When it comes to tax programs, Credit Karma Tax and TurboTax are two of the leading names. While TurboTax has a full line of options, Credit Karma offers a free file product.
If you are confused between Credit Karma TurboTax, you are in the right place. Go through the comparison below to pick the most suited option for yourself.
About TurboTax
TurboTax made its debut in 1984 and soon became popular tax preparation software. Just so you know TurboTax is owned by Intuit, the brand behind financial products like Mint and QuickBooks.
TurboTax uses an interview-style approach for preparing taxes. This is why expect them to ask a variety of tax-based questions while filling out the form.
They offer a large number of products and each of them is available on desktop or online version. The products may cost anywhere between $60 and $200. The four available options are Deluxe, TurboTax Free Edition, Premier, and Self-Employed. For personalized tax support, you will have to pay extra charges
No matter which TurboTax product you choose, you will receive several filer guarantees. These include Maximum Refund Guarantee or Your Money Back, the 100% Accurate Calculations Guarantee, Audit Support Guarantee, and 100% Accurate Expert Approved Guarantee.
Pros
• Offers various products
• Guidance from tax experts
Cons
• Bit pricey
TurboTax Is Best For:
• Taxpayers with complex tax situations
• People who have no issues paying extra money for a more robust software
• Taxpayers who want to experience more personalized support from expert tax professionals
About Credit Karma
Credit Karma was founded in 2007. Since then it has gained the reputation of a well-known personal finance company. The main goal of the company is to provide education and tools to people to make financial progress.
They have their headquarters located in San Francisco and are trusted by more than 84 million people who rely on their free services such as free credit score details and free reports.
Credit Karma Tax is an online program. They also offer a mobile-first filing experience, so that you can file your taxes directly from your smartphone.
Credit Karma Tax is different from other tax preparation software programs. They provide one free plan and allow users to file both their state and federal returns. The best thing about using Credit Karma Tax is that you don’t have to pay a single penny for their service.
In case of a refund, you can decide to deposit it into an existing Credit Karma bank account or open a new one.
Pros
• Offers free services
• Gives mobile tax filing experience
Cons
• Not suitable for all tax situations
• Signing up is compulsory
Credit Karma Is Best For:
• Taxpayers who have simple tax situations and want free software
• People who want to enjoy the convenience of filing their taxes directly from their smartphones
• Taxpayers who are good without a lot of support
While Credit Karma Tax is free, TurboTax is a paid service. But both the companies cater to different types of customers. You will have to choose based on what you need.
