By giving your information to TurboTax, you also give it to Intuit, which can share it with its other business lines.TurboTax, the Intuit product with the biggest household name, collects the sensitive details necessary to do your taxes: your Social Security number, where you work, your income, whether you own a home, what deductions you're eligible for, and where you bank.

The acquisition will 'accelerate Intuit’s ability to organize, understand, and use data to deliver personalized insights,' Intuit CEO Sasan Goodarzi said in a press release.ĭetails: Whether you're using Mint to keep a monthly budget or a DIY taxpayer who enjoys the ease of TurboTax, some of your information is shared across all of the company's platforms, per the company's privacy statement. Why it matters: The company can cross-sell its own products as well as products and services from third parties - like a Capital One Platinum Credit Card or a loan from Lending Club - based on what it knows about you.ĭriving the news: Intuit said Tuesday it had agreed to buy analytics company Origami Logic, effectively doubling down on the use of customer data to enhance its marketing. If you file taxes with TurboTax, use the budgeting app Mint, or run a small business with QuickBooks, Intuit - the parent company of all of these services - knows as much about you as your bank does, if not more.

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