Owning a small business demands constant supervision. So, when it comes time to prepare tax forms and file tax returns in addition to everything else, most small business owners like us shake their heads and take a big step back. And, rightly so.
Hiring an accountant or tax professional is one way to tackle the issue, but most of us simply don’t have the business budget to cover the cost. To find a better solution, we began to search for tax software specifically created for small businesses.
Our research led us to several software options, which we’ve defined further by features, adaptability, pricing, customer comments and customer service. We’ve included important benefits and our overall reviews for each software.
After searching small business tax software, we’ve selected those that have specific features you’ll want and need, such as:
- 100% guaranteed accurate tax calculation
- Tax audit assistance or representation
- Customized dashboards for ease-of-use
- Auto-calculated credits and deductions
- Flexible mobile or desktop apps
- Convenient risk management tools
- Online, live chat or phone customer assistance
Best Tax Software Programs for Small Businesses by Comparison
Let’s first take a brief look at the best tax software, then we’ll offer an in-depth review of each to help you find the perfect fit for your company.
|1. TaxSlayer||Cloud-based Software & Mobile App||Our Rating: 4.8/5|
|2. KeeperTax||Simplified Business Software & App||Our Rating: 4.7/5|
|3. TaxAct||Audit Defense & Live Customer Assistance||Our Ratnig: 4.6/5|
|4. H&R Block||Small Business Support & Tax Resources||Our Rating: 4.5/5|
|5. TurboTax||New Business Guidance & Guaranteed Tax Savings||Our Rating: 4.4/5|
|6. E-File.com||Fast Tax Filing, Software Assistance & Value-Priced||Our Rating: 4.3/5|
There were over 33M small businesses in 2022 in the USA (SBA), which together account for 99.9% of all businesses. Around 625,000 new small businesses are started every year.
With these compelling statistics in mind, it is notable that tax software for small businesses is evolving in specificity and features to address the constant growth and differentiation of small businesses in the USA. What does this mean for you? Simply put, less time spent struggling with a myriad of tax forms equals more time available to grow your business.
How did we choose the best tax software for small businesses? As business owners, we knew we wanted to find the tax software that would cover all the basics:
- Accurate calculations
- Tax resources and tools
- All necessary tax forms
- Excellent customer service and reviews
In addition to the basics, we searched for software features, such as:
- Auto-file for tax returns
- Reconciliation of tax credits and deductions
- Audit assistance or representation
- Software updates that conform to tax reform changes
- Mobile or desktop app for ease of use
Finally, we considered the communication we would want to receive after filing tax returns. This led us to software that produced:
- Tax returns supported by detailed communication
- Tax returns with suggestions for future improvements
- Tax form and resource libraries
Here are our ratings for the best tax software for small businesses in 2023:
|Our Rating||Tax Software Provider|
|4.8/5||TaxSlayer (Highly Recommend)|
Best Online Tax Software Programs for Small Business In Detail
While we recommend any software on this list, we invite you to explore each to determine which specific features best fit your own business needs.
TaxSlayer is positioned as “highly recommended” due to the key features offered and the reasonable pricing of various tax software packages. TaxSlayer offers a wide variety of tax forms and tax tables, along with tools to assist small business owners in calculating future business taxes, credits and deductions.
The TaxSlayer mobile app offers a customized dashboard and allows business owners to quickly and easily file returns or perform several necessary functions using the app. Online chat and live support are offered via app, as well, so the answers to questions are always nearby.
