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When you run a small business, you have to wear too many hats because there are so many things to do. You can't just ignore one part of running a small business and put all your attention on another. The only way to ensure your small business is going in the right direction is to ensure everything is in balance.
When running a business, every business owner has their quirks. However, there are some things that each small business must pay attention to, and tax filing is one of them. If you own a small business, you can't avoid filing taxes because everyone is obligated to file taxes for the biz they own.
But you should know that filing taxes for just a small business costs an average of between $184 and $825 per year for a Schedule C and a corporation. Hiring an accountant will undoubtedly give you peace of mind, but if you wish to save money by doing your taxes, you'll need the right tax software.
You should be aware that most individuals have gotten over their dislike of filing taxes because they can now do it easily with the help of tax software. Even accounting software like QuickBooks Hosting is great for filing taxes, and you don't have to worry about how complicated it is if you use it.
But when picking the best tax software, everyone has a different opinion. This is why we've listed the top 5 best online tax solutions for small businesses instead of naming just one software solution for filing taxes.
H&R Block
If you want powerful tax software to help you file your taxes quickly and easily, you should stick with H&R Block. These are the most strong tax programs, and small or medium-sized businesses use them all the time.
This tax software is on our list because it is a trusted brand in the tax preparation industry and one of the best tax programs for small and medium businesses. Also, this tax software can help with a broad range of tax situations.
Even though there are many benefits to this best tax software solution, we will only talk about the most popular ones. If you use the online edition of this best tax software, your tax returns will include income from self-employment and small businesses. You can even upgrade the tax software to get help from a tax expert whenever you need it.
Also, the mobile site of this tax software lets you upload tax documents and check on the status of your return from anywhere. If you don't like doing your taxes, this finest tax software will change your mind, and you'll be happy to do them.
TaxAct
This powerful tax filing for small businesses gives corporations and partnerships the option to file their taxes online. But the best thing about this tax software is that it's the only one that lets you do taxes for an S corporation or partnership online or on a Mac. This is the primary reason we put it on our list of the best tax software solutions.
There's no denying that this accounting software's online version isn't as polished as some of its competitors, but the good news is that it's easy to use and makes sense. Even if you require help using this app, you can easily call an expert for help. When you start utilizing TaxAct, you can be sure that it will be 100% accurate and get you the most money back.
Even the user interface of this tax software is pretty smooth, and even people who never used tax software before will find it easy to use. So, we can say that TaxAct is a great program for people who want to do their taxes. Like the first tax software, this one will get you over your dislike of doing your taxes.
TurboTax live
This is another well-known piece of best tax software many small businesses use. You should know that when looking for the best tax software, small and medium-sized businesses look first for low prices and ease of use.
The great news is that TurboTax lives everything small businesses want in their tax software, which is why it has become so popular among many small- and medium-sized businesses.
You should know that Intuit made this powerful best tax software with many options and features to meet the tax needs of all kinds of businesses, especially small businesses.
For example, you'll only need to click the pictures of your tax documents to have the information automatically added to forms or to get a head start on your returns by using information from the previous year. The best thing about TurboTax Live is that you can choose how involved you need to be with your business's tax return.
Many people like to finish everything they start. In addition, there will always be a real person ready to chat with you if you have a quick question. So, if you want a simple and effective way to file taxes for one small business, TurboTax Live is the way to go.
FreeTaxUSA
This tax software is free if you want to file federal taxes, but it will cost you money if you want to file state taxes. You will have to pay $12.95 to file state taxes if you have self-employment income. Even if you want to buy the Deluxe edition, you can quickly do so for a small fee.
If you purchase the Deluxe edition, you'll be able to use live chat and get support before anyone else. You'll have to deal with limited support if you keep using the free version. This is why, if you want to use this best tax software to file taxes for your small company, you should pay a small fee to switch to the Deluxe version.
If you select the free version, you will still be able to use all federal tax forms without paying a single cent. Even if you're looking for a way to file taxes for your small company that won't break the bank, you can stay with this powerful and cheap tax solution. But make sure you talk to your team before you make the final choice.
TaxSlayer
One of the major reasons we put this tax software on our list is that it is cheap and has one of the top online experiences, which is like a magic wand for self-employed people who file taxes. Many small businesses use this tax software because it is easy to use and works well for small businesses that file their taxes independently.
When you use this tax software, you will pay less for your federal taxes, especially compared to other market tax software. The version of this tax software for people who work for themselves offers you access to a tax professional. This creates it simple to file your taxes.
The best thing about this tax software is that you can get help with it over chat, the phone, or email. The team behind tax software has great customer service, and you won't have to wait long to get your questions answered.
If you have a side job and get a 1099 tax form, you can be sure that Taxslayer's version for self-employed people will be able to help you in the best way possible. TaxSlayer is 100% accurate, and the company that makes it even guarantees the most money back.
Conclusion
Selecting the finest tax software for your firm might seem difficult, but if you keep an eye on the proper tax software and know which software package you need, you can make the right choice. Read over the list in this blog post to choose the best accounting system for your small business.