8 best tax filing software for small businesses [2022 Guide]

Payroll services can help with employment and salaries management.

by Ivan Jenic
Ivan Jenic
Ivan Jenic
Troubleshooting Expert
Passionate about all elements related to Windows and combined with his innate curiosity, Ivan has delved deep into understanding this operating system, with a specialization in drivers and... read more
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  • When it comes to taxes, it can be really hard for small business owners to do all the accounting work.
  • End-to-end automated payroll, pension integrations, self-posting journals, bulk payroll processing, and many other features are included.
  • IT professionals and HR administrators can also configure some payroll software programs from this list.
  • This guide will show you the best available options so make sure to check them all out and choose the one that fits your needs.
taxes - tax software without EFIN

As a business owner, you need to file your business tax returns regularly. This can be an arduous and time-consuming task. One major thing is, that you have to fill it one after the other accurately and timely.

However, technology has made tax filing easy as there is numerous tax filing software available. One advantage of using software is they enable quick automated filling of software which enables you to easily focus on running your business.

Windows Report has compiled some of the best tax filing software which enables the quick and accurate filing of taxes.

What are the best payroll software options for filing taxes?

FreshBooks – Best for freelancing

FreshBooks is well-known accounting software that provides a variety of essential capabilities for individuals as well as small and medium-sized enterprises.
Freshbooks tracks your mistakes and inaccuracies, improves operational efficiency, and connects timesheets to payroll.

Although Freshbooks does not have a native functionality for handling employee payrolls, it does have two integrations. With versatile connections that sync with Freshbooks, you can make data sharing easier.

To assist owners with payroll, FreshBooks has teamed with Gusto, the top small company payroll system in the United States. provide payroll services, benefits, and human resource solutions

It provides full-service payroll, managing everything from payroll taxes to HR inquiries. Gusto also offers other services like health insurance, retirement plans, and employee onboarding tools.

When you combine FreshBooks and Gusto, your payroll data is instantly transferred into FreshBooks, making bookkeeping simple and accurate.

FreshBooks

FreshBooks is a simplified method for managing spending, invoicing, reports, and time tracking.

Check price Visit website

Zoho Books – Detailed organizer and planner

Keeping track of your employee’s salaries is just as crucial as paying them on time, and Zoho Books with payroll integration can assist you with that. You can keep track of the wages you pay and the taxes you pay in your Zoho Books dashboard.

Manually entering data after each pay run can be time-consuming and tedious. This is when Zoho Payroll comes in handy. Zoho Payroll is a full payroll administration system that calculates wages, taxes, and deductions automatically, sends out payslips and handles all other payroll-related tasks.

It is integrated with Zoho Books, ensuring that your payroll and accounting are in sync. All payroll costs and tax obligations will be documented in the appropriate Expense and Liability accounts. This will immediately be shown in your Profit and Loss report, confirming that your financial statement is correct.

The act of rewarding your employees for the days they worked in a month is referred to as a pay run. You can easily create your company’s payroll structure and perform pay runs for your employees using Zoho Payroll.

Employee Portal enables your workers to examine their pay stubs and do all payroll-related tasks such as declaring FBP and IT, providing investment evidence, and making reimbursement claims.

Zoho Books

Employees can be connected with retirement programs, health insurance, and taxation benefits.

Check price Visit website

TurboTax – Best for income tax preparation

opera

TurboTax is a popular tax software commonly used by small business owners and partnerships. The major advantage of this software is the free federal and state filing options on offer. TurboTax also enables you to create unlimited W-2 and 1099 forms, and documents for partners and shareholders.

Meanwhile, you can also request expert advice from tax personnel. It also makes it easy for users to prepare taxes for multiple business clients in one place. After filling your tax TurboTax displays a final review of your returns prepared with the advice of a CPA agent.

However, TurboTax lacks personal tax features as it only offers a business prep version; secondly, the software takes time to install.

TurboTax

Maximize your deductions, import investment income, and many more with this amazing tax software. <br>

Free trial Visit website

QuickBooks – Multiple accounting management

Generating the end-of-year reports for your business takes a lot of time and effort and you can feel overwhelmed pretty quickly. With QuickBooks, you can easily prepare your tax returns and have your data saved into a format that can be imported into Intuit’s Turbo Tax Software.

Make sure that your version of QuickBook has an active registration code if you want to prepare your business taxes using TurboTax. Additionally, your TurboTax software needs to be installed on the same physical drive as the one where you have QuickBooks before you can import data.

The good news is that in case you prepare and file your taxes using Intuit TurboTax, you can import your QuickBooks data directly into the application.

If you want to generate your end-of-year reports you have 3 different types of reports to choose from: Profit & Loss Standard reports, Accountant & Taxes, and Vendors & Payables reports.

