Top 5 Tax Software Options for Small Businesses
You have many responsibilities as a small business owner. One of them is tax preparation, which is both complex and time consuming. You need to be careful when filling out your small business income tax returns. A small mistake in your tax return could lead to a tax audit. If an error is found during the audit, you will be liable to penalties and interest.
Fortunately, there are many small business tax software options that can help you file your income tax returns accurately. Tax software allows you to maximize your tax deductions, avoid audits, file from the comfort of any device, import tax files from previous tax software, and keep a tax register. You can also save on business expenses by not hiring a tax professional.
We’ve listed the top five tax software options for small businesses that are user-friendly and help you prepare an accurate tax return.
1. Free taxes
Freetaxusa is a great tax solution for you if you are running a small business. It guarantees maximum yields and precision. The software allows you to import PDF files of previous tax returns from other tax software. You can report your taxes correctly with its easy to use interface. Freetaxusa has an email customer support team to help you with complicated tax situations.
This software with basic functionality and a simple interface is suitable for small business owners. You can file tax returns through its cloud-based online software. While preparing tax returns, you will get help via pop-up messages and banner tracking so that you can complete the steps correctly.
2. H&R block
H&R Block helps you prepare your tax returns and provides you with a great user experience. As a small business owner, this is the right choice for you as it covers most tax situations. You can have your return verified by a tax professional before filing it to ensure accuracy and maximum reimbursement.
You can work on any device, store data in the cloud, and get deduction recommendations. H&R Block allows you to import data from tax forms and other software. You can file your taxes online or use downloadable software with H&R Block. Plus, you get accounting benefits because H&R Block has a connection to Xero.
3. Freedom tax
LibertyTax is leading tax software that promises maximum tax deductions and precision. You can report your taxes with confidence with this software as it checks every calculation. The user-friendly interface allows you to file your taxes online quickly. Besides chat, email, and social media, you can get in-person support, which is LibertyTax’s highlight.
The software is ideal for established small businesses and those just starting out. You can learn more about taxes through their training courses, which are available online and offline. You can get help in person when you are stuck in a complicated tax situation, especially when you are new to filing income tax returns for your business.
ProConnect is great tax software for small businesses. You can use the software on different platforms. Its user-friendly interface allows you to easily navigate and enter data for the tax return. You can view important things like names, amounts and numbers on ProConnect to make your tax return accurate. The software helps you maximize your accuracy with its calculations and diagnostics.
Another great feature of this software is that you can import files from Excel because it is compatible with QuickBooks. ProConnect allows you to import multiple files at the same time. You can learn more about taxes through their online training tools, videos, and webinars.
TurboTax is one of the best tax software for small business owners. The easy-to-use software helps you file your taxes correctly in accordance with tax laws. You shouldn’t have to worry about new tax laws because their updates take care of it. TurboTax allows you to perform error checks to make sure your tax returns are accurate.
A great aspect of the software is that it suggests small business tax deductions that apply to you. If you have multiple businesses, this software is for you. You can easily file taxes online for your small business with its tax defense and audit assistance. A new feature gives you live support from an experienced public accountant or registered agent, if needed.
There are a few things you should consider when exploring small business tax software options. The software should provide a good user experience and include the functionality required to prepare an accurate tax return. Choose tax software that is affordable and has good customer reviews. It is good to go for tax software that offers both tax support and technical support. You can report your taxes on your own with confidence using the software without hiring a professional tax preparer.