Best Business Tax Software Shortlist
After examining dozens of platforms, here’s a shortlist of the best business tax software. I’ve analyzed each and provided a detailed summary so you can find the right fit for your business:
Filing your taxes has never been easy or pleasant. The penalty for filing your taxes wrong can be severe and hiring a specialist to do your taxes can be expensive, making tax filing particularly stressful for business owners.
Luckily, there are now tax preparation software solutions that make the tax filing process easier. For this article, I’ve prepared a list of the best business tax software available today. My goal is to help you file your own taxes with ease while being confident in your filing accuracy.
What is Business Tax Software?
Business tax software systems are platforms that help business owners and managers simplify their tax filing. They enable you to calculate your taxes, file your returns online, and store all the records you need for tax purposes, both for your employees and your business. In short, they represent a solution for all your tax-related needs.
Overviews of the 10 Best Business Tax Software
Here’s a short description of each business tax software that made it into my top 10 list, including a screenshot, noteworthy features, pros and cons, and pricing details:
Insightsoftware
Best for mid-sized busineses
InsightSoftware is a business tax management solution that enables mid-sized businesses to navigate complex tax regulations and simplify their filing process with automation.
Why I picked InsightSoftware: I selected InsightSoftware because it helps mid-sized businesses who have complex tax needs automate their tax processes while reducing the risk of an audit. The platform collects data from third-party apps and aggregates it to help you uncover insights and make strategic decisions regarding your financial situation.
InsightSoftware Standout Features and Integrations:
Standout features include tax calculation, reporting, audit support, a tax repository, automated workflows, and a self-service portal. I like the platform’s tax calculation feature because it’s fast and allows you to get accurate current and deferred calculations on a state-by-state basis.
Integrations include dozens of business tools, including Oracle ERP Cloud, Oracle PeopleSoft, Microsoft 365 Business Central, SAP Business One, NetSuite, Deltek Vision Cloud, Epicor CMS, Infor CloudSuite Financials, Sage, and QuickBooks Online.
Pros
- Enables you to build custom report templates
- Flexible, customizable solution
- Consolidates all your tax information, simplifying your financial reporting
Cons
- The platform can lag at times when importing large sets of data
- Limited automations for income tax credit and net operating loss calculations
Avalara
Best for e-commerce businesses
Avalara is a business tax platform that helps North American e-commerce businesses report their inventory and file their taxes.
Why I picked Avalara: Avalara made my list thanks to its native integrations with e-commerce platforms and marketplaces. The software pulls data directly from your e-commerce tool and uses it to populate your tax forms, making it easy to calculate your tax rates according to your local jurisdiction.
Avalara Standout Features and Integrations:
Standout features include e-invoicing, business profiles, consolidated reports, document management, tax return filing, a knowledge base, and custom alerts. I like Avalara’s custom alert feature because it notifies you when you have to take action in different tax jurisdictions, making it one of the best tax software options for businesses operating in multiple states or provinces.
Integrations include 1,200+ integration partnerships with e-commerce platforms, payroll solutions, payment tools, and CRMs, such as Sage, Magento, NetSuite, Microsoft Dynamics, Shopify Plus, Stripe Invoicing, Zuora, QuickBooks, WooCommerce, Amazon Seller, and Salesforce.
Pros
- Great selection of tutorials and training materials for e-commerce businesses
- Helps you submit accurate state and federal returns
- Search feature enables you to find the right information in the platform’s FAQs
Cons
- Can be more expensive than other tax software programs for small businesses
- Novice users can find the platform overwhelming
UltraTax CS
Best for complex tax scenarios
UltraTax CS is a professional tax software that helps you handle complex tax scenarios with accuracy and efficiency.
Why I picked UltraTax CS: I selected UltraTax CS because of its powerful automation features. The solution takes care of your data entry and tax calculations with minimal supervision, saving you time and reducing the probability of calculation errors for complex tax scenarios. The platform also allows you to link personal tax returns and business entities and pulls from previous returns to complete your tax forms.
UltraTax CS Standout Features and Integrations:
Standout features include document management, data sharing, e-signatures, a client organizer, a web organizer, a fixed asset manager, planner CS, and state apportionment. I like the platform’s document management feature because it allows you to store your documents in customizable folders for easy access. You can also scan paper documents and import them into UltraTax CS.
