Imagine if doing your taxes was easy and inexpensive, and when you were finished, you felt confident they were done correctly.

Well, H&R Block offers several options that do exactly that. You can file online or get in-person assistance with a tax pro.

The last thing you want is to pay for features you don’t need or to have lingering doubts that you didn’t do your taxes correctly.

They aren’t the cheapest, but H&R Block has been doing taxes since 1955. This H&R Block review can help you decide if “Block” is the best tax software for you.

At a Glance

• Do your taxes yourself online, or upgrade to having them done in person at your local H&R Block office.
• Free version includes state returns.
• All paid plans include tax assistance, but that assistance may be AI.
• You can upgrade your DIY plan to include having your return reviewed by a tax pro.

Who Should Use H&R Block?

H&R Block is a good option for these tax situations for those who qualify for the free version, as state returns are included. It’s also good for those who may want to upgrade to an in-person experience. Few online tax software have the option to meet in person with tax pro.

However, if you are looking for the cheapest possible option, H&R Block is not for you.

H&R Block Alternatives

DIY Pricing	$0 to $89 for federal $0 to 39 for state	$0 – $22.95 for federal $0 – 39.95 for state	$0 for federal $14.99 for state
Access to a tax pro	Yes	Yes	Yes
Full Service available	Yes	No	No
	Learn more	Learn more	Learn more

H&R Block Online Prices

There are several ways to file your taxes online using H&R Block. All returns start at the Free Online level. The return upgrades to one of the three paid tiers as your taxes become more complex. Below is an overview of how much H&R Block costs with its four filing options.

Also, it’s possible to get tax expert assistance with any plan. Unlimited help from a tax pro is available on all free plans. H&R Block uses both AI and humans to answer tax questions.

H&R Block Free Online

• Federal return cost: $0
• State return cost: $0

The H&R Block Free Online package lets you file one federal and one state tax return for free. This version is for simple, non-itemized tax returns that earn W-2 income but not self-employment income.

Supported Tax Situations

Below are some of the most common tax situations you can file for free:

• W-2 income
• Unemployment income (Form 1099-G)
• Dividends and Distributions (Form 100-DIV)
• Social Security income
• Retirement income
• Interest income
• Earned Income Credit (EITC)
• Child Tax Credit
• Student loan interest deduction (1098-E)
• Tuition and fees statement (1098-T)

Is H&R Block Free Online Really Free?

A surprising number of semi-complex tax returns can qualify for Free Online. But H&R Block charges a fee for these tax situations:

• Itemized tax returns
• Health Savings Account
• Investment gains or losses
• Earn rental property income
• Earn self-employment income

So, you won’t need to pay to file if your daily wages report on a W-2 form and you earn bank interest and stock dividends. However, you will pay if you sell stock shares – even if it’s only one share.

You will also need to upgrade to a paid plan if you want live phone or chat support. You will also not have ongoing access to your return after you file. Paid versions will store the return for six years.

Special Features

The Free Online edition is the most barebones version of H&R Block that doesn’t include many assistance tools. However, if you have a simple return, access to the powerful tool suite isn’t necessary.

H&R Block offers several tools that make filing your taxes quick and easy:

• W-2 Snapshot
• Auto-import last year’s tax return (even if you didn’t use H&R Block)
• Real-time refund updates

The W-2 Snapshot tool prevents data input errors. You can use your phone to take a picture of your W-2 income tax forms, and H&R Block uploads the information to calculate your potential refund.

You can import your end-of-year tax documents for free depending on which bank and investing apps you use.

You will not be able to speak with a tax professional or get audit assistance on the free plan.

Go to H&R Block

H&R Block Deluxe

• Federal tax return: $35
• State tax return: $37

If you itemize or have a Health Savings Account (HSA) will use the H&R Deluxe filing option.

Qualifying Tax Situations

The Deluxe version covers everything in the Free version and these additional common qualifying tax situations:

• Itemized federal tax returns
• Home mortgage interest
• Real estate taxes
• Basic freelancer and self-employment income
• Child and dependent care expenses

Those who earn independent contractor income reported on IRS Tax Form 1099 can use the Deluxe filing option. However, they will not be able to take deductions for expenses. For example, a virtual assistant who works from home may have income from this job but no expenses.

Those who have business expenses will need to upgrade to the Premium option. Say, the virtual assistant from above purchased a computer to use for work, or they want to take a home office deduction, they would have to upgrade to the Premium version.

Go to H&R Block

H&R Block Premium

• Federal tax return: $65
• State tax return: $37

H&R Block Premium includes everything in Deluxe, but also includes investment income, rental property income, and small business expenses.

Qualifying Tax Situations

• Report stock, bonds, and other investment income (Schedule D)
• Crypto sales
• Rental property income (Schedule E)

Advanced Calculators

H&R Block lets you use a calculator during the tax interview. These calculators help you tabulate your taxable income and deductions from selling assets or earning side hustle income.

These calculators help you factor in tax situations like a home sale, gift and inheritance assets.

Import Investments to H&R Block

If you’ve sold investments in the past, reporting your transaction details can be quite time-consuming.

Many investing apps integrate with H&R Block as it’s one of the most popular tax software, which means you don’t have to type in your transactions manually – saving time and decreases your risk of errors.

You can look for import tools from H&R Block or directly from your broker or bank.

H&R Block Self-Employed

• Federal tax return: $85
• State tax return: $37

Small business owners will need to choose the Self-Employed package.

H&R Block walks you through the self-employment tax interview to find industry-specific deductions.

Other standard features include:

• Deduct small business expenses
• Track expenses, mileage, and receipts all year
• Calculate depreciation

Go to H&R Block

File with a Tax Pro Option

• Starts at $89

If you want help from a human tax professional you’ll need to select the option to file with a tax pro. You can meet with your tax pro virtually or in person.

Exactly how much you’ll pay will depend on the complexity of your tax situation. Spending the extra money can be worth the time savings and additional peace of mind.

With this option, you gather your tax documents and an H&R Block tax pro prepares your return. You can review the return before they file.

Tax Pro Review

You can upgrade any plan, including the free plan, to include having your return reviewed by a tax expert before filing. The price for this ranges between $55 and $95, depending on which plan you are upgrading.

After you have completed your return, you can submit it to an expert who will look for errors or missed opportunities. Once complete, the expert will sign and submit your return.

Tax Assistance

With all paid plans, you will have unlimited tax assistance. It uses both AI and human tax pros to answer tax questions. This can help you with things like information about tax forms, tax changes, guidance with the software, and questions related to tax prep.

Audit Assistance

You can purchase Peace of Mind audit assistance to receive audit defense for the life of your tax return. This means that if you get a letter from the IRS, an enrolled agent can represent you. They will do more than just answer questions, they can send letters or even represent you in court if needed.

Go to H&R Block

Other Key Features of H&R Block

Here are some of the key features of using H&R Block:

Live Tech Support

Live chat and phone support is standard with the three paid filing options. This service provides technical help to navigate the H&R Block platform but not tax advice.

Tax Refund and Payment Options

Paying H&R Block by credit card or debit card is the best option to avoid extra fees. If you can’t swing the cost of filing right now, paying with your tax refund is possible, but that costs an additional $39.

H&R Block offers these options to receive your refund:

• Direct deposit
• Paper check
• Spruce card

If you need a place to receive a direct deposit but can pay for your return at the time of service consider the Spruce Card refund option. You will receive a pre-paid debit card where your return will be deposited when it is issued from the IRS. You can even get it up to six days early.

There are no additional fees for the Spruce card.

W-2 Snapshot

You can use the H&R Block Tax Prep and File mobile app to take pictures of your W-2 to upload the tax form boxes automatically.

This feature has been around for several years and used to only be available for the paid versions. It’s now available for all H&R Block users, including Free Online.

Auto-Import

H&R Block can auto-import last year’s tax return from any tax software or local tax preparer. You simply need to upload a PDF of the return and H&R Block fills out the basic information for this year’s tax season.

It’s also possible to import brokerage and bank tax forms directly to H&R Block. Many brokers and banks integrate with H&R Block. However, TurboTax appears to have more auto-import capabilities.

Deduction Calculator

When filing an itemized return and you deduct charity donations, the H&R Block Deduction Calculator can be useful. You can use this calculator to determine the value of your physical donations and cash donations.

MyBlock Mobile App

There are two H&R Block mobile apps. The first app, H&R Block Tax Prep and File, is for preparing and filing the tax return. You also use this app for the W-2 Snapshot.

Depending on which ongoing H&R Block features you use, you can download the MyBlock mobile app.

The MyBlock app offers these features:

• Upload business receipts during the year
• Track charity donations
• Access prior-year tax returns
• Manage H&R Block Emerald Card balance
• View personal credit score
• Manage Tax Identity Shield membership

This app can make preparing for next year’s tax season easier as you store your tax details in real-time using the virtual tax organizer.

Spruce Card

The H&R Block Spruce Card is a reloadable prepaid debit card that can be a good option if you don’t have a bank account to receive a tax refund. There are no fees, and you can get one at a local H&R Block office or request one when filing online.

In addition to receiving a tax refund, the Spruce Card can also receive payroll, stimulus check and unemployment benefits. Cardholders can load checks and cash but fees may apply.

Refund Advance Loan

If you file with a tax pro, you can receive a tax refund advance of up to $3,500. H&R Block issues the refund as a 0% APR loan with no fees, allowing you to get your tax refund up to 21 days sooner. The proceeds can be sent to an Emerald Card or a Spruce account, you can’t get the funds sent to a bank account but you can transfer the funds by check or ACH (once) from an Emerald Card or Spruce account for no fee.

Refund Transfer

If you can’t pay your tax prep fees upfront, you can pay an extra $39 for a Refund Transfer fee. H&R Block withholds the $39 payment plus the additional prep fees from the refund balance. The remaining balance is deposited into a temporary bank account.

Online Document Access

The three paid filing options also include six years of online access to prior-year returns.

The Free Online addition provides limited future online access after the next tax season starts.

Expat Tax Tools

H&R Block can help expatriates file their United States tax returns. It’s possible to file by yourself or hire an advisor. Filing fees start at $99.

Is H&R Block Easy to Use?

Is H&R Block easy to use? The answer is “yes” for most who use computers or mobile apps regularly.

The web platform or mobile app can be easier to navigate than most discount tax software as H&R Block due to the extensive interview process and auto-import tools.

However, TurboTax continues to be a little easier to use yet both programs produce the same results and H&R Block can be cheaper in more instances.

The paid options have live chat and phone support to resolve technical difficulties.

Go to H&R Block

H&R Block Guarantees

100% Accuracy Guarantee – H&R Block reimburses up to $10,000 in penalties and interest if their software makes a calculation error.

Maximum Refund Guarantee – If you find a calculation error, H&R Block lets you file an amended return for free and will reimburse you for the fees you paid to process your original return. You will need to discover this error and show it to H&R Block.

No Surprise Guarantee – You can get 20% off next year’s tax prep fees if H&R Block fails to provide any of these four benefits:

• Upfront transparent pricing
• Transparent process
• Free audit assistance
• Free mid-year care check-in

Customer Support

H&R Block has an extensive knowledge base of tax questions and technical support questions. If you run into tax problems, start by referencing this database to see if it has what you need.

For additional help, phone and live chat support are available. Their phone support can be reached at 1-800-472-5625 from 7 AM – 10 PM Central Time, Monday to Sunday. Online chat support is available from 7 AM to Midnight, Monday to Sunday.

Is H&R Block Expensive?

Like most online tax prep software, H&R Block offers a free tax filing option for simple tax returns. Not all companies offer a free state return, however. So, if you qualify for the free version, that will obviously be the least expensive way to go.