Business owners can gain several services and benefits with TaxSlayer, including:
Key Features & Benefits of TaxSlayer
- Multiple software tiers offered at affordable rates
- Business credit and deduction calculations
- Fast-fill forms
- Mobile app (premium packages)
- Tax tools and resources
- Cloud-based tax preparation and tax return repository
- IRS audit assist (3-year coverage with premium package)
- “Ask a Pro” live chat with accountant
- Unlimited customer assistance (premium package)
Pricing & Packages
There are multiple options for pricing and software packages, depending on which features you’ll need in your business entity:
- Free package:
- Federal 1040 forms
- State forms
- Federal and state forms
- All schedules
- Deduction calculations
- Credit adjustments
- All income types
All features of the Classic package, plus:
- Live chat + skip-the-line priority + phone support
- 100% accuracy guarantee
- IRS audit assist (3-year protection)
All features of premium package, plus:
- 1099 and freelance business forms and returns
- Maximum work deductions
- Quarterly tax payment reminders
- Guide to self-employment taxes
- Advice online or by phone from a tax professional
- Unlimited tax audit assistance for businesses
TaxSlayer software not only performs to expectations in calculating and filing of tax forms and returns for small businesses; it also “slays” the demand in time and energy that formerly fell onto the shoulders of the small business owner.
2. Keeper Tax
Created specifically to address tax filing for 1099 and freelance business owners, Keeper Tax offers exceptional app features and superior customer service. When linked to a financial account, the mobile app calculates your deductions, checks out your credits and e-files your returns.
Keeper Tax eliminates the need to store business receipts and reduces the amount of time you’ll spend examining and calculating your expenditures. The software is personalized to your spending history and your business tax returns are supported by accountants. If needed, Keeper Tax also provides audit protection.
Key Features & Benefits of Keeper Tax
- Simple, personalized mobile app
- Supports 1099 & freelance business income
- Bank transactions-to-app connection supports tax forms and returns
- Auto-search for business tax credits and deductions
- E-file returns from mobile app
- Multiple business forms and calculators
- Accountant support
- Audit protection
Pricing & Packages
In keeping with the company’s motto of “keeping things simple”, Keeper Tax offers two options for pricing:
- Simple Tax Return (personal income – no business income) $99
- Tax Return with Business Income $168
Keeper Tax is an excellent software choice for the individual with 1099 or freelance business income who values speed and efficiency in tax preparation. With auto-calculated credits and income deductions based on bank account transactions, there is little need for time spent poring over business receipts. Keeper Tax offers returns with suggested improvements for the future and “keeps” the entire tax-filing process truly simplified.
TaxAct scored highly in our review of the best tax software for small businesses. The features of TaxAct are comprehensive and the customer service offered adds to the attractiveness of this software. Pricing is formed in several tiers, allowing business owners to choose the option that works best for their own set of circumstances and legal entity.
One of the nicest features of TaxAct is that of “Xpert Assist”. This customer-focused feature offers a layer of comfort for business owners who have questions that need answers. Offering the advice and counsel of expert advisors makes this software all the more attractive for users.
Key Features & Benefits of TaxAct
- Business tax forms
- Quarterly reminders for tax payments due
- Tax tools & business calculators
- “Xpert Assist” customer service
- 1099 & self-employment income
- Tax-exempt organizations
- E-file concierge services
- Audit defense, as needed
- Auto-calculations for credits and deductions
Pricing & Packages
- federal and state income tax returns (1040)
- Earned Income Credit calculation
- Transfer funds
- E-File concierge
- Audit defense
- Investment calculations + forms
- Foreign bank account tax reconciliation
- Land and developed property tax reconciliation
4 Self-employed $64.95 (incl Free +Deluxe +Premier):
- Unlimited advice and assistance
- Stock buy/sell tax reconciliation
- Foreign business income calculation
- K-1 forms for all stakeholders
- Health Savings Account deductions
- Depreciation calculator
If you are a business owner who would like a thorough review of your business for tax purposes, TaxAct has a variety of tax software options you’ll appreciate and utilize again and again. TaxAct is one of the few software we found that assists with foreign business income and the calculations that go with it.
4. H&R Block
In 1955, a small business titled H&R Block began a tax preparation and filing service for consumers. Almost 70 years later, the company, now franchised around the country, is well-established as a household name when it comes to reliable tax preparation and filing for consumers and businesses. For small businesses, this means there is stability and a historical background behind the popular tax software recently offered.
