Recent statistics suggest that 41% of American small business owners would rather handle their own finance and accounting processes, including using tax prep software. Further, 20% of small business owners prefer to hire an employee to handle the finance and accounting issues.
Of these companies, many like to know what the best tax software for small business is.
If this is your first year filing small business taxes, or you looking to make changes this year to ease what can be a complex process, then keep reading. We want to tell you about the best tax software for 2022.
Let’s hit the highlights!
TurboTax Self-Employed
This is the best tax software for small business overall, and it comes with a mobile app for convenience. It gives small businesses step-by-step guidance that is easy to follow in a Q&A format. They guarantee accuracy and the maximum refund.
One downside is that this tax prep software costs more than others on the market. There are plans with “live expert assistance” that add more cost, too.
However, with TurboTax Live, you get on-demand advice along with a CPA or tax expert who will give your taxes a final review.
TurboTax Online for Crypto
TurboTax has even become an authority on crypto taxes. For the best crypto tax software, TurboTax boasts comprehensive import coverage, which includes the top 15 exchanges.
H&R Block
This is a runner-up to TurboTax. Similar to TurboTax, they have a mobile app and they have various cost levels based on the plan you select. With an Online Assist plan, you get unlimited help with video support or on-demand chat.
While it costs extra, you can speak with a tax expert with ten years of experience on average. Plus, they have over 11,000 physical locations if you are more comfortable meeting in person.
The H&R Block guarantee is that they will give you the maximum refund or they will refund your fees for their services. They guarantee audit support too.
Whichever software you choose, as a small business owner, ask the software provider how to claim ERC credit or click here to learn more.
FreeTaxUSA
If you want something for free, this is the best tax software. Just keep in mind that the federal filing is free, but the state filing is $12.95. Also, they cannot import W-2s, you must enter them manually.
There are plans you could pay for, like the Deluxe edition, which comes with audit defense.
Best Tax Software for Small Business
These are our top three picks, however, there are more tax prep software providers to choose from. When selecting the best tax software for small business, make sure the provider you select guarantees the maximum return while also providing 100% accuracy. Not only that, but you also want audit support too.
This will help you make the right choice for the best tax software in 2022. For more money saving advice and financial protection of your small business, do not bounce! We have a lot more articles like this to help you thrive.
