Wealthsimple Tax
Category - Tax ReturnWealthsimple Tax Reviews and Product Details
Wealthsimple offers many services, such as crypto investing and banking. One of their most-used products is their tax-return software. Wealthsimple Tax is designed to remove the hassle and stress of tax filing. The platform handles several unique tax situations. For example, you can link your crypto wallet from various exchanges and have the capital gains or losses calculated automatically. Wealthsimple Tax uses smart tools to find every tax deduction possible in order to maximize your refund. Import your income tax slips from your revenue service and Wealthsimple tax will auto-fill your return. In case you run into any problems, Wealthsimple Tax has a team of experts available 24/7.
Wealthsimple Tax is completely free to use. You can buy an upgraded support package for a one-time fee. This upgrade gives you audit support along with tax return help. After submitting your tax return, Wealthsimple Tax will ask if you would like to make a donation to support the platform. This is completely optional, and you can choose any amount.
Features
- Live virtual assistance from tax experts
- Covers multiple tax situations
- Optimize tax deductions and return
- Prepare multiple returns
- Import tax slips
- Autofill
- Automatic tax caluclations
- Keyword search
- Data encryption
- IRS/CRA/ Revenue Québec certified
- Organize tax documents
Wealthsimple Tax pricing
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Free
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Wealthsimple Tax reviews
What our experts think
Wealthsimple Tax is very easy to use. Adding tax slips or importing them from your revenue agency is simple and straightforward. The autofill feature is a helpful tool, and it greatly speeds up the tax filing process. Another positive of Wealthsimple Tax is it is completely free. This makes it one of the most affordable tax return solutions available. In short, Wealthsimple Tax is a good option for people who want to file their taxes efficiently and affordably.
The downside to Wealthsimple Tax is it does not feel as thorough as other tax return software. For example, TurboTax has you fill out several pages of tax-related information. In contrast, Wealthsimple Tax only has a single page where you can import/upload tax documents. As result, users may miss potential tax deductions and errors on their return. For example, one user said Wealthsimple Tax did not highlight unused tuition and education expenses as tax deductions. These two items can significantly lower your taxes owed and may even give you a high tax refund.
About the author
Nicholas Mah