For the paid plans, H&R Block has competitive pricing for federal and state tax returns. It’s not the cheapest, but it’s also not the most expensive. It’s a few dollars cheaper than its main competitor, TurboTax. Here’s a comparison of H&R Block vs TurboTax, head-to-head

If you want to spend the least amount of money possible, a platform like FreeTaxUSA is better from a price perspective. It has bargain pricing for federal and state tax returns.

Is H&R Block a Good Place to Do Taxes?

If you want in-person tax assistance, H&R Block is a strong option. You most likely have an H&R Block office near you. You can start your return online, and if it gets too complicated, you can switch over and speak to a local tax pro. That’s not something you can do with other software.

H&R Block Alternatives

TurboTax

TurboTax has the same three levels of service as H&R Block; you can do your taxes yourself, you can add on tax assistance with a tax expert, or you can have your taxes done by completely by a tax pro.

TurboTax doesn’t use AI for their tax assistance, so you can be assured you’re talking to a human. However, you also can’t meet your tax expert in person like you can with H&R Block. So, which service is better depends on what features you plan on using.

TurboTax’s free plan includes one state. The DIY plan goes up to $89 for federal and $39 for state returns. Assisted returns are between $49 and $169, and Full Service starts at $89.

Here’s our full Turbo Tax review to learn more.

Go to TurboTax

TaxSlayer

TaxSlayer offers do-it-yourself services and you can add on tax assistance if desired. The free plan includes one state return and can process simple tax returns. The Classic plan covers all tax situations and is only $22.95 for federal and $39.95 for state.

If you want to speak to a tax expert, you’ll need to upgrade to the Premium plan for $42.95 for federal returns and $39.95 for state. $20 to speak to an expert is quite reasonable.

There is no option to have a professional prepare your taxes on your behalf.

Here’s our full TaxSlayer review for more information.

Go to TaxSlayer

FreeTaxUSA

FreeTaxUSA has one plan that covers all tax situations, and it’s free to file your federal return and $14.99 for each state return. You can add on access to a tax pro for $39.99.

You can also upgrade to the Deluxe version for $7.99 which gives you access to support via chat and unlimited amended returns.

Here’s our full FreeTaxUSA review for more information.

Go to FreeTaxUSA

Summary

H&R Block is a reliable tax software and is great for those who may want to speak to a tax professional in person. An above-average amount of simple tax returns can file for free and the free version includes one state return. So it’s possible to file for completely free if you qualify.

Having add-on tax expert access for personalized advice is another positive for those who prefer hands-on help.

The post H&R Block Review 2025: From Online to In-Person Filing appeared first on Best Wallet Hacks.

It’s easy to find free financial information on the internet. Whether it’s reading blogs, scrolling social media, or listening to podcasts, free financial information is abundant.

Free financial advice, however, is much harder to find.

Financial advice is financial information tailored to your situation. While it’s useful to understand tax brackets and tax credits, it’s only actionable if you take into account your tax situation.

Fortunately, there are still places you can get free financial advice. None of these will replace what a financial advisor can do for you, but they can help answer some of your questions.

💡 If you want to speak with a FINRA/SEC Registered advisor for an initial consultation with no obligation to hire them, take a look at Wiser Advisor. They can match you with someone who meets your specific needs.

1. Your Bank or Credit Union

Your local bank or credit union (I’d try credit union first) can work with you to discuss the options available to you.

You’ve likely experience some of this before if you carry a large balance. The teller may suggest putting it in a certificate of deposit. If you’re working with a banker, they suggest opening a brokerage account.

If you have questions related to banking, this can be a good resource. If you have other questions, like when to take Social Security, they are unlikely to be as helpful as it’s not their expertise.

Also, they have an interest in getting you to use more of their products. So they’re more likely to steer you in certain directions.

2. Your Local Library

Your local library may offer classes or host events in which you can get financial advice. This won’t be available all the time, so I’d ask a library or check your library’s website for a schedule of events.

You’re more likely to see these events in April, which is Financial Literacy Month. My local library in Howard County has a whole series of workshops and events (here is the 2024 calendar).

For younger kids, the American Library Association has a Thinking Money for Kids series co-created by the FINRA Investor Education Foundation. This is more financial information but good for help your kids better understand their money.

3. HUD-Counselors

The Department of Housing and Urban Development (HUD) will offer free housing advice for free (or for a low cost), so if you need that type of advice then it’s a good option. It’s not just for home buying advice, it’s also rental housing, foreclosure assistance, credit and more.

If it’s housing related, you could find help with a counselor approved by HUD. To find them, you can search this database of HUD-approved counseling agencies. (though I wish the search tool would list the website of the agency)

4. Financial Planning Association

The Financial Planning Association (FPA) offers pro bono financial planning services for “low-income individuals and families, military personnel/veterans, domestic violence survivors; people affected by natural disasters, serious medical crises, bankruptcy, etc.” The FPA is the trade association for Certified Financial Planner professionals.

There are 77 chapters across the country (there is not one in every state, unfortunately) and you can find them using this tool. If you think you qualify, reach out to the chapter near you for help.

5. Foundation for Financial Planning

The Foundation for Financial Planning is another trade group for financial planning that puts people in need with volunteer financial planners. You can learn more from their website.

6. IRS Tax Preparation Programs

If you just need tax assistance, the IRS offers two free tax preparation programs:

• The Volunteer Income Tax Assistance (VITA) program is for folks who generally make $67,000 or less and/or is a person with disabilities and/or limited English-speaking taxpayers.
• The Tax Counseling for the Elderly (TCE) program is for those age 60 and older.

If you need tax assistance and don’t qualify for either of those programs, search to see if your state has a similar program. Maryland has a few and your state may do too.

7. AARP Foundation Tax-Aide

For those 50 and older, who perhaps don’t qualify for the IRS TCE program (which is 60 and older), you could get tax assistance from the AARP Foundation.

The AARP Foundation Tax-Aide program provides free tax assistance to anyone 50 and older – you do not need to be an AARP member. There are no income restrictions. The volunteers are IRS-certified and worked with 1.7 million people last year.

Use their Tax-Aide locator to find one near you.

If you are looking for free or pro bono financial advice, one of these resources could be helpful!

The post 7 ways to get free financial advice appeared first on Best Wallet Hacks.

Launched in 2011, Wealthfront is a robo-advisor with $75+ billion in assets under management as of January 2025. A robo-advisor is an investment advisory service that uses an algorithm instead of people to help you invest.

Wealthfront is a tax-efficient and low-cost way to invest. Its offering is compelling. For just 0.25%, they do all the heavy lifting using a computer algorithm.

I think robo-advisors are great because they offer professional advisory services, at least a vanilla version (or cosmopolitan, to keep the ice cream analogy as accurate as possible), to the masses by relying on algorithms rather than an advisor-heavy approach. 

Many investment advisers won’t meet someone without at least six figures to invest since they get paid as a percentage of assets under management. Robo-advisors can do this because robots don’t need anything but hugs.

Their investment team is impressive, featuring names like their Chief Investment Officer, Dr. Burton Malkiel (A Random Walk Down Wall Street), and Charles Ellis (Winning the Loser’s Game), founder of Greenwich Associates.

At a Glance

• $500 minimum starting balance
• 0.25% annual fee
• Customizable premade portfolios
• Tax loss harvesting
• AI-powered financial advice

Who Should Use Wealthfront

Wealthfront is good for those who want a robo-advisor with tax loss harvesting and don’t care about receiving personalized financial advice. It has three premade portfolios that can be customized with a variety of other investments.

If you want to be able to speak to a human advisor, Wealthfront may not be for you.

Wealthfront Alternatives

Pricing	$4 a month or 0.25%	0.25%	$3 a month or free
Minimum balance	$10	$50	$100
Access to personalized advice	Yes, with a balance of at least $100,000	Yes	No
	Learn more	Learn more	Learn more

What Wealthfront Offers

Simplicity and optimization.

All robo-advisors promise investment returns without as much maintenance. With an account minimum of just $500, Wealthfront offers an investment advisory service to the masses. 

It took me many years to amass $5,000 in investable assets, and it sat in an index fund at Vanguard while it grew. I didn’t pay much in fees, but I also didn’t get tax loss harvest either (heck, I didn’t even learn about it until many years later!).

I saw my job as an investor as being two primary tasks:

1. Determine and establish an asset allocation and,
2. Rebalance their portfolio periodically.

Wealthfront does the first task by having you answer a questionnaire about your risk tolerance to establish your asset allocation. Then, its robots do their magic to accumulate the right assets to get the allocation that best fits your risk tolerance.

As an ongoing service, they handle rebalancing, tax loss harvesting, dividend reinvestment, and all the other smaller tasks that can add to your returns but that we often forget to do. That’s where the optimization comes in.

Go to Wealthfront

About the “Robots”

Computers are only as good as the people who design and program them, so while I say “robots” a lot in this post (it is a “robo-advisor”), the folks who built the robots and give them the insight to do their automated magic – they’re not robots.

They’re PhDs led by Dr. Burton Malkiel. They hire only PhDs to work on the investment team.

How Wealthfront Invests

Wealthfront has three premade portfolios to choose from, but each can be easily customized. In total, it offers 239 investments, 17 asset classes, and two cryptocurrency trusts.

The three premade portfolios are:

Classic: This is a portfolio of index funds that is globally diversified. Its main holdings as of January 2025 are 45% in US stock via Vanguard’s Total Stock Market Fund, 18% foreign stocks via Vanguard’s FTSE Developed Markets ETF, and 16% emerging market stocks via Vanguard’s FTSE Emerging Markets ETF.

Socially Responsible: This portfolio focuses on sustainability, diversity, and equity. Its main holdings as of January 2025 are 60% US stocks via iShares ESG Aware MSCI USA ETF, 12% foreign developed stocks via iShares ESG Aware MSCI EAFE ETF, and 11% corporate bonds via iShares ESG Aware USD Corporate Bond ETF

Direct indexing: This portfolio invests in individual stocks and is designed for portfolios over $100K. Your portfolio allocation will be determined by your risk tolerance.

In addition to the premade portfolios, there are several investment categories you can invest in. They are:

• US stock ETFs
• Bond ETFs
• Foreign/ emerging markets ETFs
• Global stock ETFs
• Socially responsible ETFs
• Tech/ innovation ETFs
• Cryptocurrency trusts
• Wealthfront exclusive offerings
• Investing strategy ETFs
• Sector ETFs Commodity ETFs

Tax Loss Harvesting

To save money on taxes, Wealthfront uses tax loss harvesting. If an asset drops in value, Wealthfront will sell it and buy a different, yet similar, stock. You can then use that loss to offset any investment gains you have.

Go to Wealthfront

Risk Tolerance & Asset Allocation Tool

Your risk tolerance plays a large part in your asset allocation. Wealthfront helps you determine your risk tolerance through a quiz on the website.

It’s pretty simple. It takes a few seconds to through the questionnaire and get your recommended investment plan: (you can do this yourself without putting any personal information, they don’t ask for or require an email to play with this tool)

Scroll down to see the breakdown:

Under each category, they list the three leading ETFs. In theory, you could go and buy these allocations directly. If you click on each of the bars, you’ll see a breakdown.

You can play around with the Risk Tolerance slider to see how the allocations change (the portfolio is 7.5, the max is 10), plus see the difference between a Taxable Investment Mix and a Retirement Investment Mix. I like that the Projected Performance is a spread versus a single line as it’s often depicted because it more accurately reflects the data.

As you can see, the investment options for the taxable account consist of the Vanguard Total Stock Market Fund and Schwab US Broad Market ETF. If you want to invest in a socially responsible fund, it suggestsiShares ESG Aware MSCI USA ETF.

