Intuit which is a Financial Software company is the parent company of TurboTax, QuickBooks & Mint. I used TurboTax on and off for years and they just keep pulling me back. Their competitive advantage is in the details. The features are user friendly and very educational. As my taxes got increasingly more complicated, I stopped shopping around for the best price in tax preparation software and started looking for the best bang for my buck. I do have to admit that it does not hurt that USAA members get a discount on their product.
I am not an early adopter of technology or financial tools. Not because I don’t see value in them, but because I prefer to not be a beta tester for something that might be full of bugs and vulnerable to hackers looking to steal my identity or resources. I prefer to let other people take the hit, have the company establish the proper safeguards and then decide whether or not the remedy is sufficient for me to take on the risk of joining. So while my friends used Mint for years, I stayed true to my excel sheet which was less vulnerable to threats since it was not connected to the internet. However, early last year, I decided that Mint was seasoned enough for me to entrust them with my data and it has made my life infinitely easier.
As if that was not enough, as I completed my taxes this year, I found out that anyone who submits their taxes using the self-employed version of TurboTax, gets a one year subscription to the basic version of QuickBooks. I am not one to turn down free anything, so this was an easy decision to make. In fact, the same username and password applied to the QuickBooks account, and it was simply a matter of accepting or declining the offer. The subscription renews with every “self-employed” tax filing. Which means that Intuit is now servicing my household finances, my small real estate endeavors and overall my taxes. They are truly a personal finance powerhouse for those who value a one-stop shop that helps alleviate the burden of financial planning.