Whether you are an independent tax professional or a CPA working in a large firm, you want to make sure you are using the best professional tax software available. You want software that meets your needs and, above all else, the needs of your clients. As a dedicated tax preparer taking the administrative and logistical burden off of taxpayers who simply don't have the time or means to carry it themselves, you want to have tax software that provides a high security and efficiency level. Tax preparation requires constantly keeping abreast of changing tax laws, which have become more difficult in the past two years with the effects of COVID-19. Last year, the federal and state governments have extended filing deadlines, mailed stimulus checks and other forms of aid, and allowed for deferred employer payroll taxes. The tax landscape has changed drastically, but the best tax software will always hold high value under the most volatile economic circumstances.
Drake Tax is generally known for being the tax software that offers the best value for tax professionals serving primarily mid-market clients with more complex tax circumstances and some small businesses. It is also known for providing several streamlined electronic filing features, including SecureFilePro. Let's take a look at why it remains one of the best choices for tax preparers.
Best Professional Tax Preparation Software For Mac
Drake Tax is consistently on the list for best tax software because of its ease of use, simple navigation, and highly-rated customer service. Some of its most attractive features include simplified data entry, automatic data flow from various federal and state returns, and automatic forms filing, just to name a few. Various tax-year analyses make Drake Tax a great choice for tax preparers. Features include:
ProSeries Professional is a popular and reliable tax preparation service software created by Intuit. It gives tax preparers the ability to transfer data from QuickBooks, also an Intuit product, to ProSeries Professional seamlessly. The ProSeries comes in two desktop-only versions, ProSeries Basic and ProSeries Professional. Here is a closer look at some of the best features from both.
ATX is a professional tax software by Wolters Kluwer. It has a vast and comprehensive tax form library with over 6,000 tax compliance forms and business returns, making it a great choice for small- to medium-sized businesses serving corporate and business clients.
TaxSlayer Pro is the professional version of the commercial product TaxSlayer. It is a great option for independent professional tax preparers and larger firms alike. Currently, TaxSlayer Pro has three plan options: Classic, Premium, and Web. Each edition offers business and individual tax preparation and filing options.
With so many tax preparation software products on the market, it can be a challenge to know which one is the best for you. Some tools are better than others. An independent tax professional or small business owner may be better suited to a different tax preparation software than a CPA working in a large corporate firm.
Like any product you'd buy, you want to Consider your budget, first and foremost. A premium plan may provide more features and forms, but it may not be the best option for you if it is over your budget. Consider what kinds of forms and features you will actually need. Write down a list of must-have forms and features. You may find that a basic software package will suit your needs.
With ever-changing tax laws and filing deadlines, a tax professional must have quick but efficient software that includes all the necessary forms and filing features. But pricing matters, too. Ultimately, the best tax software is the one that meets all your needs and helps you maintain the most crucial aspect of the job: customer satisfaction.
What's the best professional tax software for you? It's a simple question, and it's not at all easy to answer. Every tax preparer has a different standard for what is best for their business. Some tax pros are looking for a simple, basic tool to get the job done. Others want something with a lot of bells and whistles.
UltimateTax's team has been doing a comparative study on professional tax software for three years in a row. You will not find a more comprehensive breakdown of the features of the top software options on the market!
Our in-house team feels confident that the guide achieves a fair and measured comparison of tax preparation business software. If you feel that any information needs updating or correcting, click here to leave your comment. Your feedback as a preparer is welcome.
Our in-house team has done extensive research and hands-on testing on the tax software programs listed here. The team's collective insights have contributed to this comparison guide. In performing their analyses, the team members relied on a shared set of criteria for evaluating tax professional software, presented as follows:
Tax preparation is an established process that doesn't change that much from year to year. Electronic tax preparation tools don't display a great deal of variation from each other, either. They all accomplish the same functions, more or less. The differences lie more in ease of use, user experience design, gated features, and customer support. And pricing. The price differences between various software products can be significant.
