What Are The Best 5 Tax Software In 2022?
Satya Nadella once quoted, “This is a software-powered world.” Today, when technology stands as the face of this earth, one can eliminate manual efforts, and if the purpose is as complex as calculating taxes, return filing, and keeping them in order, then it asks for some technical framework, i.e. tax software.
If you are a citizen of the US, you must be aware of the annual return tax processes that a citizen lawfully needs to file to the Internal Revenue Service (IRS). However, doing so manually takes ages to reach perfection because it includes manhandled calculations, offline forms, and manual tax filings. So, the best way to do your taxes is through Tax Software.
So many Tax Software have come into the market ever since the notion of a software-oriented business spread. Listing out the best Tax application proves to be a hassle as there are too many options. Hence, this blog will talk about the Best 5 Tax Software in 2022. If you’re also looking for a curated list of software for your taxes, you should look at the following section.
We understand that handling taxes and related stuff alone is sufficiently hard, so to help save you time, we did all the software-related research in your place. Here we have come up with the best 5 Tax Software that you can look up to and choose wisely as each software is user-oriented.
Table of Contents:
|
1. TaxWise Tax Software
TaxWise Tax Software is one of those products offered by Wolters Kluwer that perfectly suits all small to midsize businesses. It has the right resources that are needed to maximize the business revenue, so it is one of the most reliable software for filing taxes. It is known as one of the leading Tax Software that unfolds handy features. The US-based citizens can easily file more tax returns in less time using TaxWise.
TaxWise comes with various features, such as electronic signatures, that focus on being a Virtual Tax Office. When you browse through its official website, you will see options like TaxWise Online, Mobile & Desktop representing its user specifications. However, the features get updated to different versions of TaxWise like TaxWise Online 2019 was updated with security features whereas TaxWise Online 2020 added a mobile feature.
The price suggested for TaxWise Online & TaxWise Desktop is $2,575 and $2,877 respectively.
2. Drake Tax Software
Citizens who are looking for a complete tax solution should look forward to the Drake Tax Software. Drake Tax supports more than 6,000 tax forms which include USA Tax Forms 1040, 1041, 1065, 1120, 990, 990-PF, 1120-H, etc. This software even supports tax forms in Spanish such as W-4, W-7, 2350, etc. It has an electronic filling that supports state tax forms and reduces the risk of errors.
Drake offers an e-signature that supports an easy client signature on the tax returns. This ensures smooth and timeless tax return processing. Drake comes with a feature called tax-planning that allows its users to create and tackle tax scenarios.
Drake tax software cost differ according to the forms.The pricing offered by Drake for Form 1040, 1040-NR Returns: $1,675 (Power Bundle), $1,525 (Unlimited), $345- 10 included ($29.99 each) (Pay-per-return) and 1120, 1120-S, 1120-H, 1065, 1041, 990, 706 Returns: Power Bundle $1,675 (unlimited), Unlimited $1,525 (unlimited), Pay-per-return $44.95 each.
3. Lacerte Tax Software
All the USA-based tax practitioners use Intuit-developed Lacerte Tax Software which simplifies the tax filing processes. Lacerte is the perfect blend of powerful utilities, tax packages, and great e-filling features. Individuals should turn up to Lacerte if they are looking for a smooth tax filing experience.
Lacerte always stays accurate when calculating the taxes, and the interface is easy to understand and use. It comprises more than 5,700 tax forms that help manage several clients altogether. This feature makes it a multi-tasking tax application. It comes with various beneficial features such as e-signature, e-organizer, e-filling, etc.
The entry-level pricing offered by Lacerte is $400/year. Lacerte also provides a free trial in case users doubt its functionality.
4. Ultra Tax CS
Ultra Tax CS Tax Software proves to be a professional software for all the tax preparers. If you want to boost your tax filing process and reduce human errors, Ultra Tax CS is for you. It does not only reduce the processing time but helps you do more tax returns. This cloud-based tax application helps manage the documents with multi-functioning flexibility.
Ultra Tax offers various training options via documents, live sessions, and webinars. Users are supposed to subscribe to Ultra Tax to experience advanced benefits. Ultra Tax CS is the best for completing complicated tax returns in less time. The interface is well-structured which users find convenient to use.
5. ProSeriesTax Software
Another software developed and marketed by Intuit is the ProSeries Tax Software. This software is also best suited for every small to midsize business. The ProSeries offers various plans, such as basic and advanced. The users will not be able to run the Basic Plan on the cloud if they do not pay an additional fee to the software. ProSeries helps file the tax returns forms such as 1040 online with various other features.
It helps ease the tax form preparations and return filing by guiding the entire process. It is full of advanced features such as real-time notifications, e-signature, etc. An updated version of the ProSeries made it possible to create tax scenarios and undo them as per the user’s convenience. It contains an e-filling feature that automatically stops whenever it detects any change.
The prices for ProSeries Basic for form 1040 offered by ProSeries are Basic 20: $519, Basic 50: $799, and Basic Unlimited: $1,259 (all per year), and on the other hand, the prices for ProSeries Professional as per PrpSeries are Pay-per-return: $369, 1040 complete: $1,999, Choice 200 and Power Tax Library: call at 855-428-4847 for pricing.
Final Word
For many people, doing taxes is no less than a yearly chore that needs to get done either willingly or routinely as it interests nobody. Doing taxes manually, in such a case, which practically is prone to human errors, is even more chaotic and time-consuming. This is where you should adopt Tax Software. These applications are built to help you simplify the return tax processes with no possibility of errors. Every Tax application is meant to ease the taxation process but it is still important to list out the best one that is suitable for your business and income. We have mentioned all the best Tax Software in terms of their functionality.
If you’re someone who is doing taxes for a long time, you must know the technicalities it involves. All 5 aforementioned Tax Software are meant to help you understand and choose the best software for your taxes accordingly. And if you face any issues while working on one, you can contact us anytime. We are always here to support you.
