SoloFI vs QuickBooks Self-Employed
Detailed comparison to help you choose the right financial tool for your freelance business
SoloFI is better for wealth-building freelancers
QuickBooks Self-Employed is solid for basic bookkeeping, but if you're focused on optimizing taxes and building wealth toward financial independence, SoloFI offers specialized tools that QuickBooks lacks entirely.
SoloFI
Financial independence for freelancers
Freepremium features coming soon
Best for:
- Freelancers focused on building wealth
- Those pursuing financial independence
- Self-employed wanting tax optimization
- Solo business owners tracking net worth
Key advantages:
- Built specifically for FI-focused freelancers
- Tax optimization calculators (Solo 401k, HSA, S-Corp)
- Net worth tracking with FI projections
- Free to use
- No upsells or ecosystem lock-in
QuickBooks Self-Employed
Accounting software from Intuit
$15/moor $30/mo with TurboTax
Best for:
- Freelancers who need invoicing
- Those already in the Intuit ecosystem
- Simple expense tracking needs
- Quarterly tax estimation
Limitations:
- No net worth tracking
- No FI planning tools
- Limited retirement optimization
- No S-Corp analysis
- Expensive for basic features
- Pushes TurboTax upsells
Feature Comparison
| Feature | SoloFI | QuickBooks Self-Employed |
|---|---|---|
Expense Tracking | ||
Income Tracking | ||
Quarterly Tax Estimates | ||
Mileage Tracking | ||
Invoicing | ||
Net Worth Tracking Track all assets and liabilities | ||
FI Number Calculator Calculate your financial independence target | ||
Solo 401k Optimizer Maximize retirement contributions | ||
S-Corp Analysis Should you elect S-Corp status? | ||
HSA Optimization | ||
Roth Conversion Planning | ||
QBI Deduction Calculator | ||
Bank Connection | coming soon | |
Receipt Scanning | ||
Tax Filing Integration | TurboTax | |
Price | Free | $15-30/mo |
Choose SoloFI if you...
- Want to optimize retirement contributions (Solo 401k, SEP IRA)
- Are evaluating S-Corp election
- Track net worth and FI progress
- Want free tax optimization tools
- Focus on building long-term wealth
- Don't need invoicing features
Choose QuickBooks Self-Employed if you...
- Need invoicing built-in
- Want mileage tracking
- Already use TurboTax and want integration
- Need receipt scanning
- Prefer established brand with phone support