Choosing a professional tax software is a difficult task as there are many choices available in the market. Whenever you think of buying new tax software, there are many features to consider, like the ease of use, data entry, document management, report generation, and a lot more.
You need to figure out the specific features you need for your tax process and to choose the tax software accordingly.
Nowadays, cloud-based tax software is becoming the new standard of the accounting industry. With cloud-based tax software, data security is the responsibility of the company hosting the data. Also, it saves time and money, gives the flexibility to work anytime anywhere, and improves collaboration between the employees.
This infographic compares the popular tax software in the market by using the data obtained from the survey by the Journal of Accountancy and Tax Adviser. It will help you to choose the best tax software for your business.
Let’s explore in detail.
Table of Contents
ATX is an easy-to-use software ideal for individual preparers and small firms. It has a huge library of around 6,000 tax compliance forms.
CCH Axcess Tax
CCH Axcess Tax software is best-suited for mid-sized and large full-service firms. It has an intuitive user-interface designed like Microsoft Office so that users are comfortable with navigation from the start.
CCH ProSystem fx Tax
CCH ProSystem fx is an accounting software solution, well-suited for all sizes of business. It allows users to use interview forms while entering tax data so that it is easy for users to enter information.
Drake software is designed for small and medium-sized accounting firms. It enables users to quickly review the returns and determine if the return is eligible for e-filing.
Lacerte tax software is professional tax software for small and mid-size financial practices. It provides an electronic checklist of documents and information to decrease the chances of error.
ProSeries is tax software for small and medium-sized businesses. It allows users to create interactive financial presentations for clients with appealing graphs, charts, and financial tables.
UltraTax CS is a tax software best-suited for large accounting firms. It has an alert system that warns users about potential problems or missing data.
GoSystem Tax RS
It is a software for medium-sized and large firms. It is the first software that offers web accessibility and offers users the ability to work both online and off-line.
TaxAct is software for consumers ranging from individuals looking for a way to file a simple federal return to self-employed business owners. It has a “what-if” feature to compare different tax plans for current and future years.
It is a software for small and medium-sized businesses. Users can completely customize the interface by adding shortcuts and links for quick access to maximize efficiency.
There is no perfect software for every situation. Every tax software has its positives and negatives attributes. The key to the success of the tax business is finding the right tax software that complements the business workstyle. It would be best if you must weigh the value of the tax software to find the best fit software for you.