Go to Wealthfront

Wealthfront Cash Account

Finally, sometimes you’ll have cash not invested in the markets, and Wealthfront has a cash account that currently pays 4.00% with FDIC insurance up to $8,000,000.

There are no monthly fees and no minimum balance requirements.

Wealthfront Free Financial Planning

Wealthfront offers a free automated financial planning experience that is available to everyone.

It is an automated financial advice engine that takes your individual data, like income, spending, and investing, to protect your financial assets and ability to meet future goals. 

It considers life events, like buying a house and having children, and adjusts your plan accordingly. And it does this regularly, rather than once a year or once a quarter, as you would with a human advisor.

You will link all of your accounts so the software can see your current standings. It will calculate your networth and give you a plan to meet your goals. You can get a snapshot of your finances, explore various scenarios, and then look at different tradeoffs. If you’ve never built a plan, they have an interactive Financial Health Guide that helps you get started.

Go to Wealthfront

Portfolio Line of Credit

If you have an individual or joint account with a balance of at least $25,000, a Portfolio Line of Credit lets you request cash up to 30% of the current value of your account, and they’ll send it over as quickly as one business day.

Your portfolio becomes a line of credit. (hence the name!)

The interest rate is variable and depends on the effective funds rate, plus 1.08% (rate schedule & definitions):

Their interest rate could beat a home equity line of credit (since it’s technically a margin lending product and not a traditional loan), and since there are no fees, it’s even cheaper. And unlike a regular loan product, there is no credit check, no minimum monthly payments, and the loan is secured by the assets in your portfolio.

How much does Wealthfront cost?

Wealthfront doesn’t charge a commission or account maintenance fees; instead, it relies on an account management fee. The account management fee is 0.25% of assets. This is on top of the fees charged by the underlying ETFs, which average 0.12%.

Wealthfront Alternatives

There’s a lot to like about Wealthfront, but it’s always a good idea to comparison shop before signing on to any investment account. It is your hard-earned money, after all. Here are a few Wealthfront alternatives to consider.

Betterment

Betterment is another robo-advisor that offers tax loss harvesting. You can get started for $10, and it charges either $4 a month or 0.25%. You will be charged the 0.25% if you set up recurring monthly deposits of at least $250 or you have a balance of at least $20,000.

It also has a cash reserve account that earns 4.00% APY and has a $0 minimum balance requirement. FDIC insurance goes up to $2 million.

If you have a balance of at least $100,000, you can get personalized one-on-one advice from a CFP®. There is an annual management fee of 0.65% for this service.

Here’s our full Betterment review for more information.

Go to Betterment

SoFi® Investing

Loan giant SoFi also offers robo-advisor services. You can start with $50 and it charges 0.25%, the same as Wealthfront. It doesn’t have a cash reserve account exactly, but it does offer bank accounts, including a high-yield savings account that earns up to 3.80% APY (unlocked with direct deposit or by depositing $5,000+ every 30 days, otherwise 1.00% APY).

One big benefit of SoFi Investing is that it offers human financial advisors to all clients at no additional costs. But it does not provide tax loss harvesting.

Here’s our full review of SoFi Investing for more information.

Go to Sofi Invest

M1 Finance

With M1 Finance, your portfolio is called a “pie,” and within this pie, you can add as many “slices” as you wish. These slices can be individual stocks, ETFs, or expert pies. It does not provide tax loss harvesting.

You can get started for $100 and the first 90 days are free. After that, the fee is $3 a month, unless you have a balance of at least $10,000 or an active personal loan.

It has a high-yield savings account to serve as your cash reserve account that earns 4.00% APY.

Here’s our full review of M1 Finance for more information.

Go to M1 Finance

Wealthfront Review: Final Thoughts

Wealthfront has top-notch software and automation, a stunning Ph.D. investment team led by one of the greats, and is low-cost. You’ll pay 0.25% no matter what your balance is, which is a deal when your balance is small but could get pricey as your balance grows.

They also offer tax loss harvesting, which not every robo-advisor does. So, if that’s something you are looking for, Wealthfront is worth considering.

Regarding advice, they only offer automated advice, and there is no option to speak to a human advisor.

If you’re using Wealthfront, I’d love to hear about your experience!

The post Wealthfront Review 2025: Low-cost Roboadvisor with Loss Harvesting, Rebalancing appeared first on Best Wallet Hacks.

FreeTaxUSA is a tax preparation software program that is exactly what the name implies – free.

It’s free to file your federal income tax return and $14.99 per state return.

With FreeTaxUSA, you can prepare your tax returns for free, even if they are more complicated. Most tax prep software programs only allow you to file for free under certain very limited conditions. That’s not the case with FreeTaxUSA, and that’s why this software is well worth a close look.

At a Glance

• Almost all tax situations are covered.
• Federal returns are free, state returns are $14.99
• Tax assistance can be added for $39.99
• Audit defense can be added for $19.99

Who Should Use FreeTaxUSA

If you don’t qualify for a free version at a competitor, then you should consider FreeTaxUSA. The service is inexpensive and easy to use. The add-on features, such as tax assistance and audit defense, are also reasonably priced so you should be able to get all your tax needs met.

However, if you qualify for a totally free version, such as TurboTax’s free version, that doesn’t charge a fee for your state return, you can save some money by using that instead.

FreeTaxUSA Alternatives

Pricing	$0 for federal $0 for state	$0 to $89 for federal $0 to $39 for state	$0 to $42.95 for federal $0 to $39.99 for state
Tax pro access	No	Add-on	Add-on
Audit defense	Included	Add-on	Add-on
	Learn more	Learn more	Learn more

FreeTaxUSA Free Version

The Free Version allows for free federal returns and covers basically all tax situations, which is very unusual for a free plan. State returns aren’t free, but they are inexpensive, just $14.99 per state.

This is considerably cheaper than how much it costs to get taxes professionally prepared. Accountants will charge $263-$368 to prepare a Form 1040.

Once again, one of the major advantages of using FreeTaxUSA is that it supports virtually any type of income tax return. That’s a very unusual benefit of using this program.

For the free version, customer support is available by email, but not by live chat.

Returns are stored in PDF format. There’s no limit on how many returns you can store, and no charge for doing so. You can also download and either store or print your returns on your own computer.

Go to FreeTaxUSA

FreeTaxUSA Deluxe Version

The FreeTaxUSA Deluxe Version has all of the functionality of the free version, but it adds several important premium features that are well worth the price. The paid version costs $7.99 for your federal income tax return and $14.99 for each state return filed.

Those added features include:

Unlimited amendments. You can file amended federal income tax returns for free when you filed using the Deluxe version.

Priority Support. This feature enables you to get a priority on your inquiries. That means that your email or chat questions will be moved to the front of the line. That will put you ahead of users who are working only with the free version.

Live Chat. If you have questions about the software you can chat with customer service in real time. This does not include tax questions.

Go to FreeTaxUSA

Add-ons

There are a few additional services you can add on if you wish.

Pro Support. If you have tax questions that are specific to your situation, you can speak to a tax professional for $39.99. You’ll be able to share your screen with them and they can walk you through any questions you have.

Audit Defense. For just $19.99 you can get audit defense. If you are audited, FreeTaxUSA will communicate with the IRS on your behalf and provide up to $1 million in services. They will help you with both federal and state audits.

FreeTaxUSA Features and Tools

FreeTaxUSA offers many of the features and benefits that you typically find with paid tax software programs or those that charge much higher fees.

FreeTaxUSA accommodates filing more complicated returns. This includes self-employed taxpayers, rental income, K-1 income from an LLC, partnership, or S corporation, or a home office deduction. You can do any and all of these with FreeTaxUSA, even with the free version.

FreeTaxUSA Refund Maximizer. This tool double-checks your work on a return filed with another tax prep software program. You enter the information from that return, and the maximizer will analyze it to determine if you could have gotten a bigger refund with FreeTaxUSA.

Also, you can import prior year’s tax returns from other software.

Upload W-2 from a PDF. If you have a PDF of your W-2 you can upload it. This saves time and limits typos.

Pay fees with your tax refund. If you want, you can pay the fee with your tax return instead of with a credit card. However, this costs an extra $24.99 on top of the normal fee. There’s no added cost if you pay with a credit card. If you have a card, I would recommend using it instead.

Printed return: You will get a PDF copy of your return that you can print for free. However, if you’d rather have FreeTaxUSA print it, they will mail you a paper copy of your return for $7.97, shipping included. You can also get a copy that is professionally bound for $15.97.

Accuracy Checker. FreeTaxUSA uses a real-time accuracy Checker to check your work throughout the preparation process. If the program determines that you may have made a mistake or an omission, you’ll be alerted. This will help to keep you on track throughout the process.

Accuracy guarantee. FreeTaxUSA guarantees the accuracy of your return as filed. You will be reimbursed for IRS-imposed penalties and interest for any errors, omissions or other misinformation resulting from the program software. (Penalties and interest on state income tax returns is not covered under this guarantee.)

Customer support. Email technical support, included with all services, is 8:00 AM – 11:00 PM Eastern Standard Time every day (including weekends). They report answering most emails in under 20 minutes. Particularly complex questions might take up to 24 hours.

Prior years. If you need to file taxes for prior years, you can file your federal returns for free and $17.99 for each state.

Unlimited amendments. You purchase a package that allows for unlimited amendments for just $15.98. If you filed using the Deluxe plan, amendments are free.

Go to FreeTaxUSA

FreeTaxUSA Alternatives

Cash App Taxes

Cash App Taxes is a totally free way to do your taxes. It completes both federal and state returns for free and covers almost all tax situations. Audit defense is included, but there is no option to speak to a tax professional, even for a fee.

You also can’t file multiple state returns, so if you earned income in more than one state, you won’t be able to use Cash App Taxes.

Here’s our full review of Cash App Taxes.

Go to Cash App Taxes

TurboTax

If you qualify for TurboTax‘s free plan, you can file both your federal and one state return for free. However, only simple returns qualify. You are limited to W-2 income, unemployment income, and a limited amount of interest income. You also must claim the standard deduction, but can also claim the earned income tax credit and child tax credits.

If you don’t qualify for the free plan, then you’ll pay up to $89 for the federal return and $39 per state. You also have the option to add on live assistance from a tax professional. You can also choose to get your entire return done for you with their Full Service plan.

Here’s our full review of TurboTax.

Go to TurboTax

TaxSlayer

TaxSlayer is another software that offers a completely free version. You can file both your federal and one state return for free if you qualify.

To qualify, you’ll need to have under $100,000 in taxable income. You also can only have W-2, unemployment income, and limited interest income. You must take the standard deduction and cannot claim any dependents. You can deduct student loan interest and education expenses.

If you don’t qualify for the free version, you will likely qualify for the Classic version, which costs $22.95 for federal and $39.95 for each state return.

Here’s our full review of TaxSlayer.

Go to TaxSlayer

Will FreeTaxUSA Work for You?

Despite a few program limitations, FreeTaxUSA is well worth using. It has far greater functionality than many other free tax preparation software programs, and even the Deluxe version costs just a fraction of what it does with other popular paid programs.

Due to the lack of importing capability, you must expect to spend more preparation time with this program then you will with TurboTax, but you will also be saving a considerable amount of money on the program fee.

The ability of FreeTaxUSA to accommodate even the most complicated tax returns is virtually a built-in advantage. Most competing free tax software programs can only do the most basic returns. If you have anything more complicated, you’ll have to move up to a premium version.

Even the popular paid programs use a graduated service level. For example, you may pay $50 for a program that does basic returns, but then be required to pay $100 if you operate a small business. There are no such up-charges with FreeTaxUSA.

