductions, credits and expenses. Users can also access live support from TurboTax experts through chat or phone if they need assistance with any part of the process.
One of the key features of TurboTax is its ability to identify potential deductions and credits that users may be eligible for based on their specific financial situation. This feature ensures that users are not leaving money on the table during tax season.
Another benefit of using TurboTax is its accuracy guarantee. If there are any errors in your return due to a mistake made by TurboTax, they will pay any resulting penalties or interest fees.
Turbotax provides an easy-to-use tool for filing accurate tax returns which makes it popular among taxpayers who want convenience when submitting their taxes.
Freetaxusa vs Turbotax: Which one is more accurate?
The Freetaxusa vs Turbotax are two popular tax filing software options available to taxpayers. When it comes to accuracy, both programs work hard to ensure that your taxes are filed correctly. However, there may be some differences between the two in terms of their level of accuracy.
Freetaxusa uses a step-by-step process where you enter your information manually into the system. The program checks for errors as you go along, and provides alerts if something seems incorrect or missing. Additionally, Freetaxusa offers an accuracy guarantee on all returns filed with their software.
Turbotax also has a similar step-by-step process but takes it one step further by using intelligent algorithms that automatically fill out certain fields based on your previous tax filings or information inputted from external sources like W-2s or 1099s. This feature can help reduce human error and increase overall accuracy when filing taxes.
Both Freetaxusa and Turbotax offer high levels of accuracy when it comes to filing tax returns. It's important to remember that no software is perfect and mistakes can still happen even with the most accurate systems in place. Ultimately, choosing between these two programs will depend on what features are most important to you as well as which one fits best within your budget.
The Different between Freetaxusa and Turbotax
When it comes to filing your taxes online, there are two popular options available: Freetaxusa and Turbotax. While both platforms offer similar services, they have some key differences.
One of the main differences between Freetaxusa vs Turbotax is their pricing structure. Freetaxusa offers a completely free federal tax return service for those with simple tax returns, while Turbotax charges a fee for all of its services.
Another difference between these two platforms is the level of customer support they provide. While both offer email support, only Turbotax offers phone support for its customers.
In terms of user interface, Freetaxusa has a simpler design compared to Turbotax's more complex layout with additional features such as importing data from previous years' tax returns or W-2 forms.
When it comes to accuracy in filing taxes online, both platforms claim 100% accuracy guarantees. However, users report mixed experiences and results when using either platform which shows that neither is entirely foolproof when it comes to preparing accurate tax returns.
While both Freetaxusa and Turbotax have their unique strengths and weaknesses based on personal preferences you can choose one over the other depending on what best suits your specific needs as an individual taxpayer or business owner.
Which one is cheaper?
When it comes to comparing Freetaxusa vs Turbotax, one of the main factors that come into play is which one is cheaper. Both platforms offer different pricing options depending on your needs.
Freetaxusa's basic plan is completely free for federal tax returns, but state returns cost an additional fee. Their deluxe plan costs $6.99 for federal and $14.99 per state return, while their premium plan costs $12.95 for federal and $14.99 per state return.
On the other hand, TurboTax offers a range of plans ranging from free to more expensive packages with various add-ons included in each package such as access to live CPAs or enrolled agents who can assist you with any questions you may have during the filing process.
Freetaxusa appears to be cheaper than Turbotax if we compare their basic plans side by side since there are no charges for filing a federal tax return compared to TurboTax where there are some fees involved even with their free option. However, when it comes down to choosing a comprehensive package that includes complex filings or expert support features –TurboTax becomes more affordable than Freetaxusa in many cases based on individual requirements and circumstances.
Which one is better for filing taxes?
When it comes to filing taxes, both Freetaxusa and Turbotax offer reliable services. However, depending on your specific tax situation, one may be better suited for you than the other.
Freetaxusa is a great option for those who have simple tax returns or are on a budget. It offers a free federal return filing and low-cost state return filing options. The software is user-friendly and easy to navigate even for those new to filing taxes online.
Turbotax, on the other hand, caters to more complex tax situations such as self-employment or investments. Its step-by-step guidance ensures that nothing is missed when it comes to deductions or credits. Additionally, its audit support feature provides peace of mind should your return be selected for an IRS audit.
Ultimately, which service you choose depends on your individual needs and preferences. Consider factors such as cost, ease of use, customer support and features offered before making a decision.
Conclusion
After Freetaxusa vs Turbotax comparison, it’s clear that both tax preparation software options have their pros and cons. Ultimately, the best choice for you will depend on your specific needs.
If you’re looking for affordability, Freetaxusa is definitely the way to go. Not only do they offer free federal filing for simple returns, but their pricing structure is significantly lower than Turbotax across the board.
On the other hand, if accuracy is your top priority and you’re willing to pay a bit more for it, Turbotax may be a better fit. Their user-friendly interface and robust support options make them an excellent choice if you need extra help navigating complicated tax scenarios.
So which one should you choose? It really comes down to what matters most to you when it comes to preparing your taxes. Take some time to compare features and pricing between these two platforms before making your final decision – chances are good that one of them will be a great fit for all of your tax prep needs!
Source: https://lexcliq.com/comparing-freetaxusa-and-turbotax-for-accurate-tax-returns/
