If you are a business owner, that means you are preparing yourself for the sales tax returns. If so, then let me ask you:
- Are you going with the right methods?
- Are all your collected data accurate?
- Are you efficient?
If any of the questions mentioned above raise the red flag, that means you are in serious need of tax software that can help with sales tax calculation.
According to the National Society Of Accountants, the average cost of preparing a sales tax return for businesses is between $200 to $1000. Well, this much is nothing for the businesses that are earning in thousands.
But what if this amount can be saved without affecting the accounting results. Does this sound interesting? If so, then stick with us. Here we will talk about tax software that will help you with the preparation of filing tax returns.
Best Tax Software For Small Businesses
Today, every software you find in the market claims to be the best. But we all know that not all software applications are the best in the market. Some are the best, and some are better than them.
To select the best tax software for the small businesses, we have reviewed several software applications based on their:
- User interface.
- Accuracy with the calculation.
- Ease of use.
- And other fundamental elements.
And this is the conclusion we came upon.
TaxAct is a great place to prepare partnership taxation or corporate taxation. Even if your corporate business falls under the S group, you will be able to use this software to file your tax. The best part of this tax software is that you can use it online and on your desktop. Both options cater to the same features.
The TaxAct has completed 60 million tax returns since its first inception in the market in 1998. Business owners need to pay almost $110 plus $55 (per state) to enjoy their services.
Though this platform is one of our recommendations, let us warn you beforehand. The online quality is not what you will expert in 2020.
TaxSlayer is one of the best self-employed tax software. The reasons are very simple. It is the most affordable tax software with a high-quality performance that works like a charm for self-employed taxpayers.
The self-employed version of this software costs $47 plus $39 per state. It includes every possible situation a self-employed taxpayer might face. TaxSlayer is 100% accurate with the tax calculation and guaranteed maximum return.
However, this software’s only flaw is that it does not work with most of the selective business models.
TurboTax is a global leader in the Tax software industry. It caters to some of the most advanced features in the industry. You can even get professional help with just one click. It has robust technical support that is constantly engaging with the audiences for better customer services. This is the reason why we have picked it up to be in the outer list.
Most business owners are using the online version of TurboTax. A California-based company, Intuit, owns this software. This version costs $120 plus $50 per state.
FreeTaxUSA is the cheapest Tax Software in the market. The value starts with $0 for the federal tax returns and $14 for state returns. FreeTaxUSA is a low-cost solution to deal with the tax return yourself. It was launched in 2001, and since then, it has been very popular among small business owners.
As we have already said that the federal version is free for federal users, though you can pay $22 to experience full tax preparation.
5. H&R Block Online
If you are looking for a software application that can perform on every standard, H&R might perfectly suit you. It is well-known software in the business industry and is used by businesses of all sizes. It offers clients the best user interface and covers a wide range of taxation situations to give better solutions to the taxpayers.
This software is available for both online and desktop versions and runs the users through complex situations. The software is premium and will cost around $80. However, if your sales tax income falls under schedule C, you can have a $70 version of the Block Online.
This piece of information was based on reviewing selective tax software applications. There is other software as well that might come close to these softwares in performances. But you need to understand that the winning business software has the best user interface and acts as some of the best features to their audiences.
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