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How Tax Preparation Software Helps Small Business and Individuals?

Last updated: 17 Jan, 2022 By | 6 Minutes Read

Tax preparation is an important activity in any business enterprise. By using the latest software, this activity can be performed in a prompt and effective manner. Selecting the right online tax preparation software for small businesses is not a simple process and many factors are involved in it.

You have also to give importance to options like in-person assistance, live-chat services, phone support, online learning resources offered by the software company. Last but not least; pricing is another feature which needs to be looked at carefully.

Five Best Tax Preparation Software Options Available for Small Business Owners

1. Turbo Tax

TurboTax tax preparation software is the best option for small-business owners. It offers two diverse online tax software packages for these individuals. By using QuickBooks, all the business-related data can be easily imported and TurboTax will place them in the right categories.

It also offers you tools for tracking the audit risks. The tax information from previous years can be easily imported. It offers an easy to use interface. The customer service team will help you whenever you are in doubt.

2. Jackson Hewitt Online

Jackson Hewitt has also created a niche for itself as far as offering tax preparation services to small businesses is concerned. They offer cost-effective packages to clients.  Their Help Me Decide guides are an excellent option for those who are inexperienced with regards to the tax preparation process.

The high-quality deduction discovery tools can prove to be extremely helpful. Jackson Hewitt also possesses an excellent support staff that is easily available on the phone, email, live chat, etc. Personal audit support is also offered to clients who are facing an audit.

3. H&R Block

H&R Block is another good option in this regard. This tool is known for its accuracy. Features like section overviews and resource links are meant for making the tax process effective. H&R Block has a large number of retail outlets and has a staff ready to help in tax preparation matters.

They offer exceptional premium plans like five free federal e-files which is a good option for people looking for tax preparation services for multiple businesses. This company also offers free audit support and representation to the clients to help them in the audit process.

4. Lacerte Tax Software

Lacerte Tax Software provides you with an extra layer of security with cloud hosting, which includes multi-layer firewalls, two-factor authentication, end-to-end encryption, automated backups, and anti-virus program. Multiple users can access the data and share it across for a collaborative output.

Due to cloud hosting, the costs of having an in-house team and infrastructure is eradicated completely. Apart from this, Lacerte’s customized option helps in choosing the resources as per the requirements and also pay for the same only.

5. ProSeries Tax Software

With ProSeries Professional, you can easily import the data from QuickBooks, TXF files, and Quicken. The data in the form of investment income can also be downloaded from the financial institutions. DocuSign provides you with the electronic signature option to speed up the documentation.

The customer support offered over the telephone helps in eliminating every doubt related to the software use. Apart from this, online user guide and training webinars are also available to help understand the working of the software.

See Also: 

Intuit ProSeries Tax Preparation Software- A Review

Review: UltraTax Tax Preparation Software

It is up to the business owners to make the final call regarding what suits them.

Cogneesol is one of the leading tax return preparation service providers in India. It possesses an expert team which remains updated with the latest developments in the taxation industry and offers excellent services at affordable costs.

For more information contact us at info@cogneesol.com or call us at +1 646 688 2821.

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