Integrations include payroll and accounting solutions, such as SmartVault, TaxDome, SafeSend, Sagenext, Workpapers CS, Verito Technologies, CS Professional Suite, and Onvio.
Pros
- Powerful diagnostic feature
- Helps you organize your documents and files
- Accurate search feature
Cons
- New users may find the interface confusing
- Large state returns may slow down the app
TaxAct
Best for contextual help
TaxAct is a business tax software that enables you to file your taxes on your own while providing contextual help for each step of the filing process.
Why I picked TaxAct: I selected TaxAct for my top 10 list because it gives you helpful tips on how to calculate and file your taxes correctly with the IRS. The software offers a great user experience and even comes with a mobile app, allowing you to file your taxes using only your mobile device.
TaxAct Standout Features and Integrations:
Standout features include e-filing, tax deductions and credits calculations, unlimited free tax expert support, document import, and a mobile app. I like TaxAct’s mobile app because it allows you to upload documents by taking pictures with your phone’s camera.
Integrations include several payroll solutions, such as QuickBooks, Sage Online, Xero, TaxDome, and Wave.
Pros
- Unlimited support
- Easy document uploading process
- Allows you to import your tax documents from other providers to minimize filing errors
Cons
- The knowledge base’s search function could be more accurate
- Filers can’t downgrade to a cheaper plan once they start filing their tax returns
Oracle Cloud EPM Tax Reporting
Best for automation
Oracle Cloud EPM Tax Reporting is a tax prep solution that enables you to automate and speed up your business reporting process.
Why I picked Oracle Cloud EPM Tax Reporting: I chose Oracle Cloud EPM Tax Reporting because it can help you automate several tasks involved in tax reporting, such as data extraction, tax calculation, and tax preparation. The solution reads your tax return data, auto-populates your forms, and calculates your taxes. The platform relies on a vast library of tax calculation rules to ensure accuracy for every tax jurisdiction so you can avoid fines or penalties.
Oracle Cloud EPM Tax Reporting Standout Features and Integrations:
Standout features include country-by-country reporting, tax provision calculations, automated imports, research and development (R&D) credit calculations, and task monitoring. I like Oracle Cloud EPM Tax Reporting’s task monitoring feature because it allows you to assign task owners, due dates, and statuses for every procedure, making it easy to coordinate your team.
Integrations include other Oracle business apps, such as Oracle Cloud Financials, Oracle Cloud Planning, Oracle Cloud Tax Engine, Oracle Cloud Data Integrator, and third-party apps like SAP BusinessObjects, Microsoft Power BI, Qlik Sense, and TIBCO Spotfire
Pros
- Exports tax provisions and trial balances to your compliance software
- Automatically imports your tax return information for increased accuracy
- Easy to integrate with tax compliance software
Cons
- No option to create custom rules for calculations
- Has a learning curve
Intuit ProFile Tax
Best for community support
Intuit ProFile Tax is a business tax software that allows Canadian business owners to handle their federal and state filings according to current tax laws.
Why I picked Intuit ProFile Tax: I selected Intuit ProFile Tax because its vast database of tax forms makes it ideal for Canadian entrepreneurs. The software offers the right form for every tax jurisdiction in Canada, including Québec.
Intuit ProFile Tax offers a lot of training materials, so business owners should be able to prepare for tax season on their own. However, if taxpayers encounter any problems, they can quickly find solutions by reaching out to the support department or searching for the topic on the platform’s forum.
Intuit ProFile Tax Standout Features and Integrations:
Standout features include a knowledge base, form auto-filling, e-filing, email templates, document import, cloud backups, and an automated real-time auditor. I’m a fan of the platform’s email templates because they help you save time when preparing common communications, such as engagement letters, payment emails, or client invoices.
Integrations include QuickBooks, Caseware, and QBOA.
Pros
- Auto-populating form lines from the CRA’s site can help you save time
- Proactive support
- Rich tutorial database
Cons
- No option to pay for just one filing
- Interface looks a bit dated
Vertex
Best for lease tax management
Vertex is a business tax solution that helps organizations who lease vehicles or equipment determine and file their taxes.
