4 Best Tax Preparation Software Programs For Business

4 Best Tax Preparation Software Programs For Business

Tax Return Preparation Software for Professionals

Tax preparation is indeed a huge work and responsibility- that’s why many business owners opt to hire a CFO professional. If you are just starting your business and you’re budget is not yet that huge, well opting for professional will cost you greatly, as the average cost of hiring of a professional is around $275.

Thankfully, there is available tax preparation software that will help you sort and prepare your taxes. Some programs are a bit pricey, but a lot cheaper than hiring a professional. Here are 4 best tax preparation software programs to use for a less hassle tax preparation.

Professional Tax Preparation Softwares

TaxAct Premium

The Basics:

Also used to be known as Personal Tax Edge and completely free, today they offer the online premium edition which costs less than $50. The free version is still available, but only for 1040EZ and 1040A filers and you’ll have to pay if you want an audit defense.

What does it offer?

It may offer less compared to other software, but it is able to handle returns that include self-employment and investment income. It has also a special feature called Life Events, which covers potential changes in your tax situation from last year up to present. They also offer extra tips and guidance in accordance with their 19 categories. They also offer live customer support and a Tax Tutor Guidance Center.

TurboTax

The Basics:

Arguably the greatest tax software, many users, and experts have used this because of its high tech features. TurboTax is the best overall tax software for business because of its comprehensive and powerful features. The price is 55$, but if your tax situation is just simply by filing only Form 1040EZ or Form 1040A, you can use the TurboTax Absolute Zero version for free. However, if you started to do something much more complicated, you will be charged for it.

What does it offer?

Some of its features include:

  • You can take pictures of your W-2s and 1099 forms
  • Expense Finder, a feature made for self-employed and must file schedule C. It can lift potentially tax-deductible expenditures directly from your bank account, categorize them and input them accordingly.
  • They offer experts who can chat with you in case you need help. (You need to use the online version for this one)
  • SmartLook feature which enables you to have a talk face –to- face with a tax expert.

Tax Slayer

The Basics:

A free software, Tax Slayer was initially designed only for tax professionals, but today they now help common individuals to prepare their personal tax returns.

What does it offer?

Their best feature is its “Quick File” option, which will save you time in inputting your tax information in a sequential order. It’s cued by simply typing only a keyword rather than searching through lists of links. They have a premium version which is about $40 and has better support options like waving a distress flag by email, chat or phone in case you needed help. They also offer a version for self-employed individuals which costs $55.

Credit Karma

The Basics:

Credit Karma was launched in 2016 and although a free software, you need to sign up for the credit monitoring program which is 30$ per month. You may also encounter a lot of ads.

What does it offer?

Compared to other free software, it has features which can handle more complicated work, although not as extensive as the premium software. It also calculates your tax returns based on your answers, works on tax topics and will help you in the step-by-step tax preparation process. In case you run into a problem, you can email their customer support for assistance.

 

“Technology has indeed, helped our world a lot today and with these tax preparation software programs, you’ll have your taxes prepared hassle-free without breaking the bank.”

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