TaxAct vs Wealthsimple Tax (2026): which should you pick?
As of Nov 13, 2026, Wealthsimple Tax grades higher than TaxAct: 3.0 against 2.4 out of 4.0.
Checked Nov 12, 2026 and Nov 13, 2026 · graded Nov 13, 2026 by ToolGPA
Wealthsimple Tax grades higher on value for money, the free plan and features. They get the same grade on ease of use and platforms.
Price, platforms and features side by side. The table says where each price was read and when.
TaxAct
Online and downloadable tax filing for individuals and businesses
Wealthsimple Tax
Canadian personal tax filing with a pay-what-you-want basic plan
Which one is for you
Pick TaxAct if
- Fits if you have a simple return and want to file federal for free
- Works for self-employed filers who file once a year and want to pay by the return
Look elsewhere if
- Skip it if you have investment, rental or self-employment income and want to stay free, as the free edition excludes all three
- Tight if you file in a state, since returns cost $54.99 on Free and $64.99 on Self-Employed
- Watch out: Xpert Assist is $45 on the pricing cards but $60 in the FAQ
- Not for you if you want bookkeeping or invoicing, as it only prepares and e-files taxes
Pick Wealthsimple Tax if
- Fits if you file a Canadian return for yourself and one more person
- Works for people who want to pay what they choose
Look elsewhere if
- Not for you if you file outside Canada, as it covers Canadian returns only
- Tight if you file more than 2 returns, as Basic stops there and Plus allows 8
- Watch out: Pro is not available in Quebec or in French
- Watch out: Plus and Pro are free only for qualifying Premium or Generation clients
- Watch out: prices are in Canadian dollars plus tax
How we grade them
| 2.4GPATaxActFair | 3.0GPAWealthsimple TaxVery good | |
|---|---|---|
| Value for money | BBasic download is $44.99 a tax year and online starts at $59.99, with Self-Employed at $109.99. State returns add $54.99 to $64.99 each. | ABasic is pay what you want including $0, and Plus is CA$40 a tax year, so it is free and substantial. |
| Free plan and trial | BFree federal filing for simple Form 1040 returns, with the vendor saying about 40% of filers qualified. Investment income, itemised deductions, rental income and self-employment income are excluded. | AFree outright at $0 for up to 2 returns with every form and income type, which a person filing for themselves does not outgrow. |
| Features | CIt prepares and files taxes, with business returns and expert help on top. A smaller job than bookkeeping, and it is not bookkeeping or invoicing software. | BCRA auto-fill, a credits search, a max-refund guarantee and audit protection do the whole job of a Canadian personal return. |
| Ease of use | CNo store rating on record. A guided interview, but you still have to collect your own tax documents. | CA web app with no store rating on record, and you still enter your own figures. |
| Platforms and integrations | CWeb only on the listing, with no integrations on record. | CWeb only, and no integrations are listed. |
| Best for | filing a simple US federal return for free | Canadian personal tax filing for free |
The GPA is the average of the five grades: an A is 4 points, an F is none. The full reasons are on each tool's page: TaxAct and Wealthsimple Tax. How we grade
Where they differ
- TaxAct also covers documents.
- Wealthsimple Tax also covers forms.
At a glance
| TaxAct | Wealthsimple Tax | |
|---|---|---|
| Pricing | Free plan | Free plan |
| Starts at | $44.99 per tax year (download); online from $59.99, states extra | CA$40 + tax per tax year (Plus); Basic is pay what you want, including $0 |
| Free plan | Free edition: $0 federal filing for simple Form 1040 returns (W-2, unemployment and retirement income, common credits, dependents). The vendor says about 40% of filers qualified. State returns extra. | Basic: pay what you want, including $0, for up to 2 returns, with every form and income type available. |
| Free trial | None listed | None listed |
| Web | ||
| Made by | TaxAct | Wealthsimple |
| Price read from | taxact.com | wealthsimple.com |
| Checked | Nov 12, 2026 | Nov 13, 2026 |
Worth knowing
TaxAct
- State returns are charged separately: $54.99 each on the Free edition and $64.99 each on Self-Employed.
- Free federal filing excludes investment income, itemized deductions, rental income and self-employment income.
- Xpert Assist is shown at $45 on the pricing cards but $60 in the page's FAQ.
- It prepares and e-files taxes only; it is not bookkeeping or invoicing software.
Wealthsimple Tax
- Prices are in Canadian dollars plus tax; Wealthsimple Tax serves Canadian returns only.
- Pro is not available to Quebec residents or in French, and expert availability is only guaranteed if booked before April 6, 2026.