If you want more information, or if you want to sign up for the program, check out the FreeTaxUSA website.

Go to FreeTaxUSA

The post FreeTaxUSA Review 2025: Completely Free Federal Tax Filing Services appeared first on Best Wallet Hacks.

When it comes time to pay your tax bill, we’ve all been tempted with the idea of paying with a credit card.

With a large bill, there’s the potential to earn rewards, right?

This is the tradeoff:

• You can earn rewards paying with a credit card, but,
• You will pay a percentage fee when paying taxes with a credit.

Your decision is this – are the rewards greater than the fees?

Let’s dig in.

How Much Does It Cost to Pay Taxes With A Credit Card?

To pay the least in fees, you need to make a direct payment using Pay1040 or ACI Payments. If you make a direct payment, you will pay:

This fee is far lower than if you pay your taxes through a tax preparation service or software, as you’ll next.

The IRS lists the convenience fees for each of the IRS e-file and e-pay service providers:

The minimum fee is 2.49% with PAY1040 and HRBlock and the highest fees are clocking in 2.95% with TaxBandits, Taxhawk, and TurboTax. The minimum fees are listed too but if you’re considering paying with a credit card for rewards, the minimum is unlikely to impact your decision.

As you can see, using an e-file or e-pay provider increases the cost.

Should I Pay With a Credit Card?

Next, you have to identify a credit card that will give you more rewards than what you pay in fees.

If we assume you are paying the minimum, which is 1.75% when you use PAY1040 directly, there are only a handful of cards that work.

Fidelity Rewards Visa Signature Credit Card

The Fidelity Rewards Visa Signature Credit Card is an unlimited 2% cash back card when you get the cash back deposited into a Fidelity account. It has no annual fee or caps and limits on the cashback, so this is a card that could work.

The challenge here is that the fee is 1.75% and the cashback is 2.00% – that leaves you just 0.25% in rewards for your effort. That’s 25 cents for every $100 of taxes paid – is that worth your time?

U.S. Bank Smartly Visa Signature Card

The U.S. Bank Smartly Visa Signature Card is another option as it lets you earn up to 4% cash back on every purchase. The base earning is 2% but if you have a large qualifying balance, the cash back rewards increases up to 4%.

• With a $5,000 – $49,999 balance, the card earns 2.50% cashback.
• With a $50,000 – $99,999 balance, the card earns 3.00% cashback.
• With a $100,000+, the card earns 4.00% cashback.

A good way to achieve this, assuming you have $100,000 to move around, is to open an investment account and put it into a low cost index fund. This gets you 4% cash back on the card without a significant change to your situation.

This could be significant enough to be worth your time setting up, especially since you could use the card for other purchases and get 4% cashback – which is significantly higher than many other cards.

High Welcome Reward Credit Cards

If you had your eyes on a credit card with a significant welcome bonus and high initial spend requirement, paying your taxes (even with the fee) could put you over the top. With many of these cards offering at least 1% cash back, it helps soften the fees.

Here are a few cards worth considering:

• Chase Sapphire Preferred Card
• Capital One Venture X Rewards Credit Card
• American Express Gold Card
• Blue Cash Preferred® Card from American Express

Reality: It’s Rarely Worth It

It’s rarely worth it to pay your taxes with a credit card.

First, it depends on how much you expect your bill to be. If it’s a few hundred dollars, the return is not going to be worth your time. Even at $1,000 – 1% is only ten dollars.

Next, even if it’s sizable, there are very few cards that exceed the near-2% fee hurdle. And the ones that do, barely clear it. The U.S. Bank Smartly card is the rare exception but you have to move $100,000 to U.S. Bank – only you know if it’s worth your time.

Finally, you could use it to get the welcome bonus on a new credit card. Getting a new card can be fairly quick so if that’s the route you wish to pursue, I’d get it now so you have it ready for when you pay your taxes in April.

The post Should You Pay Taxes With a Credit Card? appeared first on Best Wallet Hacks.

Filing taxes is an annual practice that most of us try to do as quickly as possible and at the lowest cost. TaxAct is a popular tax software that can produce the same results as the more expensive platforms. TaxAct used to be among the cheapest tax software, but the price has crept up over the last few years.

TaxAct offers a free plan plus three paid plans: Deluxe, Premier, and Self-Employed. Then, each plan has an upgraded version, allowing you to speak with a tax expert.

Deluxe supports unemployment income, mortgage interest, and itemized returns. Premier supports the sale of a home, the sale of investments, and foreign bank accounts. Self-employed supports business income. 

At a Glance

• TaxAct’s free plan includes unemployment income, dependents, and retirement income.
• Free plan does not include your state return.
• Access to a tax pro can be added to any plan for $60.
• Audit assistance is limited to an FAQ database.
• Kind of expensive for what you get.

Who Should Use TaxAct?

TaxAct is a good alternative to the more expensive TurboTax, as long as you don’t qualify for the free version of TurboTax. If you’ve used TaxAct in the past and are comfortable with the software, you can go ahead and use it again this year —the price is middle of the road.

However, there are less expensive options if you are looking for new software, such as TaxSlayer.

TaxAct Alternatives

Free version cost with state	$0	$0	$0
Prices start at	$22.95 for federal $39.95 for state	$49 for federal $39 per state	$35 for federal $37 per state
Tax assistance available	Yes	Yes	Yes
	Learn more	Learn more	Learn more

Is TaxAct Really Free?

TaxAct offers free federal filing for non-itemized simple tax returns that can include these income streams:

• W-2 income
• Unemployment income
• Retirement income
• Child tax credits
• Earned income credits

Unfortunately, it costs to use TaxAct if you earn self-employed income or sell investments. Filing an itemized tax return. State returns also cost $39.99.

There isn’t a maximum income limit to qualify for the free version of TaxAct. Instead, how much you pay depends on which taxable events you report.

Free

• Federal cost: $0
• State cost: $39.99 per state

Qualifying simple tax returns can file federal returns for free and state returns are $39.99. The tax situations that can file for free with TaxAct are similar to most online tax prep software.

You can prepare a non-itemized 1040 Individual Income Tax Return. It’s possible to claim these income streams, tax credits, and tax deductions in the Free edition:

• W-2 income
• Retirement income
• Unemployment income
• Child tax credit
• Earned income tax credit
• Dependents
• Tuition and fees
• Student loan interest

Those currently making student loan payments will need to pay to use TaxAct to claim the student loan interest deduction. However, current students can deduct tuition and fees for the current year.

You can import returns from prior years, and you get tech support. However, you do not get any assistance with your actual taxes. If you have tax questions, you’ll have to add on their Xpert plan for $60.

These standard features can make filing a free tax return easier:

• Import prior-year tax returns
• Online tax glossary for self-help
• Chat, email, and phone technical support
• FAFSA assistance
• One year of online return access and six years of PDF access
• Real-time filing status updates by text or email

Deluxe

• Federal cost: $29.99
• State cost: $39.99 per state

If you want to itemize or claim dependent care credits then you’ll need to upgrade to TaxAct Deluxe. Parents and homeowners are most likely to need this version.

The TaxAct Deluxe edition covers everything in the Free version, plus:

• Itemized deductions
• Adoption credits
• Child and dependent care
• Mortgage interest
• Real estate taxes
• Health Savings Account (HSA) contributions

If you have charity contributions, you may appreciate the Donation Assistant that tracks the value of cash and physical donations.

You can look for answers to your tax questions in the free TaxAct online library, but if you want to speak to tax professional you’ll need to get the Xpert Assist which will cost an additional $60.

Premier

• Federal cost: $49.99
• State cost: $39.99 per state

Premier takes has all the deductions allowed in Deluxe, and adds in several other types of income. If you sold a home, any investments, or received a 1099-k then you’ll need to upgrade to the Premier plan. These tax events report on a Schedule D (Capital Gains or Losses) and Schedule E (Supplemental Income and Loss).

Premier includes everything from Deluxe and:

• Stock, gains and losses
• Sale of home
• Rental property income
• Royalty and Schedule K-1 income
• Foreign bank and financial accounts

The TaxAct tax software will guide you through the process of reporting your investment and real estate gains and losses. It’s possible to import the end-of-year brokerage documents from select online brokers. If a direct import isn’t possible, you can upload a CSV file.

You get tech support included, but if you have questions about your taxes you’ll need to add on Xpert Assist for an additional $60.

Self-Employed

• Federal cost: $69.99
• State cost: $39.99 per state

If you earn business, freelance, or farm income, you’ll need to opt for the Self-Employed version. This version allows you to file a Schedule C and Schedule F

Self-Employed incudes everything from Premier, plus:

• Freelance income
• Business income
• Farm income
• Personalized business deductions
• Depreciation
• Year-round resources

The Self-Employed version also helps you calculate your business depreciation and next year’s estimated taxes.

As with the other plans, Self-Employed comes with tech support but if you have tax questions you’ll have to add on the Xpert Assist feature which costs an additional $59.99

Live Tax Advice

You can add unlimited access to a tax expert to any plan (including the free plan) for $60.

If you need help you submit a request and a tax pro will call you. You can ask questions and share your screen so they can give you the exact guidance you’re looking for. They are available Monday through Friday, between 8 am and 5pm central time, between January 2nd and January 18th.

Between January 19th and April 6th, tax experts are available Monday through Friday 8 am to 9 pm and 9 am to 6 pm on weekends.

Receiving a Refund

If you qualify for a tax refund, TaxAct won’t charge any extra fees for these payout methods:

• Direct deposit
• Paper check
• American Express Serve prepaid debit card

There is a $49.95 fee if you choose to pay the TaxAct fees from your refund amount. Immediately paying TaxAct when you e-file with a credit card or debit card lets you avoid this extra fee.

TaxAct Features

While TaxAct doesn’t boast as many features as other platforms, there are several that can make preparing your taxes easy.

Step-by-Step Interview

After selecting your TaxAct package, you complete your taxes with a step-by-step interview. You will answer different questions about these tax factors:

• Personal information
• Last year’s tax return
• Income
• Deductions
• Credits
• Taxes (i.e., Alternative Minimum Tax, self-employment tax)
• Miscellaneous (i.e., estimated taxes, disaster designation, combat zone)

You can skip around sections and bookmark questions to answer later.

Data Import

You can import last year’s tax return from any other software as long as it’s a PDF copy. The TaxAct mobile app can upload W-2 forms. Some online brokerages can upload documents, but you can also upload a CSV document.

TaxAct Mobile App

The TaxAct Express app is available for Android and iOS devices. This free mobile app supports uploading your W-2 and driver’s license information. In-app chat support is available too.

Real-Time Refund Calculator

Like other tax prep software, an indicator displays your estimated refund or tax liability as you work on your return.

Deduction Maximizer

Many freelancers and real estate investors choose to hire a tax expert to prepare their taxes to avoid overlooking deductions. The Deduction Maximizer tool can produce similar results by helping you find any relevant deduction.

$100K Accuracy Guarantee

As you complete your return, TaxAct looks for IRS audit flags and reporting errors. Your tax return has an accuracy guarantee of up to $100,000. If TaxAct miscalculates your results, you receive the cash difference for the actual refund or tax liability when another tax software produces the accurate result.

This guarantee applies to the consumer 1040 federal and state tax returns but not the business filings.

Audit Assistance

TaxAct offers free audit assistance, which is an online FAQs page. You can find answers explaining the different IRS forms or how to contact an IRS agent. The phone and chat support may not help you prepare for an audit.

They partner with ProtectionPlus to offer audit defense. This provides coverage for audit defense for three years after you file your taxes. The cost is not disclosed.

