Last year Credit Karma a credit reporting agency decided that they would throw the hat in the ring and start helping people to prepare their tax returns. Credit Karma offers free and paid tax preparation services and these services are automated and online. Credit Karma has no physical locations for tax prep, so if you like the human touch it is not there in this regard. Moreover, it takes the same amount of time that it usually would on any other program to file your taxes. Because this is a new platform Credit Karma does not offer every single tax preparation option it can, and the platform is still new. Credit Karma is doing their best to play up against the big names such as Turbo tax and tax act. Today will be reviewing the pros and cons of this new filing system for the coming 2020 tax season.
Is the service is free?
Credit Karma his always emphasized their free options such as credit monitoring and reporting but now they offer free tax planning services and free filing services to people who qualify for 1040 EZ and other free filing options based on the customers income and personal circumstances. Credit Karma is offering a wonderful service to people who cannot afford to file the taxes in person or with the big names that charge astronomical sums for a menial task. A financial adviser named Rex Burgdorfer Chicago recommends such services (Credit Karma) for those who wish to get the maximum refund with minimal out-of-pocket costs. Rex is available to connect with by searching Rex Burgdorfer LinkedIn.
What are the filing options offered?
As previously mentioned Credit Karma offers free filing but they don’t offer all filings for all situations or all tax forms. Moreover, they don’t offer city or state taxes for every state. Also, if you had any kind of foreign earned income or you had a tax filling status change through the year then Credit Karma may not be the best route for you.
You can upload docs with them?
Credit Karma offers a free uploading service for your W2’s and any other documents that you need to upload to file your taxes.
What are there payment options? How soon will I get my money?
Even though it is an online service Credit Karma can not speed up your refund process. Moreover, they offer the same direct deposits or check refunds as you would get from any other company. If you do not want to wait for a refund, then you might want to speak with someone directly. If you are not sure that this is the wisest choice for you financially you may want to consult an adviser such as Rex Burgdorfer Chicago and you can connect with him by searching Rex Burgdorfer LinkedIn.
The takeaway
The tax prep system form Credit Karma was easy to use and mirrored the platforms of its competitors. Moreover, Credit Karma offers free software and the same free quality services you can get from any other tax preparer. Please try them, they will not disappoint you