- Basic allows 2 returns and Plus 8 per account; the page lists Pro as 9+ in one place and up to 20 in its FAQ, 20 being the CRA's NETFILE limit.
- Plus and Pro are free only for Wealthsimple clients who qualify as Premium or Generation.
Key features
TaxAct
- Guided federal and state filing
- The online editions walk through a return step by step, import W-2 or 1099 data, and e-file with direct deposit.
- Free federal edition
- Simple Form 1040 returns with no attached forms or schedules can be filed federally at no cost; investment, rental and self-employed income need a paid edition.
- Business returns
- Editions exist for partnerships, S-corporations, C-corporations, sole proprietors, and estates and trusts, with uploaded forms such as Schedule K-1 sorted into the return.
- Xpert Assist
- An add-on that gives unlimited calls or chats with credentialed tax experts while you file, available on the consumer 1040 editions.
- Xpert Full Service
- Experts prepare and file the return for you, from $99 plus $69 for all states. The page said the service was at full capacity when read.
- Tax calculators
- The tax resources section offers an income tax calculator and other estimators for working out a refund or credits.
Wealthsimple Tax
- Pay-what-you-want filing
- The Basic plan lets you choose what to pay, down to $0, and the page says there are no limits on the income types or deductions it covers.
- CRA auto-fill
- Tax slips can be imported from the CRA or Revenu Québec, and existing Wealthsimple clients have personal details carried over.
- Credits and deductions search
- The software searches over 400 possible credits and deductions and, for couples, works out who should claim what.
- Maximum refund guarantee
- If a competitor's software finds a larger refund on identical information before December 31, 2026, Wealthsimple refunds the competitor's price up to $50 CAD or any payment you made, whichever is greater.
- Audit protection
- Plus and Pro include help if the CRA or Revenu Québec reviews or audits a return.
- Expert session
- Pro includes a one-on-one 30-minute consultation with a tax expert, followed up by email.
Plans
TaxAct
Free (online)$0
Federal filing for simple returns with no forms or schedules attached. A state return is $54.99 each.
Basic (download)$44.99
per tax year, includes 5 federal e-files
Downloadable software; state returns are an additional charge. The download page does not state which operating systems it supports.
Deluxe (online)$59.99
per federal return
Adds home ownership, child and dependent care, and HSA contributions. State returns are extra.
Premier (online)$99.99
per federal return
Adds selling stocks or crypto, selling a home and rental income. State returns are extra.
Self-Employed (online)$109.99
per federal return
Adds contract, freelance, rideshare and sole-proprietor income. A state return is $64.99 each.
Business (online)$159.99
per return, Partnerships (Form 1065)
S-corporations (1120-S) and C-corporations (1120) are $169.99 each. State returns are extra.
Wealthsimple Tax
Basic$0
Pay what you want, even $0; up to 2 returns, max-refund guarantee and standard (3-day) email support.
PlusCA$40
per tax year, plus tax, in Canadian dollars
Up to 8 returns, audit protection and priority (1-day) email support; free for Premium clients.
ProCA$80
per tax year, plus tax, in Canadian dollars
Everything in Plus plus a 30-minute one-on-one session with a tax expert; free for Generation clients; not available in Quebec or in French.
Ways to pay less
TaxAct
No public discounts listed.
Wealthsimple Tax
- Other savings
Free Plus or Pro for Premium and Generation clients
Wealthsimple clients who qualify as Premium or Generation get the Plus or Pro plan at no charge.
Common questions
Which is cheaper, TaxAct or Wealthsimple Tax?
As of Nov 13, 2026, TaxAct starts at $44.99 per tax year (download); online from $59.99, states extra, and Wealthsimple Tax starts at CA$40 + tax per tax year (Plus); Basic is pay what you want, including $0.
Which has a free plan, TaxAct or Wealthsimple Tax?
As of Nov 13, 2026, both TaxAct and Wealthsimple Tax have a free plan.
More comparisons
How this page was made
- The verdict at the top follows a fixed rule. When both tools are in the same category and either is in our top three for it, the verdict follows that ranking: the higher-placed tool is our pick. The top three weigh who each tool suits as well as its grades, so a pick can go against the GPA. Otherwise the page does not pick one and says which grades higher: the higher GPA first; on a tie, the one with a free plan, then the one that starts cheaper in dollars a month, counted the same way for both; if they are still level, what the choice depends on.
- The grades are our own, from each tool’s review or report card. The GPA is their average.
- Prices, plans and platforms come from each tool’s listing. The table above says where each price was read and when.
- The differences and the answers to the questions are worked out from those listings.