Seven Years of Tax Return Access

TaxAct provides one year of online access and six years of PDF access to each tax return. It’s possible to download and print a tax return during this period.

Is TaxAct Easy to Use?

Most people will find TaxAct easy to use. The step-by-step interview can make sure you don’t forget any tax details. You can also bookmark sections and return to them later. It’s possible to get the same results but at a lower cost.

Spending the extra money might be worth it for complex returns requiring plenty of manual entry. TaxAct has limited upload options that can make reporting sold investment and real estate income prone to reporting errors.

Technical support is free and available by chat, phone, or email.

For personal tax advice, an add-on package is available. TaxAct provides an online tax glossary that can answer common tax questions. Those wanting one-on-one assistance may find another platform more desirable.

Is TaxAct Secure?

Filing your taxes can be a prime opportunity for identity theft. TaxAct uses standard industry security measures to protect your sensitive information.

Some of the best security practices include:

• Two-factor authentication by email, phone, or Google Authenticator
• Social Security Number alerts (if TaxAct detects another tax return with your SSN)
• Complex password requirements
• Trusted device verification
• Device sign in history
• Customizable security rules

TaxAct encrypts each webpage as well.

TaxAct Alternatives

Using other tax software can be better depending on your personal needs.

TaxSlayer

TaxSlayer’s free plan includes one free state, but you can only use the free plan if your taxable income is under $100,000. TaxSlayer’s free plans are reasonably priced; the Classic plan covers all tax situations and is $22.95 for federal and $39.95 for state.

You’ll have to upgrade to the Premium plan if you want access to a tax pro in order to ask tax questions. But the Premium plan is only $42.95 for federal and $39.95 for state.

Here’s our full TaxSlayer review for more information.

Go to TaxSlayer

TurboTax

Many consider TurboTax to be the “gold standard” tax software, and they’ve lowered their prices again this year to be more competitive. The free plan includes one state return, so you could potentially file your taxes for completely fre.

Federal returns without any tax assistance will cost between $0 and $89, and state returns are $39 each. If you want to speak with a tax professional, it will cost between $49 and $169 for federal and $49 per state.

TurboTax also offers the option to have a tax pro do your taxes for you. This starts at $89 for the federal return and goes up from there, depending on the complexity of the return. The state return is $49 per state.

Here’s our full TurboTax review for more information.

Go to TurboTax

H&R Block

H&R Block offers online and local tax prep services and offers more features than TaxAct. Its free plan includes one free state, which TaxAct does not.

Their paid plans start at $35 for federal returns and $37 for each state. Included in the do-it-yourself package is access to both AI and human chat to ask tax questions. You can also have your taxes done for you by heading down to your local H&R Block office.

Here’s our full H&R Block review for more information.

Go to H&R Block

The post TaxAct Review 2025: Quality Service, Average Pricing appeared first on Best Wallet Hacks.

At a Glance

• The Classic plan covers all tax situations for only $22.95 for federal returns and $39.95 for state returns.
• You must be under 65, earn under $100,000, and not have any dependents to qualify for the free plan.
• Active military can file a federal return for free.
• Tax assistance is email only and doesn’t provide personalized advice.
• Audit inquiry assistance is included in all paid plans.

Who Should Use TaxSlayer

TaxSlayer is good for those who want an easy to use, premium experience for a lower cost. However, in exchange for this, you’ll give up some bells and whistles the higher-priced services offer, such as personalized tax advice.

If you expect to need to speak to a tax pro, you’ll want to choose another service. But if you are confident that you can file with just general tax assistance, then TaxSlayer could save you money while providing an easy-to-use interface.

TaxSlayer Alternatives

Pricing	$0-$69.99 for federal and $39.99 per state	$0 for federal and $14.99 for state	$0 for both federal and state
Personalized tax advice	Yes	Yes	No
Audit Defense available	Yes	Yes	Yes
	Learn more	Learn more	Learn more

Filing taxes is an annual ritual that most of us hope to finish quickly and cheaply.

TaxSlayer offers low-cost, online tax prep. Their free version isn’t as comprehensive as other platforms, for example it doesn’t support dependents. However, their paid plans are less expensive than its competitors.

This TaxSlayer review can help you decide if this is the best way to file your taxes.

🔃 This post was updated on 01/04/2025 with the new 2025 pricing.

Is TaxSlayer Really Free?

TaxSlayer lets you file these simple tax returns for free:

• Filing single or married filing jointly
• No dependents
• Taxable income under $100,000
• Standard deduction
• W-2 income
• Both spouses under age 65
• Unemployment income
• Student loan interest
• Education expenses
• Taxable interest of $1,500 or less

Basically, if you only have a W-2 or unemployment income, earn less than $100,000, don’t have any dependents,m and are under age 65, you can file for free. This includes both federal and one state.

TaxSlayer Pricing

The TaxSlayer filing fees can be cheaper than most tax software for federal and state returns.

Simply Free

• Federal cost: $0
• State cost: $0

The Simply Free plan offers one free federal and one free state tax return. You can use this plan if your taxable income is under $100,000, you claim the standard deduction, and you don’t have any dependents. You must also file either single or married filing jointly.

It covers W-2, unemployment, and interest income up to $1,500. If you have any other types of income, such as 1099, business income, rental income, or investment income, you won’t be able to use this plan.

You must take the standard deduction, but you can deduct student loan interest payments and claim education credits.

You can upload last year’s return and get unlimited phone and email technical support, and TaxSlayer will auto-fill your W-2 form to prevent reporting errors.

This free filing option supports fewer tax situations than many other tax software. For example, other platforms let you claim common tax credits for dependents, like the Earned Income Tax Credit and Child Tax Credit.

This plan doesn’t include IRS audit assistance like the paid plans. However, these returns are unlikely to cause an audit red flag because of their simplicity.

Get started with the Simply Free Edition

Military

• Federal cost: $0
• State cost: $39.95

Federal returns are free if you’re an active-duty servicemember, but each state return costs the standard $39.95.

All tax situations are included. No restrictions. You’ll also get up to one year of IRS inquiry assistance.

Get started with the Military Edition

Classic

• Federal cost: $22.95
• State cost: $39.95

The TaxSlayer Classic covers all tax situations with no restrictions. All income types, deductions, and credits are covered in the Classic plan.

You’ll also be able to auto-fill your W-2 and 1099 information and e-file. You’ll also get a year of unlimited phone and email support after you file if you have additional questions.

Get started with the Classic Edition

Premium

• Federal cost: $42.95
• State cost: $39.95

With Premium, you’ll get everything from Classic, plus:

• Ask a Tax Pro for one-on-one tax guidance
• Live chat technical support
• Priority customer support
• Up to three years of IRS audit assistance

The Ask a Tax Pro feature can be the best reason to upgrade if you need personal tax advice while preparing your return. Federal filing fees can easily exceed $100 for on-demand tax expert access from other providers. However, the assistance is via email only and is only general tax information. If you need personal advice for your unique situation, you may need to choose another software.

You also get up to three years of assistance if the IRS audits your federal tax return.

Get started with the Premium Edition

Self-Employed

• Federal cost: $52.95
• State cost: $39.95

Freelancers, side hustlers, and the full-time self-employed can benefit from the Self-Employed plan to file your Schedule C.

The service can also send quarterly reminders for estimated taxes.

Plan benefits include:

• Ask a Tax Pro access
• Unlimited phone, live chat and email technical support
• Estimated quarterly tax payment reminders
• Up to three years of IRS audit defense
• Self-employment income and deduction guidance

Receiving a 1099 form for side hustle income doesn’t necessarily mean you should choose this plan. If you have minimal work expenses, the Classic or Premium option can be sufficient for your tax situation.

If you aren’t sure if you need the Self-Employed plan or if Classic will suffice, start with Classic and upgrade to Self-Employed if you have to.

Get started with the Self Employed Edition

Refund Options

If you’re eligible to receive a federal tax refund, there are several ways to receive it. TaxSlayer e-files your return and helps track your refund status.

Direct Deposit

All online tax software offers direct deposit, and a mailed paper check if you pay your tax prep fees upfront. These are the two default delivery options from the IRS.

Direct deposit can be the fastest and easiest way to receive your tax refund. The IRS sends most refunds within 21 days using direct deposit.

Paper Check

The second way the IRS distributes tax refunds is by paper check. There isn’t an extra fee, but it can take up to eight weeks (56 days) to receive your payment.

TaxSlayer Visa Debit Card

You may also choose to receive your refund on a TaxSlayer Visa Debit Card Powered by GreenDot.

This is a reloadable prepaid debit card with no monthly service fees.

The card also includes these features you can use after getting your tax refund:

• Free ASAP Direct Deposit
• No overdraft fees
• ATM access
• Mobile app

Extra fees can apply when you reload your card at local stores or for expedited mobile check deposits.

File and Go

For an additional fee of $39.99, you can deduct your TaxSlayer fees from your tax refund with the File and Go option. The IRS deposits your refund into an escrow account run by Civista Bank (FDIC #12982).

TaxSlayer withholds your tax prep fees and the remaining balance is deposited into your linked bank account or prepaid debit card.

You might choose this payment option if you don’t have a credit card to pay the filing fees or don’t have the upfront cash.

Customer Support

TaxSlayer offers the following support options:

• Online knowledge base articles
• Phone and email technical support
• Email access to a tax professional

These essential tools can be sufficient for most tax situations and help navigate the tax interview. You won’t be able to receive personal tax guidance unless you upgrade your plan, but you can research your questions online.

Upgrading to the Premium or Self-Employed version lets you ask written questions to a tax expert. This access is cheaper than other platforms, but the competition may offer real-time video streaming and screen sharing. The answers will also be general tax information and should not be considered personal advice.

Another reason to upgrade is to get priority technical support. The TaxSlayer support team will respond to you first when you have difficulty navigating the platform.

Key Features

Here are some of the best features TaxSlayer offers to make filing your return easier.

Auto-Import

You can auto-import last year’s tax return by uploading a PDF document from any tax software. The company compares your credits and deductions for this year and last year to see if you forgot anything.

TaxSlayer can also autofill your W2 tax forms, which reduces the likelihood of overlooking a box or mistyping a number.

Unfortunately, TaxSlayer doesn’t upload investment documents.

Ask a Tax Pro

The Premium and Self-Employed plans come with unlimited “Ask a Tax Pro” access.

You can submit questions online to an IRS-certified tax expert and receive an answer via email or on the TaxSlayer platform.

Pricier services may let you share your screen with a tax expert and schedule a consultation. Other platforms may also offer the expert to review your return or complete it for you.

TaxSlayer doesn’t offer full-service assistance, but its lower cost can be sufficient if you only need to ask questions. Keep in mind that this service is email only, and may not give personalized answers. Tax pros give general tax advice. If you think you’ll need specific advice for your situation, you may want to consider a different service.

IRS Audit Assistance

The TaxSlayer Classic and Military plans offer one year of IRS inquiry assistance. Coverage starts when the IRS accepts your e-file return.

You get three years of IRS audit assistance when you upgrade to Premium or Self-Employed. If the IRS audits your return, TaxSlayer provides audit preparation assistance.

However, a TaxSlayer agent won’t provide in-person representation during the audit process.

Self-Employed Help

Similar to other online programs, choosing the Self-Employed tier provides special tools that cheaper levels do not.

For example, the TaxSlayer tax interview wizard can help you find industry-specific deductions you may overlook by choosing a cheaper plan.

You can also print off forms for estimated taxes and receive quarterly reminders you don’t miss a filing deadline.

TaxSlayer also sends tax tips during the year that can help you maximize your self-employment income.

