By paying taxes and filing the Tax Returns on time we are partnering with the government in nation building. Paying taxes and filing tax returns legitimately are the duties of every business owner. In this technologically advanced era, there are many tax filing software which helps us in navigating the compliance requirements with ease. Here I have discussed the top 10 tax filing software products for small business owners in US
1.Block Advisors
Block Advisors helps small businesses for tax preparation with the highest level of expertise. Its service includes a 365 Tax Plan for Small Business to uncover potential tax benefits. The tax advisor will review the price with you before you begin.
Block Advisors has small business tax preparation and accounting solutions to help you make the best decisions as you grow. This includes Wave, the small business accounting and invoicing software that allows you to easily manage your finances online.
2. EY Tax chat:
EY TaxChat is an on-demand, mobile tax preparation app that connects eligible US filers with Ernst & Young LLP professionals. The app is available in the Google Play Store and App store.
After signing up/logging in, you will be asked about your tax situation of the previous Tax year. There are options that you need to select, like US rental properties, Investment Income, Foreign Income, Education expenses, etc. Once you have selected appropriate items, you will be given a quote to have your tax return prepared through EY TaxChat. If you are happy with the quote, you can go ahead and create your own account.
3. H&R Block
H&R Block helps small business owners to manage their business’ tax and financial needs. There are various Tax software options. Basic Tax Software for simple tax situations, Deluxe + State Tax Software for homeowners or investors, Premium Tax Software for self-employed/ 1099 -MISC or rental property owners and Premium & Business Tax Software for small business owners with 10+ itemized expenses.
4. TurboTax
All you need to do is tell TurboTax about your job and income, if you own a home, if you have children, and about any charitable donations you made this year. TurboTax calculations are 100% accurate and guaranteed. TurboTax is up-to-date with the latest tax laws, so one can be confident that taxes will be done right.
TurboTax has free edition for simple tax returns, Deluxe for maximising tax deductions and credits, Premier if you have investments and rental property and a separate solution for self-employed with personal and business income and expenses.
5. TaxAct
TaxAct supports tax filing for sole proprietors, Partnerships, C Corporation and S corporations. You can easily access and print copies of your prior returns for seven years after the filing date. You can check E-file status and track IRS refunds. The tax tools available are simple to use and guarantees accuracy.
6. TaxSlayer
TaxSlayer has been helping clients for the past 55 years. Protecting the tax information has been tax Slayer’s top priority, always. You can file your return on the go with any device like phone, tablet, laptop, or desktop. Switching in TaxSlayer is easy. You can upload a return from another tax service. The TaxSlayer Mobile App is available in Google Play store and App store.
7. LibertyTax
From simple tax returns for you to intricate returns for your small business, Liberty Tax Online assists you with all of your specific tax filing needs. Pricing with no surprises, and you get what you pay for. Get the most out of filing your taxes with Liberty Tax’s post-filing features. These popular products go beyond filing a tax return online to offer extra safety and convenience.
8. eFile.com
eFile.com is one of the Authorised IRS e-file providers. eFile.com is a team of tax professionals and tax software vendors who provide an online platform to prepare and e-File federal and state income tax returns. The eFile.com tax software not only makes it easy to prepare and e-file federal and state income taxes, but also provides fast professional-based tax help. The eFile.com website simplifies the online tax filing process (e-filing) through easy to use tax calculators, over 10 free tax tools and preparation software that not only applies the tax law accurately, but also provides you the necessary tax deduction tools that often result in tax savings for taxpayers.
9. FreeTaxUSA
This software is simple and easy to use. It takes you through the process step-by-step, with little hints and tips along the way. It is user friendly and easy to understand. It offers free edition for simple returns and deluxe edition for complex returns. The questions are in an interview format, which is easy to understand.
10. Credit Karma
Credit Karma supports the most common tax forms. It also supports joint filing. If you are self-employed or own a small business Credit Karma will be useful.
Though, currently it doesn’t support the following situations: Multiple state filings, Part-year state filing, Foreign earned income, State returns for married filing separately in community property states and State filing without a federal filing.
If the right software product or App is used for tax filing, filing tax returns will never be a hassle anymore and it will just be a breeze walk. Hope this blog helped you to choose the right kind of product that best suits you for your tax filing requirement.
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