Small business tax and accounting software

Next to QuickBooks Pro, Sage 50cloud has one of the biggest tax support offerings on the market. The software also has a unique Year-End Wizard feature that walks you through how to close your books, so you can be ready to file your taxes correctly. While we admire these aspects of Sage 50cloud, the software is not without its faults — mainly the price. The software also has a steep learning curve, and the UI is outdated.

Get Started with Sage 50cloud. Using any of these three options, you can file your taxes with ease and confidence, knowing that you will survive another year — hopefully with much less stress and fear. For the freelancers and the self-employed, QuickBooks Self-Employed is the way to go. The TurboTax integration in and of itself is almost reason enough to make use of this tax tool.

Sage 50cloud is ideal for medium to large businesses needing to file s, W-2s, or W-3s. Switching accounting software in the middle of tax season might cause unnecessary hassle unless you feel up to the challenge.

So instead, get a leg up for next tax season and start using one of these accounting software options for the years ahead. Read our comprehensive accounting software reviews to learn more about each option. With the right accounting software, you can survive another tax season! Good luck, and happy filing! Responses are not provided or commissioned by the vendor or bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the vendor or bank advertiser. Thanks for this great list.

I personally think that firms that offer tax services here in the Philippines must use this kind of software so that it increases their effectiveness and efficiency in their work. Your email address will not be published. Comment moderation is enabled.

Your comment may take some time to appear. Please read the " User Review and Comment Policy " before posting. Read More: Free Tax Software - Find the best free software for preparing and filing corporate income taxes. Things to Consider When Evaluating Tax Software: Look for intuitive, easy-to-use software that will automatically work out your deductions and prepare your tax return. Most tax software requires you to fill out one or more forms to prepare your tax return.

You should look for software that filters questions based on your responses so that you don't have to answer questions that are not related to your business. Evaluate the stability and experience of the provider. You will want a company that has a proven track record and that will be available to you for years to come so that you can quickly upload your previous returns and import that data. Is easy to use and offers a free plan but offers poor customer support and limited guidance.

Offers helpful HR features and great customer support but there is a steep learning curve. However, tax-exempt organizations that file Form must by the downloadable version though.. If you need assistance along the way, tax help and technical support are both available by phone. Customer service without tax help is also available by email.

You can pay extra during your tax preparation process to add audit support with their third-party partner Protection Plus. Overall, TaxAct is an excellent choice for those who can handle things primarily on their own, and perhaps the only choice for PC or Mac users who want to do partnership or corporation taxes on their own, which is why it's our top tax software choice for partnerships and corporations.

We rank TaxSlayer as best for self-employed because of its low pricing and a highly rated online experience that works well for self-employed tax filers who earn via a and need to complete a Schedule C. TaxSlayer traces its roots in tax preparation to It started offering tax software to professional tax preparers in and launched its consumer-facing do-it-yourself tax software business in With TaxSlayer, you can do your taxes online or with the TaxSlayer mobile app.

This version includes tax preparation for a Schedule C for those who operate as sole proprietors as well as LLCs. If you have a side hustle and get a tax form, for example, TaxSlayer Self-Employed would handle your needs.

The Self-Employed edition includes access to a tax professional for help with all of your individual tax questions while completing your taxes. It also includes phone, live chat, and email support as well as technical support. Both the Premium and Self-Employed editions include Audit Assistance for up to 3 years after your return is accepted.

A market leader, TurboTax includes an option to get on-demand support from a tax professional at home as well as robust technical support for its online and downloadable products, which is why it is our pick for best for virtual assistance. TurboTax is one of the largest providers of DIY tax software and a good choice for many businesses.

TurboTax is owned by Intuit, a California-based software company founded in , and it offers online, desktop, and mobile versions to prepare and file your taxes. Most business owners using the online version of TurboTax would benefit from TurboTax Self-Employed, which includes personal and business income and expense tax forms. This version is needed if you want to prepare taxes for a partnership or corporation. If you want extra help and have questions about your taxes along the way, TurboTax Live is an add-on that includes access to a CPA or other tax expert on-demand, including evening and weekend hours.

This includes tax support along the way and a final review of your taxes before filing. All TurboTax options include regular access to product and technical support. Customers are also protected by audit support for 3 years for most returns. TurboTax is popular for a reason: It has an excellent user interfaces and great built-in guidance while completing your taxes. For those who may want extra help along the way, adding on TurboTax Live could be a smart decision. This tool makes TurboTax the best tax software for at-home assistance.

QuickBooks Online is the best overall accounting software for small businesses of those reviewed. Not only do the majority of small business accounting professionals use QuickBooks Online, but there are also endless online training resources and forums to get support when needed. All accounting features can be conveniently accessed on one main dashboard, making bookkeeping more fluid and efficient.

The software is cloud-based and can be accessed through a web browser or through the mobile app. Typically there is a significant discount offered for the first few months, and some accountants are able to offer wholesale pricing to small businesses, as well.

The monthly subscription for this software can be upgraded as a business grows, and there are many customization options with the mobile app that can be used to receive payments, review reports, capture an image of a receipt, and track business mileage. Each plan offers more advanced features like inventory management , time tracking, additional users, and budgeting. Most service-based small businesses will find that Simple Start meets all of their needs.

For product-based small businesses, Essentials or Plus will have more options for inventory and customizations. The Advanced subscription is a new offering and provides robust financial reporting that is powered by Fathom. Fathom is an elite online financial report analysis tool used by many large companies all over the world.

All plans allow integration with third-party apps such as Stripe or PayPal. Xero is the best in our review for micro-businesses that are looking for very simple accounting software. This software has a clean interface and also fully integrates with a third-party payroll service. Xero was founded in in New Zealand and now has over 2. Xero has over 3, employees and is growing rapidly in the U.

The Early plan limits usage and only allows entry for five invoices or quotes, five bills, and reconciliation of 20 bank transactions per month. This limited plan may be suitable for a micro-business with high-ticket transactions, but only a few per month, such as a consulting or small service provider. Both the Growing and Established plans offer unlimited invoices, bills, and transactions.

The only difference between the two is that the Established plan has additional features like multi-currency, expense management, and project costing. All three plans offer Hubdoc, a bill and receipt capture solution. The most crucial accounting need for most service-based businesses is invoicing. FreshBooks offers more customizations for invoicing compared to other accounting software.

This accounting software makes it easier for service-based businesses to send proposals and invoices, request deposits, collect client retainers , track time on projects, and receive payments. Founded in in Toronto, FreshBooks started as just an invoicing software.

Over time, more features have been added and FreshBooks now has over employees. The main difference between the four plans is the number of different clients that are allowed to be billed per month. In the Lite plan, up to five clients can be billed per month. In the Plus plan, up to 50 clients can be billed per month. In the Premium plan, unlimited clients can be billed per month. The Select plan also does not have a limitation on the number of clients that can be billed per month, but adds unique features.