Intuit Turbo Launches New Household Income View
May 10 2018 - 8:00AM
Business Wire
Turbo Provides a Robust Financial Health
Profile to Empower Consumers to Make Financial Decisions with
Confidence
According to the US Census Bureau, more than 50 percent of
Americans are married, yet no personal finance app shows a
consolidated and holistic view of a household’s IRS-verified
income, leaving multi-income families underserved in financial
resources. Today, Turbo from Intuit Inc. (Nasdaq:INTU) the maker of
TurboTax® and Mint®, is solving this with the launch of a new
household income view giving consumers a more robust financial
health profile that empowers them to make informed financial
decisions with confidence.
With this update, Turbo users will be able to automatically
import all income streams – whether a full-time job with a W-2, a
side gig with a 1099, or non-taxable military income – for both
themselves and their spouses directly from TurboTax. Users will
also be able to add in any additional self-reported income for
themselves or other family members and toggle between their
individual, household and self-reported incomes for a more complete
picture.
This most recent update is important because the first step in
taking control of your finances is understanding your true income
and debt. This more holistic view is also valuable if users choose
to share their household view with Turbo partners to apply for
better rates, and to prequalify or even be preapproved for
loans.
“Too many Americans practice avoidance when it comes to their
financial lives – it can be scary to tackle head on. Our goal with
Turbo is to empower consumers to understand where they truly stand,
so they can take that first step toward achieving their financial
goals,” said Varun Krishna, Vice President of Product Management,
Intuit’s Consumer Group. “A household income view is just the
beginning as we continue to listen to users and provide them with a
richer and deeper financial profile.”
Turbo, which Intuit Inc. launched in 2017, is the first free
personal finance app that brings together three key numbers: credit
score, verified IRS-filed household income and user’s
debt-to-income ratio. Together, these three numbers provide a more
complete picture of where users truly stand financially and how to
take the first step to improving their financial health.
Turbo features now include:
- NEW! Household Income: Turbo
represents income not only for individuals with complex situations
(multiple W-2s, 1099s, etc.) but now does so for households as
well.
- Credit Score and More: Turbo
shows the three numbers that matter to financial health – credit
score, verified IRS-filed income and debt-to-income ratio – to give
you your true financial profile.
- Customized Advice and Insights:
Turbo provides customized advice and insights, like how a user
might improve their debt-to-income ratio or improve their credit
score, so they can qualify and secure a loan at the best rate
possible.
- Benchmarking: Turbo will help
consumers benchmark themselves against people like them using
verified tax and credit data, so they can see where they stand
financially compared to others like them.
- 24/7 Credit Monitoring: Turbo
alerts users as soon as it notices new or suspicious activity on
their credit report. Users can get instant access to their report
and see what’s changed.
The Turbo app is free for everyone and available at
www.Turbo.com, in the Apple App Store, and in Google Play.
About Intuit
Intuit’s mission is to Power Prosperity Around
the World. Its global products and platforms,
including TurboTax, QuickBooks, Mint and Turbo, are
designed to empower consumers, self-employed, and small
businesses to improve their financial lives, finding them more
money with the least amount of work, while giving them complete
confidence in their actions and decisions. Intuit’s innovative
ecosystem of financial management solutions serves partners
and 46 million customers worldwide, unleashing the power of
many for the prosperity of one. For the latest news and
in-depth information about Intuit and its
brands, visit Intuit.com and follow
on Facebook.
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IntuitKeri Danielski, 858-395-2315keri_danielski@intuit.comorThe
Outcast AgencyAngi Ramos,
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