The tax software by H&R Block is geared to business owners and is well-supported by numerous tax resources. The features are also beneficial for those who like to store records and create backup tax returns. Check out the following features and benefits of the tax software from H&R Block.
Key Features & Benefits of H&R Block
- Tax audit support
- E-file tax return support
- Small business blog
- Audit and tax notice support
- 1099 & self-employment
- 100% accuracy guarantee
- Tax returns & filings for all legal entities
- Easy & accurate tax forms
- Free self-employment tips & tools
Pricing & Packages
- Basic – Free federal (state at extra charge)
- 1040 forms for simple filing: seniors, personal taxes
- 1040 forms-personal taxes
- Personal investments
- Deductions maximized
- All personal tax forms; E-file assistance
- Rental property owner forms + depreciation
- Self-employed tax forms and returns
- Credit & deduction calculations
- Tax classification assist
- Non-profit returns
- Payroll & employer forms (940s, W-2, 1099)
- Audit & tax notice support
- Accuracy double-check
Although the historical focus of H&R Block has been on personal income tax preparation and returns, the rules have changed for this long-time champion of tax preparation.
Augmented Intelligence developed by IBM is now utilized and the premium and business software package offers forms and features beyond most others. This company is recommended for business owners who want the surety of historical excellence combined with the convenience of tomorrow’s technology.
TurboTax software connects small business tax preparation, filing, and resources with an easy-to-use configuration. One of the best features of TurboTax is that, because of compatibility with QuickBooks, financials and account information can be calculated and results imported directly onto tax forms.
The integration of multiple features in TurboTax software for business comes at a higher price point than other software; however, the features within may encourage your purchase, simply because all the bases are covered within this package.
Key Features & Benefits of TurboTax
- Imports financials from QuickBooks
- Calculates business credits & deductions
- Prior year returns
- New business guidance
- Unlimited tax forms and schedules
- Tax returns for multiple businesses
- K-1 electronically filled out and filed
- Asset depreciation calculated
- Error double-checks
- Tax returns transferred from federal to state forms
- Online 24-hour support
- Maximum tax savings guaranteed
Pricing & Packages
TurboTax Business package – $180.
TurboTax software is a unique and comprehensive small business software package that includes everything needed for small business owners. Although the pricing is higher than other software on the market, the benefits and features may be to your monetary benefit if they fit your business needs. New business owners will especially appreciate the new business guidance offered within this software.
While most of the software packages found at E-File.com are as unpretentious as this company’s name, there is one software package created for small businesses that is well worth your consideration. The suggestion at E-File.com is to start with the “Free Basic” level and the software will automatically determine which level of services you need, based on the initial input you offer.
Key Benefits & Features of e-file.com (Premier)
- Transfer files from federal to state returns
- Credits and deductions calculated automatically
- Online and phone tax support
- Guaranteed accuracy
- Tax refund assistance
- IRS audit assistance
- User data and privacy protection
Pricing & Packages
- Free Basic: no-cost federal filing
- 1040 forms
- Itemized deductions calculated
- E-file included
- Online support
- Retirement savings tax credit
- Deductions maximized
- Investment income calculated
- All standard credits and deductions calculated
- Earned Income Credit maximized
- Investment income
- Business deductions
- Business credits
- Self-employment income
- Rental income
- K-1 shareholder form
The features of the Premium Business software offers significant flexibility, in that personal and business forms and returns can be prepared utilizing one software package. As business owners, price and value need to consistently meet where good sense and reality converge. The E-File.com option in the Premium Business software package may be exactly what you’re looking for.
In these reviews for the best tax software for small business, you’ve found several choices and unique features within those choices for the software that will integrate successfully into your own business.
Whether you opt for a full software package with multiple features and benefits, or you choose a simple mobile app for your business tax forms, calculations and returns, we know that one of these software choices will hold the key to the tax preparation needed to lead your business forward in the years to come.
Wishing you the best success!