Guarantees

Two accuracy guarantees can provide peace of mind. These guarantees are similar to other online tax prep services.

100% Accuracy Guarantee: TaxSlayer reimburses any federal or state penalties and interest due to a calculation error.

Maximum Refund Guarantee: You can get a refund of your TaxSlayer fees if another tax software calculates a higher refund or smaller tax liability using the same information.

Is TaxSlayer Easy to Use?

The TaxSlayer platform can be easy to use, but you will need to manually enter more tax documents than pricier platforms like TurboTax or H&R Block.

Another platform can be worth the higher fee if you have several brokerage statements to input or have several investment sales to report. The auto-import convenience can save you time and reduce the probability of data input errors.

TaxSlayer Mobile App

The TaxSlayer app is available for Android and Apple devices.

App features include:

• W-2 import
• Tax help articles
• Phone technical support
• Tax refund estimator

Because TaxSlayer doesn’t import tax documents from banks and discount brokers, the app may be best for simple returns that require minimal data entry. You can also start your return using the app and complete the return on a computer that can be easier to use.

Is TaxSlayer Legit?

TaxSlayer is a legitimate app to file your taxes at a low price. The service has a 4.2 out of 5 Trustpilot score, which is higher than most competitors.

One recurring positive TaxSlayer review is the transparent pricing and the step-by-step walkthroughs for simple or complex situations.

Common negative complaints include not being the easiest app to navigate or being the best service if you have investments as you must manually enter all of the investment income. This can be a time-consuming task if you sold multiple stocks or use multiple brokers.

TaxSlayer Alternatives

TaxAct

TaxAct is likely TaxSlayer’s closest competitor. Its paid plans are slightly more expensive, but the free version includes dependants and doesn’t have a maximum income limit like TaxSlayer’s does.

You can add life tax assistance to any plan for $60 and speak to a tax pro over the phone and receive personalized advice, which you can’t do with TaxSlayer.

Here’s our full review of TaxAct for more information.

Go to TaxAct

Free Tax USA

Free Tax USA offers free federal returns for all tax situations, and state returns are only $14.99 each. You can upgrade and add on tax assistance for $39.99 to receive support from tax experts who provide personalized advice. You can contact the tax pros via video call, phone, or chat.

You can also add on audit defense for $19.99.

Here’s our full Free Tax USA review for more information

Go to Free Tax USA

Cash App Taxes

Cash App Taxes has free tax prep for all situations, including free state returns. Its biggest limitation is that you can’t file in multiple states. So if you earned income outside the state you currently live in, you won’t be able to use Cash App.

It also doesn’t provide any tax assistance, so if you think you may have questions, you won’t be able to use Cash App.

Here’s our full Cash App Taxes review for more information.

Go to Cash App Taxes

Summary

TaxSlayer is one of the best discount software because of its competitive prices for complex tax situations. The Ask a Tax Pro is an affordable option too.

Another platform may make it easier to file your taxes for free if you have dependents. Investors with many tax documents may prefer spending the extra money and using TurboTax that syncs with most financial institutions to save time.

The post TaxSlayer Review 2025: Features, Prices, Pros and Cons appeared first on Best Wallet Hacks.

Betterment is a longstanding robo-advisor offering low fees and more control over your portfolio than many automated investment platforms.

Betterment offers expert-built portfolios, including socially responsible and crypto portfolios, a high-yield cash account, a no-fee checking account, and access to human advisors.

But with so many robo-advisors to choose from, is Betterment still worth it?

At a Glance

• The management fee is $4/month (for balances up to $20k) or 0.25% annually
• $0 minimum initial investment
• $100,000 minimum required for Betterment Premium
• Individual and joint taxable accounts; retirement accounts
• High-yield cash account
• No-fee checking account
• Create customizable sub-accounts (goal accounts)
• Available on iOS and Android mobile app
• Accounts are SIPC protected up to $500,000 ($250,000 cash)

Who Should Use Betterment

Betterment is perfect for beginner investors or anyone who wants hands-off investing. It has much lower fees than working with a human advisor, plus a variety of premade portfolios that are automatically rebalanced over time. It also has some tax efficiencies you can opt into if you have taxable accounts.

Betterment Alternatives

Monthly Fee	0.25%	$3 (waivable)	0.25%
Minimum balance	$50	$50	$0
Self-directed accounts available	Yes	Yes	Yes
	Learn more	Learn more	Learn more

Who Is Betterment?

Betterment is an online, automated investment platform, a.k.a. a robo-advisor.

With over $50 billion in assets under management, Betterment is one of the largest independent robo-advisors on the market today. In fact, Betterment was the first independent online financial advisor to reach $10 billion in AUM in July of 2017.

With Betterment, your entire investment experience takes place online. An algorithm calculates your portfolio based on your preferences and goals. 

Since everything runs through computers, they can offer investment management at a very low cost. This makes it cost-effective for any investor, regardless of investment size. Most financial advisors won’t even talk to you if you have less than half a million in assets, but you can invest with Betterment for as little as $1.

If you’re new to investing or you don’t have much money, Betterment may be the best solution to your investment needs. If you are a larger or more experienced investor, Betterment may be a good platform to have some of your portfolios professionally managed.

Go to Betterment

How Betterment Works

Betterment will provide automated account management for a very low annual fee. That will include creating and rebalancing your portfolio, reinvesting dividends, and implementing tax efficiencies to minimize the tax liability your account will generate.

Betterment uses Modern Portfolio Theory, which favors general asset allocation over individual security selection.

Your portfolio will consist of exchange-traded funds(ETFs), comprising U.S. and foreign stocks and bonds in your asset allocation.

ETFs are low-cost, index-based funds designed to match an underlying index’s performance, like the S&P 500 Index. This is what’s known as passive investing because neither Betterment nor the funds themselves actively trade securities within the funds.

Tax Efficient Investing

Betterment has built automated tax-efficient strategies into its portfolios to help you lower your taxes. Betterment supports tax loss harvesting, which involves offsetting capital gains and income by selling a security that has experienced a loss. Betterment’s Tax Loss Harvesting+ feature is fully automated and is available to investors at no additional cost.

Betterment also offers tax coordination, which automates a complex strategy known as asset location for your retirement goals. Asset location can improve your after-tax returns without increasing your portfolio’s risk level.

Betterment Account Types

You can open the following account types with Betterment:

• Individual and joint taxable accounts
• Traditional IRA
• Roth IRA
• SEP IRA
• Rollovers
• Employer-sponsored 401(k) plans (Betterment 401(k))
• High-Yield Cash account
• No-fee Checking account
• Trusts

Betterment Portfolios 

Betterment has ten prebuilt portfolios to choose from, plus a cash reserve fund. Here is a breakdown of some of these portfolios as of December 2024.

Core  

This portfolio is for those who want optimized exposure to stocks and bonds. It has had annualized returns of 9.5% since 2011 and has an allocation of 90% stocks and 10% bonds.

Top holdings include:

• 44.9% U.S. Large Cap Stocks: SPDR Portfolio S&P 500 ETF (SPLG) and Vanguard Large-Cap ETF (VV)
• 25.5% International Developed Market Stocks: Vanguard FTSE Developed Markets ETF (VEA) and iShares Core MSCI EAFE ETF (IEFA)
• 7.1% U.S. High Qualify Bonds: iShares Core Total U.S. Bond Market ETF (AGG)
• 6.1% U.S. Mid Cap Stocks: SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) and Schwab U.S. Mid-Cap ETF (SCHM)
• 4.6% U.S. Small Cap Stocks: – SPDR Portfolio S&P 600 Small Cap ETF (SPSM) and Vanguard Small-Cap ETF (VB)

Value Tilt

This portfolio focuses on value investing and looking for undervalued companies worldwide. It has an annualized return of 9.4% since 2011 and an allocation of 90% stocks and 10% bonds.

Top holdings include:

• 34.7% U.S. Total Stock Market: Vanguard Total Stock Market ETF (VTI) and Schwab U.S. Broad Market ETF (SCHB)
• 25.5% International Developed Market Stocks: Vanguard FTSE Developed Markets (VEA) and iShares Core MSCI EAFE ETF (IEFA)
• 16.9% U.S. Value Stocks – Large Cap: Vanguard Value ETF (VTV) and Schwab U.S. Large-Cap Value ETF (SCHV)
• 8.9% International Emerging Market Stocks: Vanguard FTSE Emerging Markets (VWO) and iShares Core MSCI Emerging Markets ETF (IEMG)
• 7.1% U.S. High Quality Bonds: iShares Core Total US Bond Market ETF (AGG)

Broad Impact

This portfolio is for investors who want to invest in a socially responsible way. It has annualized returns of 7.9% since 2017 and has an allocation of 90% stocks and 10% bonds.

Top holdings include:

• 46% U.S. Socially Responsible Stocks – Large Cap: iShares ESG Aware MSCI USA ETF (ESGU) and iShares MSCI USA ESG Select ETF (SUSA)
• 24.1% International Developed Market Stocks: iShares ESG Aware MSCI EAFE ETF (ESGD) and SPDR S&P World ex-US ETF (SPDW)
• 10% International Emerging Market Socially Responsible Stocks: iShares ESG Aware MSCI EM ETF (ESGE) and SPDR S&P Emerging Markets ETF (SPEM)
• 5.4% U.S. Engagement Stocks: TCW Transform 500 ETF (VOTE)
• 5.2% U.S. Socially Responsible High-Quality Bonds: iShares ESG Aware U.S. Aggregate Bond ETF (EAGG) and Vanguard US Total Bond Market ETF (BND)

Goldman Sachs Smart Beta

This portfolio invests based on trends and is for investors seeking greater growth potential. It has an annualized return of 9.0% since 2017 and has an allocation of 90% stocks and 10% bonds.

Top holdings include:

• 57% U.S. Large-Cap: Goldman Sachs ActiveBeta US Large Cap Equity (GSLC) and iShares Russell 1000 (IWB)
• 13% International Developed Market Stocks: Goldman Sachs ActiveBeta International Equity (GSIE) and Vanguard FTSE Developed Markets (VEA)
• 8.2% International Developed Market Stocks – Europe: Goldman Sachs ActiveBeta Europe Equity ETF (GSEU) and SPDR Portfolio Europe ETF (SPEU)
• 5.5% International Emerging Market Stocks: Goldman Sachs ActiveBeta Emerging Markets Equity (GEM) and Vanguard FTSE Emerging Markets (VWO)
• 3.3% International Developed Market Stocks – Japan: Goldman Sachs ActiveBeta Japan Equity ETF (GSJY) and JPMorgan BetaBuilders Japan ETF (BBJP)

Goldman Sachs Tax-Smart Bonds

This portfolio is for those who are looking for a high after-tax yield. This portfolio began in June of 2024, but so far has annualized returns of 4.7% and has an allocation of 100% bonds.

Top holdings include:

• 60% U.S. Short-Term Municipal Bonds: iShares Short Maturity Municipal Bond Active ETF (MEAR)
• 20% Ultra Short-Term Bonds: Goldman Sachs Access Ultra Short Bond ETF (GSST)
• 20% U.S. Short-Terms Treasury Bonds: Goldman Sachs TreasuryAccess 01 Year ETF (GBIL)

BlackRock Target Income

This portfolio is for those who want a low-risk investment to hold their cash but also potentially earn returns. It has had annualized returns of 1.8% since 2017 and has an allocation of 100% bonds.

