TurboTax vs Wave Accounting
Side-by-side comparison of features, pricing, and integrations.
Quick Verdict
TurboTax offers fewer features (38 vs 47) and fewer integrations (4 vs 30). Both start at Free. TurboTax has 37 unique features while Wave Accounting has 46 unique features, with 1 features in common.
| TurboTax | Wave Accounting | |
|---|---|---|
| Category | Accounting Software | Accounting Software |
| Total Features | 38 | 47 |
| AI-Powered Features | 0 | 6 |
| Starting Price | Free | Free |
| Pricing Tiers | 9 | 3 |
| Integrations | 4 | 30 |
| Shared Features | 1 | |
| Shared Integrations | 0 | |
| Data Quality | 80% | 73% |
Feature Comparison by Category
Account Management (0 vs 1)
| Feature | TurboTax | Wave Accounting |
|---|---|---|
| Multi-Account Support |
Analysis (2 vs 0)
| Feature | TurboTax | Wave Accounting |
|---|---|---|
| Credit Eligibility Checker | ||
| Deduction Impact Analysis |
Analytics (0 vs 2)
| Feature | TurboTax | Wave Accounting |
|---|---|---|
| Competitor Analysis | ||
| Financial Insights |
Bank Management (0 vs 1)
| Feature | TurboTax | Wave Accounting |
|---|---|---|
| Reconciliation Tools |
Banking Integration (0 vs 1)
| Feature | TurboTax | Wave Accounting |
|---|---|---|
| Bank Connections |
Calculation (2 vs 0)
| Feature | TurboTax | Wave Accounting |
|---|---|---|
| IRS Standard Deduction | ||
| TaxCaster Calculator |
Collaboration (0 vs 2)
| Feature | TurboTax | Wave Accounting |
|---|---|---|
| Client Collaboration | ||
| Invoicing for Teams |
Collections (0 vs 1)
| Feature | TurboTax | Wave Accounting |
|---|---|---|
| Invoice Reminders |
Customer Management (0 vs 1)
| Feature | TurboTax | Wave Accounting |
|---|---|---|
| Customer Portal |
Data Management (1 vs 1)
| Feature | TurboTax | Wave Accounting |
|---|---|---|
| Data Backup | ||
| Document Import |
Data Quality (0 vs 1)
| Feature | TurboTax | Wave Accounting |
|---|---|---|
| Duplicate Detection |
Education (1 vs 0)
| Feature | TurboTax | Wave Accounting |
|---|---|---|
| Tax Law Updates |
Expense Management (0 vs 8)
| Feature | TurboTax | Wave Accounting |
|---|---|---|
| Automated Bank Categorization | ||
| Expense Categories | ||
| Expense Policies | ||
| Expense Reimbursement | ||
| Expense Tracking | ||
| Mileage Tracking | ||
| Receipt Scanning | ||
| Vendor Management |
Filing (3 vs 0)
| Feature | TurboTax | Wave Accounting |
|---|---|---|
| Amendment Filing | ||
| E-file Support | ||
| Print and Mail Support |
Financial Planning (0 vs 2)
| Feature | TurboTax | Wave Accounting |
|---|---|---|
| Budget Planning | ||
| Cash Flow Forecasting |
Guarantee (6 vs 0)
| Feature | TurboTax | Wave Accounting |
|---|---|---|
| 100% Accurate Calculations Guarantee | ||
| 7-Year Tax Return Backup | ||
| Business Tax Guarantee | ||
| Expert Full Service Guarantee | ||
| Expert-Approved Guarantee | ||
| Maximum Refund Guarantee |
Income Management (0 vs 1)
| Feature | TurboTax | Wave Accounting |
|---|---|---|
| Income Tracking |
Integration (0 vs 1)
| Feature | TurboTax | Wave Accounting |
|---|---|---|
| API Access |
International (0 vs 1)
| Feature | TurboTax | Wave Accounting |
|---|---|---|
| Multi-Currency Support |
Inventory (0 vs 1)
| Feature | TurboTax | Wave Accounting |
|---|---|---|
| Inventory Management |
Invoicing (0 vs 9)