Why I picked Vertex: Lessors face complex tax management, and Vertex helps with that. The platform allows you to control and manage your lease transactions, helping you determine your taxes with 150,000+ lease-specific rules and tax calculations. The software also helps you automate taxation on lease transactions, regardless of location.
Vertex Standout Features and Integrations:
Standout features include audit trail, consumer use tax, a document import and management feature, compliance management, and exemption management. These features work in tandem to help you ensure you’re tax filings are always compliant, regardless if you’re operating a brick-and-mortar, online only, or hybrid business.
Integrations include e-commerce platforms, marketplaces, accounting, and payroll solutions, such as Adobe Commerce, BigCommerce, Aria, Infor, Microsoft Dynamics 365, NetSuite, Sage, Salesforce, and Spryker.
Pros
- Good at interpreting imported spreadsheets
- Helpful customer support
- Simple and straightforward user interface
Cons
- Customizing your reports can be time consuming
- Reports could be more detailed
TaxSlayer
Best for independent contractors
TaxSlayer is a business tax software that enables self-employed individuals to find what deductions and credits they can qualify for, ensuring that you file your tax return correctly.
Why I picked TaxSlayer: TaxSlayer made my list thanks to its robust solution for freelancers. The platform guides you through the process of entering your business income and expenses so you can get more deductions. And if you can’t wrap your head around the process, the software provides unlimited email, chat, and phone support.
TaxSlayer Standout Features and Integrations:
Standout features include audit defense, e-filing, W-2s, 1099s, a knowledge base, the ability to import previous state returns, and self-employed tax consultation services. I like TaxSlayer’s automated reminders because they help you keep track of your tax payments so you can avoid penalty fees.
Integrations include various payroll and CRM solutions, such as QuickBooks Online, TaxDome, Xero, TaxJar, and Zendesk.
Pros
- Maximum refund guarantee
- Tax refund tracking helps you determine when to expect your refund
- Mobile app allows you to file your taxes from anywhere
Cons
- Using the client portal at its full potential can be challenging
- Lacks a donation calculator
Intuit TurboTax
Best for user experience
Intuit TurboTax is a popular business tax prep provider that enables you to file your taxes on your own or with the help of an expert.
Why I picked Intuit TurboTax: Intuit TurboTax made my top 10 list thanks to the user experience it offers. Filing taxes with TurboTax is like having an in-depth interview with a tax specialist. The software creates a step-by-step journey that allows you to upload documents so you can report your business income, calculate your taxes, write off business expenses, and store your federal or state tax returns.
Intuit TurboTax Standout Features and Integrations:
Standout features include document importing, crypto support, a donation calculator, rental property tax calculations, on-demand screen sharing, and chat or phone support. I like the platform’s live assistant feature because it enables you to connect with an expert and determine what deductions and credits your business is eligible for.
Intuit TurboTax integrates with dozens of payroll and HR software solutions, including ADP, Ceridian Dayforce, Paycom, Gatekeeper, PayrollMaxx, Gusto, QuickBooks, Paycor, Paylocity, and UKG Pro.
Pros
- Great customer support
- Clean and straightforward interface
- Very easy to use
Cons
- Free version can’t handle itemized deductions
- Freemium version available only for simple tax returns
ProSeries Tax
Best for time-saving features
ProSeries Tax is a business tax software that helps North American business owners save time when filing their taxes with dedicated features.
Why I picked ProSeries Tax: ProSeries Tax made it into my top 10 list thanks to its time-saving features, such as quick entry sheets, a keyword-based search feature, automated data imports, and tax return input guidance. The solution is friendly toward first-time users and offers a guided workflow you can rely on to file your federal and state returns.
ProSeries Tax Standout Features and Integrations:
Standout features include a personalized training portal, e-filing, automated imports, software webinars, guided onboarding, a knowledge base, and community advice. I like the platform’s personalized training portal because it allows you to access tutorials and videos tailored to your needs and skill level.
Integrations include e-signing software and payroll solutions, such as DocuSign, QuickBooks Online Payroll, ADP Workforce Now, Gusto, SurePayroll, and Paychex Flex.
Pros
- Helpful tool for tax professionals managing multiple clients
- Interface is easy to use and navigate
- Comprehensive diagnostics and error checking tools
Cons
- The interface may lag at times
- Limited customization options for reports
The 10 Best Business Tax Software Summary
This comparison chart summarizes basic details about each of my top business tax software selections. You can view pricing details and the availability of free trials or demos side-by-side to help you find the best software for your budget and business needs.