Top holdings include:

• 24.5% U.S. Downgraded Bonds: iShares Fallen Angels USD Bond ETF (FALN)
• 13% U.S. Short-Term High-Yield Corporate Bonds: iShares 0-5 Year High Yield Corporate Bond ETF (SHYG)
• 11% Emerging Markets High Yield Bonds: iShares J.P. Morgan EM High Yield Bond ETF (EMHY)
• 11% U.S. Corporate Multi-Factor Bonds: iShares Investment Grade Systematic Bond ETF (IGEB)
• 8.5% U.S. Short-Term Treasury Bonds: iShares 1-3 Year Treasury Bond ETF (SHY)

Crypto ETF

This portfolio is for investors who want exposure to cryptocurrency. Annualized returns are not provided.

Top holdings include:

• 74.80% Bitcoin: iShares Bitcoin Trust ETF (IBIT)
• 24.9% Ethereum: iShares Ethereum Trust ETF (ETHA)

Betterment will rebalance your portfolio as needed as funds change in value.

Go to Betterment

Other Betterment Portfolios

In addition to the portfolios listed above, Betterment offers additional portfolios. Here’s a brief description of those portfolios.

Innovative Technology

Betterment invests in “pioneer companies” through its Innovative Technology portfolio. The companies in this portfolio are involved with clean energy, semiconductors, robots, virtual reality, blockchain, and nanotechnology. 

The portfolio mix is 90% stocks and 10% bonds.

Climate Impact

This portfolio invests in companies funding green projects and lower carbon emissions, as well as those that divest from fossil fuel reserves. It is another SRI portfolio. Like Broad Impact, it includes a few bond funds from the Core portfolio but holds stocks in the funds that favor low carbon emissions. It has an allocation of 90% stocks and 10% bonds.

Social Impact

Another SRI portfolio, but one that emphasizes companies supporting social equality and minority empowerment. It adds funds with these specializations alongside bond positions. It has an allocation of 90% stocks and 10% bonds.

Betterment Cash Reserve

Betterment offers a high-yield cash account currently paying a variable rate of 4.00% APY. That makes it a nice option for you to hold cash balances on the same platform where you invest your money. You can open an account with as little as $10, and there are no monthly maintenance fees. Meanwhile, the account features unlimited withdrawals.

(Annual percentage yield (variable) is as of 12/30/2024. Cash Reserve is only available to clients of Betterment LLC, which is not a bank, and cash transfers to program banks are conducted through the clients’ brokerage accounts at Betterment Securities.)

Because multiple banking partners provide the Cash Reserve, FDIC insurance applies on balances up to $2 million. That’s eight times higher than the $250,000 in coverage offered by your friendly neighborhood bank. If you open a joint account, the FDIC coverage will rise to $4 million.

Betterment Checking

This is a mobile checking account that comes with a Visa debit card. There are no monthly or overdraft fees. Meanwhile, Betterment reimburses you for ATM fees and foreign transaction fees. The account even comes with paper checks, which is fairly unusual with online banks. And when you make purchases using your debit card, you can earn cash back rewards from thousands of your favorite brands.

Betterment Pricing

Here’s how Betterment’s pricing breaks down:

Investing: $4 monthly fee or 0.25% annual fee. You’ll start out with a flat fee of $4 per month, but you’ll automatically switch to 0.25% when you either a) set up recurring deposits of $250 or more or b) reach an account balance of $20,000 or more across all accounts held with Betterment. That includes the checking, Cash Reserve, Crypto portfolios, and your Core portfolio.

Crypto Investing: 1% annual fee + trading expenses

High-Yield Cash Reserve Account: No fee

Checking Account: No fee

Betterment Premium: A 0.15% add-on fee applies to Investing and Crypto investing fees but does not apply to Cash Reserve. Betterment Premium gives you unlimited access to financial planning advice from a Betterment CFP. There is a $100k minimum balance requirement for this service.

Go to Betterment

Betterment Premium

In addition to the investing plan, Betterment offers a Premium plan. You’ll need a minimum portfolio balance of $100,000, and you’ll have access to unlimited financial guidance from a certified financial planner. That planner will help you with everything from retirement to crypto investing. It includes professional one-on-one advice to help you establish your goals and create a roadmap to reach them.

The portfolio minimum balance includes investment and crypto accounts, whether taxable or retirement. It does not include cash accounts, HSAs, or an employer 401(k) account managed by Betterment.

✨ Related: Betterment Checking and Savings Review: Cash Reserve

Getting Started with Betterment

Betterment is available to U.S. citizens 18 years old or older with a permanent U.S. address, a U.S. Social Security number or ITIN, and a checking account from a U.S. bank. Residents of Puerto Rico and the Virgin Islands (but not Guam) and U.S. military personnel residing abroad are also eligible.

You can open a Betterment account and start investing in a couple of steps:

1. Open an account directly on the Betterment website. The first step is to complete your application, including a brief questionnaire. The questionnaire assesses your risk tolerance, investment goals, and time horizon. Your answers to those questions will determine the type of portfolio Betterment will create for you. That can be anything from conservative to aggressive.
2. Choose the type of account you want. For example, you may want a taxable investment account for short-term savings goals, like saving money for the down payment on a house. Alternatively, you can select a tax-deferred account, like an IRA, for a long-term goal, like retirement.

Note: You can open an account with no money and then begin investing as you fund it. For that reason, you’ll need to connect a bank account to your Betterment account. But you can also set up direct deposits from your paycheck for funding purposes.

Go to Betterment

Betterment Alternatives

If you’re looking for a robo-advisor platform that supports your passive investing strategy, you may want to explore the following options before you sign up with Betterment.

Wealthfront

Wealthfront may be Betterment’s biggest competitor. Both companies launched around the same time, and they’ve closely paralleled one another since. Like Betterment, Wealthfront provides you with a diversified portfolio of stocks and bonds. 

However, Wealthfront offers a broader diversification, spreading your portfolio among 239 investments in 17 different asset classes. That includes sectors like cryptocurrency trusts, commodity funds, and funds that specialize in technology. They also offer a flat fee pricing of 0.25% on all account balances. And like Betterment, Wealthfront also offers a high-yield Cash account, with a slightly higher APY (5.00% vs. 4.75%) as of February 2024.

Here’s our full Wealthfront review for more information.

Go to Wealthfront

M1 Finance

If you like the robo-advisor concept but want more control over your investment, M1 Finance is an excellent alternative to Betterment. With M1 Finance, you can choose the stocks and ETFs that you hold in your M1 Finance portfolios (called “pies”) and have M1 Finance manage and rebalance them automatically.

There is a $3 monthly fee for the robo advisor. However, the fee is waived if you have an active loan and an investment balance of at least $10,000.

Here’s our full M1 Finance review for more information.

Go to M1 Finance

SoFi Automated Investing

SoFi Invest® is a robo-advisor that is similar to Betterment. It uses a goals-based system that allows you to invest for both short-term needs, like saving for the down payment on a home, or long-term goals, like retirement. 

Sofi charges a flat 0.25% for automated investing. Plus, it has a self-directed option, which Betterment doesn’t. You can invest on your own through SoFi Active Investing, with no commission fees, when you buy and sell individual stocks and funds. Like Betterment, SoFi offers a high-yield savings account. It doesn’t have a cash reserve account, but it does offer a high-yield savings account.

Here’s our full Sofi Invest review for more information.

Go to Sofi Invest

FAQs

Get Started with Betterment

Is Betterment Worth It?

If you’re looking for a robo-advisor and don’t need to be hands-on with investment decisions, Betterment is a solid choice. It’s ideal for beginner investors or anyone who follows a passive investing approach. We also like the automated tax-efficient strategies that Betterment employs, the fact that clients with larger portfolios can access financial planning advice, and the High-Yield Cash Reserve account.

That said, if you’re looking for the lowest possible price and more portfolio customization, M1 Finance might be a better choice. And if you’re a self-directed investor, you’ll want to deal with a discount brokerage that will allow you to select your own investments and place your own trades.

The post Betterment Review – Is Betterment Worth It? appeared first on Best Wallet Hacks.

However, checking accounts will have limited parental control. If you want control over where your child spends their money, check out our list of best debit cards for kids.

Bank	Best for	Learn more
	Convienence	Learn more
	Parental controls	Learn more
	ATM reimbursements	Learn more
	High interest rate	Learn more
	In-person banking	Learn more
	Use after age 18	Learn more

Capital One MONEY Teen Checking Account

Best for: Convenience

• Age requirements: 8 and up
• Parental controls: Yes
• Monthly fee: $0

The Capital One MONEY Teen Checking account is available for kids eight and older when a parent or guardian signs on as the joint account holder. 

There is no monthly fee or minimum balance requirements. Kids can use the ATM card for free at any MoneyPass or Allpoint ATMs.

Parents do not have to have an account with Capital One to open this account, and the account can be linked to any outside checking account, which is not the case with most banks. Parents can also see all transactions in the app and can set up notifications if desired. Parents won't receive a debit card, but can lock and unlock the child's debit card if needed.

When the child turns 18, the account remains open and the child can open a new standard account and transfer the funds to the new account.

Here's our full Capital One 360 review for more information.

Bank of America Advantage SafeBalance Banking® for Family Banking

Best for: Parental controls

• Age requirements: None (child must be under 18)
• Parental controls: Yes
• Monthly fee: $4.95 (waived while the child is under 25)

Bank of America’s Advantage SafeBalance® for Family Banking checking account has a $25 minimum opening deposit and no monthly fee as long as one owner is under the age of 25.

Parents must have a Bank of America checking account and money can only be deposited by a parent via transfer from another Bank of America account, the ATM, or mobile deposit. Parents can also set spending limits for specific categories.

Kids can spend from the account with their debit card and have a limited/age-appropriate experience with the app.

Member FDIC.

Go to Bank of America

Axos First Checking

Best for: ATM reimbursements

• Age requirements: 13 and up
• Parental controls: Yes
• Monthly fee: $0

Axos First Checking has no monthly fees, no overdraft fees, and no minimum balance requirements. Kids can use their debit card at any ATM and will receive up to $12 a month in ATM fee reimbursements.

Kids can spend up to $500 per day on their debit card and withdraw up to $100 daily in cash from the ATM. Parents can view their teens spending from the app and lock and unlock the debit card as needed. Parents can also set up spending notifications to keep tabs on their teen's activity.

This account is a joint checking account, so both parents and kids are co-owners.

Here's our full Axos Bank review for more information.

Go to Axos Bank

Alliant Credit Union Teen Checking

Best for: High interest rate

• Age requirements: 13 and up
• Parental controls: No
• Monthly fee: $0

Alliant Credit Union’s Teen Checking account is available for parents who open their own Alliant Credit Union checking account. There is no monthly fee and no minimum balance requirements. Both kids and parents are owners, and both will receive a debit card that can be used for free at over 80,000 ATMs, plus you'll receive up to $20 per month in ATM fee reimbursements.

This account earns 0.25% APY as long as you receive electronic statements and have at least one deposit from either direct deposit, an ATM, or another financial institution.

Once your student turns 18, the account will automatically be converted to an Alliant Checking Account, but you will remain a joint owner of the new account unless specifically removed. 

Here's our full Alliant Credit Union review for more information.

Go to Alliant Credit Union

Chase High School Checking

Best for: In-person banking

• Age requirements: 13 and up
• Parental controls: No
• Monthly fee: $5 (waived while the child is under 18)

Chase High School Checking is available to the kids of current Chase customers, and the teen account must be linked to the parent's Chase checking account. There are no monthly fees and no minimum balance requirements.

Parents are co-owners of the account and can receive notifications of account activity, but don't have any controls over spending.

When the child turns 19, the account will automatically convert to a Chase Total Checking account, with the parent as a co-owner on the new account.