| Feature | TurboTax | Wave Accounting |
|---|---|---|
| Batch Invoice Processing | ||
| Billable Hours Invoicing | ||
| Estimate Builder | ||
| Invoice Creation | ||
| Invoice Customization | ||
| Invoice Scheduling | ||
| Invoice Templates | ||
| Invoicing Automations | ||
| Recurring Invoices |
Mobile (0 vs 1)
| Feature | TurboTax | Wave Accounting |
|---|---|---|
| Mobile App |
Payments (0 vs 1)
| Feature | TurboTax | Wave Accounting |
|---|---|---|
| Payment Processing |
Payroll (0 vs 1)
| Feature | TurboTax | Wave Accounting |
|---|---|---|
| Payroll Processing |
Planning (1 vs 0)
| Feature | TurboTax | Wave Accounting |
|---|---|---|
| Document Checklist |
Platform (1 vs 0)
| Feature | TurboTax | Wave Accounting |
|---|---|---|
| Mobile App |
Project Management (0 vs 1)
| Feature | TurboTax | Wave Accounting |
|---|---|---|
| Project Tracking |
Reporting (0 vs 2)
| Feature | TurboTax | Wave Accounting |
|---|---|---|
| Custom Reports | ||
| Financial Reports |
Security (1 vs 3)
| Feature | TurboTax | Wave Accounting |
|---|---|---|
| Audit Trail | ||
| Security | ||
| Two-Factor Authentication | ||
| User Permissions |
Service (4 vs 0)
| Feature | TurboTax | Wave Accounting |
|---|---|---|
| Do It Yourself | ||
| Expert Assist | ||
| Expert Full Service | ||
| Expert Matching |
Support (2 vs 0)
| Feature | TurboTax | Wave Accounting |
|---|---|---|
| Audit Defense Add-on | ||
| Audit Support |
Tax Management (0 vs 3)
| Feature | TurboTax | Wave Accounting |
|---|---|---|
| Sales Tax Management | ||
| Tax Estimates | ||
| Tax Form Exports |
Tax Support (13 vs 0)
| Feature | TurboTax | Wave Accounting |
|---|---|---|
| 1099 Income Support | ||
| Business Return Support | ||
| Child Tax Credit Support | ||
| Earned Income Tax Credit (EITC) Support | ||
| Form 1040 Simple Return Support | ||
| Itemized Deductions Support | ||
| Rental Property and Property Sales Support | ||
| Retirement Plan Distributions | ||
| Schedule 1-A Deductions | ||
| Self-Employment Tax Support | ||
| Stock Sales and Crypto Support | ||
| Student Loan Interest Deduction | ||
| W-2 Income Support |
Time Tracking (0 vs 1)
| Feature | TurboTax | Wave Accounting |
|---|---|---|
| Time Tracking |
User Experience (1 vs 0)
| Feature | TurboTax | Wave Accounting |
|---|---|---|
| Pause and Resume |
Unique Features
Only in TurboTax (37)
Credit Eligibility Checker
Deduction Impact Analysis
IRS Standard Deduction
TaxCaster Calculator
Document Import
Tax Law Updates
Amendment Filing
E-file Support
Print and Mail Support
100% Accurate Calculations Guarantee
7-Year Tax Return Backup
Business Tax Guarantee
Expert Full Service Guarantee
Expert-Approved Guarantee
Maximum Refund Guarantee
Document Checklist
Security
Do It Yourself
Expert Assist
Expert Full Service
+ 17 more unique features
Only in Wave Accounting (46)
Multi-Account Support
Competitor Analysis
Financial Insights
Reconciliation Tools
Bank Connections
Client Collaboration
Invoicing for Teams
Invoice Reminders
Customer Portal
Data Backup
Duplicate Detection
Automated Bank Categorization
Expense Categories
Expense Policies
Expense Reimbursement
Expense Tracking
Mileage Tracking
Receipt Scanning
Vendor Management
Budget Planning
+ 26 more unique features
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