Low-priced tax software options are aimed at new tax preparers, boutique agencies and cost-conscious purchasers. Mid-priced software products are pitched to mid-sized offices. Premium and enterprise editions cater to high-volume tax preparation businesses that serve corporate clientele.
But what about the product itself? UltimateTax gets good reviews on that, too. The company makes easy-to-use, feature-rich tax preparation software for both desktop and online platforms. UltimateTax gives tax preparers two modes for processing tax forms. One is data form entry mode, which simply presents a tax form to be filled out with information. The other is interview mode, which guides you through the process of completing a tax form with prompts and indicators.
UltimateTax Online 1040 is perfect for the on-the-go professional. You don't need to install anything. Access the online tax software from anywhere, file unlimited 1040 returns electronically, view real-time progress reports, and grant account access to as many as 10 users at once.
Summary: Drake offers packages that bundle together tax preparation software, office management tools, and (optionally) Drake accounting software. Note that in addition to each package, a subscriber still needs to purchase a Drake Tax 2020 software license to be able to e-file 2020 tax returns.
Drake Tax is your basic tax preparation software. It is designed to make the process of completing a return more efficient and streamlined. The software can automatically calculate a return as you fill out the data fields. You can set up shortcut keys and macros to speed up tax return data entry tasks.
Comparing TaxWise with UltimateTax shows that the tax software programs offer similar features: on-premise and online application options, form-entry and interview modes, interface customization, diagnostics, online tax preparation and bank product integration.
It's a little funny that a tax software product so simple and straightforward should offer all these complicated pricing, packaging and add-on options. TaxWise feels like it is stretching itself a bit far to accommodate many types of tax preparation businesses. Back in 2020, TaxWise offered only three desktop packages: TaxWise Pay-Per-Return, TaxWise ProFiling and TaxWise Power (the premium package). Now, there are four.
A number of help and support options are packaged into your TaxWise subscription. The CCH AnswerConnect Mini Package provides reference materials. It lets users access the U.S. Master Tax Guide and primary sources. TaxWise subscribers can also browse the TaxWise Online Education Video Library. All kinds of tutorial and training videos can be explored to expand users' understanding of the software and the tax preparation process.
CrossLink markets itself as a professional software solution for high-volume tax return preparation. It is available on desktop and online platforms. The flagship desktop version, CrossLink 1040, is designed for processing individual income tax returns.
CrossLink Business is available in a joint package with the 1040 desktop software. This professional tax solution works to streamline the process of calculating tax forms for your corporate clients. It is meant to be used by tax offices that handle high volumes of returns.
Intuit is a well-known company in the accounting world. It is best known for its QuickBooks software, a widely-used application among accounting offices. Intuit ProSeries includes a data transfer feature for QuickBooks offices. The question remains: does this feature set ProSeries apart from other professional tax software options?
ProSeries Professional is a tax preparation solution that includes support for 3,500 tax forms and schedules. It is available in four software packages, including Pay-Per-Return (which charges $49 per 1040/1040 NR filing and $46 per state return) and 1040 Complete (allowing unlimited 1040 returns but charging $49 per 1040 NR return and $46 per state return).
Intuit provides a cloud-based professional tax preparer software option. ProConnect Tax Online is accessible via any standard web browser. According to customer reviews on TrustRadius, ProConnect demonstrates accuracy and ease of use, but the software has a clunky interface and it is not a good fit for processing a high volume of returns.
Summary: TaxSlayer Pro Classic and Web software would be best suited for Form 1040 filing. For a more comprehensive corporate tax solution, you want to get TaxSlayer Pro Premium for desktop or the Corporate add-on for Web.
TaxSlayer also offers the Pro Web + Corporate package. TaxSlayer Pro Web alone works better for individual tax return filing. Getting the Corporate add-on will provide you with corporate tax return preparation software. Pricing is not stated. You need to call a sales rep to discuss your Pro Web + Corporate package and how it will be priced. 2ff7e9595c