Tool | Free Option | Price | ||
---|---|---|---|---|
1 | Insightsoftware Best for mid-sized busineses | Free demo available | Pricing upon request | Visit Website |
2 | Avalara Best for e-commerce businesses | Free demo available | From $19/month | Visit Website |
3 | UltraTax CS Best for complex tax scenarios | Free demo available | Pricing upon request | Visit Website |
4 | TaxAct Best for contextual help | Free plan available | From $99.95/filing | Visit Website |
5 | Oracle Cloud EPM Tax Reporting Best for automation | Free demo available | Pricing upon request | Visit Website |
6 | Intuit ProFile Tax Best for community support | Free trial available | From $445/unlimited filings | Visit Website |
7 | Vertex Best for lease tax management | Free demo available | Pricing upon request | Visit Website |
8 | TaxSlayer Best for independent contractors | Free plan available | From $34.95/filing | Visit Website |
9 | Intuit TurboTax Best for user experience | Free plan available | From $99/filing | Visit Website |
10 | ProSeries Tax Best for time-saving features | Free trial available | From $389/year | Visit Website |
Other Options
Here are some other great business tax solutions I came across during my research. While these didn’t make it into my top 10 list, you should still check them out:
- H&R Block
Best for Canadian small business owners
- QuickBooks Self-Employed
Best for built-in reports
- ProTax by QuickBooks Online Accountant
Best for year-end tax prep for Canadian businesses
- TurboTax Business
Best for partnerships, multi-member LLC’s, trusts and estates
- TaxCycle
Best for personalized support
- Drake Software
Best for ease of use
- FreeTaxUSA
Best free tax software
Selection Criteria for Business Tax Software
Here’s a short summary of the main selection and evaluation criteria I used to develop my list of the best business tax software for this article:
Core Functionalities
All the solutions I included on my list will help you calculate and file your business taxes. To achieve that, here are the core functionalities I initially checked for:
- Tax calculations: The software should help you calculate your income and expenses
- Tax filing: The platform should enable you to file your tax forms with the state or federal authorities
Key Features
Business tax software offers a lot of different features, but the following ones are crucial:
- Accuracy guarantee: Top-rated solutions guarantee the accuracy of their filings, so they develop step-by-step guides so you can file your returns without errors
- Cloud-based access: Being able to access the tax software from anywhere, using any device, can make it easier to keep track of your business expenses
- Data imports: Filling up tax reports can be time-consuming, so solutions that automatically import and fill the tax information in for you can be huge time savers
Usability
While usability is important for every software, it’s especially important for tax prep software because the tax preparation process is complicated enough without adding a layer of technical difficulty. I only included tools that offered easy to use DIY (do-it-yourself) solutions on my list.
Expert Support
Even small tax errors can lead to severe penalties, so you should be able to receive expert help when needed. The tools I picked offer proper customer support.
Software Integrations
It’s essential to use a tool that communicates with other solutions in your app ecosystem, such as your payroll or invoicing tools so you won’t have to waste time entering that data manually. Integrations with expense reporting tools are also a welcome addition too.
Pricing
The pricing of business tax software varies wildly, but I picked solutions that charge you fairly based on what they offer.
People Also Ask
Want to find out more about business tax software? Here are some answers to common questions readers have on this topic.
What are the benefits of using business tax software?
What is the best tax software for a small business?
What type of business expenses should I be tracking as a sole proprietor?
Other Finance Software Reviews
Interested in managing your organization’s finances? Here are some other valuable resources from People Managing People you may be interested in:
- Expense Reporting Software for Business
- Payroll Software
- Payroll Companies to Run Your Payroll Process
- Payroll Software for Small Businesses
- Payroll Services for Small Businesses
- Free Payroll Software for Tight Budgets
Final Thoughts
Filing your taxes accurately and on time can mean the difference between a good business year and a lousy one. As Nellie Akalp, CEO and founder of CorpNet, said:
”Filing your business taxes on time is not only a legal obligation, but also a smart financial move. It can help you avoid penalties, interest, and audits, as well as take advantage of deductions, credits, and refunds that can lower your tax bill and boost your cash flow.”
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