Go to Chase

Wells Fargo Clear Access Banking

Best for: Use after age 18

• Age requirements: 13 and up
• Parental controls: Yes
• Monthly fee: $5 (waived while child is under 25)

Wells Fargo’s Clear Access Banking account is for adults, but teens 13-16 can open the account with an adult as a co-owner. 17-year-olds can open the account as a primary owner. Since this is an account for adults, nothing needs to happen when the child turns 18 — other than to remove the parent co-owner.

There is a $25 minimum deposit to open the account, and the $5 monthly fee is waived when the child is under 25. There are no overdraft fees and no fees at Wells Fargo ATMs.

As far as parental controls are concerned, Wells Fargo offers transaction notifications and the ability to set spending and ATM withdrawal limits. 

Go to Wells Fargo

Why Your Teen Should Have a Checking Account

You might be wondering why opening a checking account for your teen can be a good idea. There are several benefits to doing so.

Teaching Them Money Management Skills

So many people in the Gen X and Gen Z groups lament their financial mishaps and mistakes. Personal finance just wasn’t taught to kids back then, and in many places it still isn’t taught. 

Opening a teen checking account for your child can be a great “first step” in helping them learn good money management skills. They can use the account to manage the allowance they earn, or they can use it to learn how to manage money earned from their first job.

By the time they’re ready to leave the nest, they’ll be set up to have a good handle on money management skills. And that may lead them to start investing as a teenger.

Ushering in More Responsibility

Turning 18 and going off to college is a big step from life at home. Many of today’s kids do minimal work in terms of laundry, cooking, and other responsibilities. 

Teaching your child to manage their own money via a checking account is just one more way to usher in responsibility that your child will need to have experience with when they venture out on their own.

A Good Financial Foundation

Once your child learns to manage their checking account, you can move forward with teaching them other financial insights such as investing, saving for a home, and more. 

A checking account can be the first building block in your child’s personal finance repertoire. 

What to Look for in a Teen Checking Account

When shopping around for a checking account for your teen

Fees: There is no reason for your teen to pay a monthly fee on their checking account. Every account on this list either has no monthly fee or waives the fee while the child is a minor. But watch out for other fees, too. Ensure they have convenient access to free ATMs and understand what happens if the account is overdrafted. Some banks allow those transactions to go through and charge a fee, while others deny all transactions that will put the account into the negative.

Access: Accounts will come with a debit card, but not all have check-writing privileges or wide ATM access. If your child needs Zelle or Bill Pay, double-check that the account has access to those features.

Parental controls: Most checking accounts have limited parental controls outside of receiving notifications. Check out the best kid's debit cards if you want more control.

Conclusion

Opening a teen checking account can be a great idea if you’re interested in showing your teen how to manage money, set financial goals, and budget. 

And there are several great teen checking accounts to choose from to help you meet these goals. 

The post Best Checking Accounts for Teens in 2025 appeared first on Best Wallet Hacks.

Everyone wants a great interest rate on their savings. But along with a good return, it’s important to do business with a bank that’s accessible and trustworthy.

Barclays high-yield savings account earns a competitive yield and doesn’t have fees or account minimums. But as with many online banks, you may notice limitations with the offered products.

In this review of Barclays US online bank, I’ll cover the strengths and weaknesses and present you with a few online banking alternatives to consider. Are you ready? Let’s get started!

NOTE: Interest rates change often, they are accurate as of the publishing date.

At A Glance

• High interest rates on savings
• Low fees
• Savings, CDs, credit cards, and personal loans are available. No checking accounts.

Who Should Use Barclays

Barclays is worth considering if you want to earn a competitive interest rate on your short to medium-term savings.

Unfortunately, Barclays doesn’t offer checking accounts, and there are no brick-and-mortar branches. As a result, you won’t be able to use Barclays for your daily banking needs, such as paying bills, as you won’t receive a debit card or paper checks.

If you’re fine with using Barclays for savings only, then it’s one of your best options for the following reasons:

• Earn competitive yields
• No minimum balance requirements
• Zero account service fees
• 24/7 online account access
• Up to $250,000 in FDIC insurance

Barclays Alternatives

Top APY	3.80% APY	4.30% APY	3.75% APY
Monthly fee	$0	$0	$0
Minimum deposit	$0	$100	$0
	Learn more	Learn more	Learn more

Who is Barclays Bank?

Barclays is an international bank with its head office in London. In the United States, it offers online banking and credit cards. 

Operating in the US as Barclays Bank Delaware, its online banking accounts are FDIC insured (FDIC Cert# 57203).

Wealth management and corporate finance are also available, but this review only covers Barclays savings accounts and how you can earn a high interest rate on online-only savings accounts and Certificates of Deposit (CDs).

Learn more about Barclays

Who Can Join?

Barclays US banking accounts are open to United States residents at least 18 years old. Unfortunately, it’s not possible to open minor accounts. However, parents can open up to 25 savings accounts, which can be an indirect way to track a child’s savings balance and earn an industry-leading yield.

Bank Fees

There are no fees on any Barclays account, including their certificates of deposit.

For example, you will never pay the following:

• Account maintenance fee (monthly service fee)
• Inactivity fees
• Minimum balance fee 

The only fee you might encounter is for early CD redemptions:

• 90 days of simple interest for terms shorter than 24 months
• 180 days of simple interest for terms longer than 24 months 

Deposit Account Options

Barclays offers clients two options to save their extra money and earn more interest – an online savings account and certificates of deposit (CDs) with terms ranging between 1 and 5 years. Let’s take a closer look at both products.

Tiered Savings

Barclays also has a Tiered Savings account where the interest rate you earn is based on the balance in the account. The rate is up to 4.50% APY if you have a balance of at least $250,000, otherwise you’ll earn 4.25% APY, which is still good.

It is one of today’s best yields. Moreover, it’s significantly higher than what brick-and-mortar banks offer, and you don’t have to worry about monthly service fees or minimum balance requirements.

You can also get a $200 bonus if you open the account by 3/8/2025 and deposit $25,000 within 30 days of opening the account and maintain at least $25,000 in that account for 120 days.

Some of the best account features include:

• Can make unlimited withdrawals per month
• Can receive direct deposits and mobile check deposits

Barclay’s unlimited withdrawals are a nice feature, given that most high-interest savings accounts are limited to six monthly transactions.

It’s also easy to deposit new funds into your account. While your new balance begins earning interest immediately, Barclays will hold your deposits for five business days before they can be withdrawn.

Online CDs

You may also consider placing money you don’t need for at least 12 months into a Barclays certificate of deposit.

Barclays offers term CDs from 6 months to 60 months.

• 6 months: 3.80% APY
• 12 months: 4.00% APY
• 18 months: 3.25% APY
• 24 months: 3.00% APY
• 36 months: 3.00% APY
• 48 months: 3.00% APY
• 60 months: 3.25% APY

Unlike many bank CDs, there are no minimum deposit requirements, so you can easily make a CD ladder. Typically, it’s not uncommon for banks to require at least $1,000 to open a CD – so this low limit is great.

As you’re committing your money for a preset period, you receive a higher APY than the online savings account that lets you make withdrawals on demand. The CDs have an early redemption fee of at least 90 days of interest applies if you don’t wait for the CD to mature.

As of this writing, Barclays does not offer a no-penalty CD.

While you can earn a competitive interest rate, US Treasury Series I Bonds might be a better option as the yields are substantially higher while inflation rates remain elevated. 

The minimum holding period for I Bonds is 12 months, but you must hold for 60 months to avoid an early redemption penalty of 90 days’ interest. So, the holding periods are similar to CDs, but you can potentially earn a staggeringly higher yield.

Learn more about Barclays

Reader Experiences with Barclays

We had a reader, Walter, send in his positive experiences with Barclays:

You asked about the Barclays offer…

I was so intrigued that I forwarded it to my daughter (age 24 and has a healthy savings account, still in a Huntington “savings” account that might as well pay nothing at all) and urged her to read over your info.

I try not to push, but she might as well have her savings work for her and I hope she takes advantage of their offer…$200 to start a good savings plan is just a very good deal.

I have had an active Barclays on-line savings plan (tied to my checking) for years and I find it safe and efficient.  I treat it as our emergency fund and rarely have had to dip into it.  Meanwhile, it chugs along at a very nice (not the top rate, but one I am comfy with) interest rate and is now making us some real money. 

Just this week I added $600 and it took about 5 minutes.  Sign in to Barclays (I use double authentication for safety), type in the amount for transfer and when you want it done.  Boom.  I get a near instant e-mail that says the transfer took place (and this is from my local, bank based checking account—that still prints me free checks).

Barclays provide very handy on-line tax forms at the end of the year.  Print out for tax verification, etc.

I have had no issues/problems with them for many years, so here is my testimonial.

Additional Features

While you won’t get in-person branch access, Barclays has several tools to make it easier for you to bank online. Here are some of the features you can expect to see after opening a Barclays account.

Savings Assistant

You can easily create savings goals using the Savings Assistant tool. This feature lets you estimate how quickly you can achieve your goal at your current savings rate.

CD Calculator

The Barclays CD Calculator lets you quickly see how much interest you will earn if you open a CD. This tool can be vital if you’re living on a fixed income or want to know precisely how much short-term investments make. 

Check Deposits

The Deposit Checks feature lets you easily upload paper check images from a computer, tablet, or phone. You can instantly start earning interest on these deposits, and it’s another reason you don’t need local banking access.

Mobile App

The Barclays US Savings app is available on the Apple App Store and Google Play Store. This app makes it easy to bank and remote deposit checks on the go. 

Additionally, this app is different than the one you might use for Barclays-issued rewards credit cards. 

Learn more about Barclays

Barclays Alternatives

Depending on what you’re looking for, the following online banks can offer more services and potentially higher yields.

Ally Bank

Ally Bank, has a high-yield savings that earns 3.80% APY on all balances with no minimum or monthly fees. It also offers a checking account, money market, and CDs, all at competitive rates with no monthly fees.

There are no minimum deposits for these accounts, and unlike with Barclays, IRA CDs are also available. Additionally, you can invest through Ally Invest with commission-free trades and powerful research tools.

Read our full Ally Bank review for more information.

Go to Ally Bank

CIT Bank

CIT Bank offers many savings account options, including its Platinum Savings, which earns 4.30% APY if you have at least $5,000 in the account. If you don’t typically have $5,000 in savings, you can opt for the Savings Connect account, which earns 4.00% APY on all balances. Both accounts have a $100 minimum opening deposit.

For more flexibility, you may consider the money market and eChecking accounts which provide debit card access and up to $30 monthly ATM fee reimbursements.

For more information, check out our CIT Bank review.

Go to CIT Bank

Discover Bank

Discover® Bank offers a high-yield savings account that earns 3.75% APY with no balance requirements or monthly fees. First-time members may be able to earn bonus cash by visiting our Discover Bank promotion page. 

You can also open a free checking account that earns debit card rewards (up to 1% back) and access 60,000 surcharge-free ATMs. 

Read our Discover Bank review for more.

Go to Discover

Is Barclays Bank Worth It?

Barclays is a solid choice if your only priority is getting the best possible rate on a savings account or CDs. Their rates are among the highest available, and comparable to Ally Bank, a top competitor.

At the time of this writing, both companies have the same online savings interest rate. Their CD rates are close as well.

The only knock against Barclays is that there is no checking account. This means you can’t write any checks or use a debit card. It’s strictly a savings account.

FAQs

Final Thoughts

Barclays is an excellent option if you’re looking for top rates on high-yield savings accounts and CDs. But, unfortunately, you won’t be able to switch all your banking to this platform as they don’t offer checking accounts.

That said, some people like separating their savings from their other banking. You may not want to keep your long-term savings and spending account under the same umbrella if you struggle to save your disposable income.

Learn more about Barclays

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