To generate the Profit & Loss Standard report:

  1. Open Quickbooks.
  2. Click on Reports.
  3. Go to Profit & Loss Standard.
  4. Next, go to Company & Financials.
  5. From the Transaction Date drop-down select Last Fiscal Year.
  6. Click Run report.
  7. Press print the report.

For the Accountant & Taxes report:

  1. Open Quickbooks.
  2. Select Accountant & Taxes.
  3. In the Transaction Date drop-down select Last Tax Year.
  4. Click Run report.
  5. Press print the report.

Lastly for the Vendors & Payables report

  1. Launch Quickbooks
  2. Select Vendors & Payables.
  3. Go to 1099 Summary.
  4. Click Run report

To create the Accountants Copy of Books make sure to follow these steps:

  1. Launch Quickbooks.
  2. Go to File and select Accounts Copy.
  3. Click Save File.
  4. Next, go to Accounts Copy again and go to the Dividing Date control box.
  5. Choose the last day of the tax year.
  6. Click Next and Save In.
  7. Make sure to copy the QuickBooks data file to an external hard drive.

QuickBooks

You can easily fill your taxes using QuickBooks reports. It makes the filing taxes process so much simpler!

Check price Visit website

H&R Block – Best for HR departments

Ranked as one of the best software solutions to file business taxes, this popular tax software enables you to file your tax online easily. Users can easily import data from other tax software and have their custom tax files on the software.

H&R enables you to file your tax returns directly to the IRS.

Meanwhile, the software has a unique feature in which you can request to have your tax returns checked by a tax professional for free. In addition, H&R is very easy to install and use, with the program giving users relevant information on financial transactions like buying a car.

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However, the major downside of the software is the compatibility problems with printers and some regions are exempted from the software; hence, this may cause difficulty in filing tax returns for those regions.

Get H$R Block

TaxAct – File tax returns

TaxAct is an extensive tax filing software that offers many features. Some of its features include audit support and the ability to tax prep products for various businesses. TaxAct is particularly good for small businesses as it enables you to file one federal tax return.

The software is secure as your transactions are encrypted to prevent a leak of your personal details. Their customer support is topnotch with email and phone call options available with a specialist who assists with your complaints and requests.

However, the noted downside of this software is that you need to pay an additional fee to import data from the previous year’s tax returns.

Get TaxAct

Liberty Tax – Claim deductions and stock trades

This software to file business taxes is known for its excellent services rendered. With Liberty Tax, it is easy, accurate, and secure to fill taxes properly.

The software has an excellent user interface that enables users to choose which aspects of the task to return to work on.

Another unique feature is Liberty Tax does not incorporate complex steps. You can easily fill your tax in about 10 minutes with 100% assurance.  The software double-checks your tax returns and ensures your tax return is accurate.

In addition, Liberty Tax has excellent customer support with live chat, email, and social media options available. You can also meet one on one with customer support personnel in any of their 3000 branches worldwide.

However, the major snag of this software is that sometimes errors are not flagged out until the end of the tax filing process; this makes the customer start the process from the beginning.

Get Liberty Tax

TaxSlayer – Low-cost tax preparator

taxslayer tax filling software

If you are self-employed and want an affordable tax filling software, TaxSlayer is the recommended software for you. The software enables you to easily prepare and file your taxes on the go with your Windows PC or your mobile device.

TaxSlayer is easy to navigate as the features are easy to access with all the features arranged properly in the user menu. One major feature that makes the software an attractive option is the refund policy.  This guarantees you the maximum fund entitlement applicable to you.

However, this best software to file business taxes has limited features when compared to other tax filing software; although, this is understandable due to its cheap price.

Get Tax Slayer

eSmart Tax – Best for family usage

eSmart Tax Premium is an ideal tax filling software for small business owners. You can easily prepare your tax returns and fill your 1040 form properly with the program. The software is secure and encrypts your information to prevent your information from leaking.

In addition, eSmart Tax also enables you to import W-2 file information and gives you a review of your previous tax returns. With this software, you can check your credits and deductions in search of an ideal refund.

Meanwhile, this program does not have extensive features unlike Turbo Tax and H&R.

Get eSmart

These are some of the best tax filing software for small business owners. You must choose the program that best suits you in terms of pricing, time savings, features, and other factors.

If the software isn’t servicing your needs, there’s no use in paying more for it just because it’s popular. The greatest alternative for you is if all the capabilities are included in one piece of software and you don’t have to spend money on purchasing multiple pieces of software for various tasks.

If you wish to use software to its fullest potential after purchasing it, educate yourself on all of its functions. As a lack of information can have negative effects, it will prevent data loss in the future.

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Make sure to use the best accounting software to avoid any mistakes when calculating your taxes and expenses. We recommend you visit our Accounting and Tax section for other similar articles. 

If you have any experience using any of these best software to file business taxes we mentioned above, please leave a comment below.

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