Streamline your tax season with the right tools! Explore the top 10 tax software solutions that made tax preparation easier, faster, and more accurate in 2020. Ideal for accounting firms and tax professionals looking to enhance efficiency and reduce errors.
Top 10 Tax Software for Smoother Tax Preparation Services
Doing taxes is always a dreadful job because there are so many different calculations and rules that need
to be taken care of. Even for professionals , tax preparation services are a pretty daunting task to prepare
the returns of every client with utmost perfection.
However, with the digitalization of accounting services, there is an array of software and apps available in
the market that can help out CPAs in the preparation of taxes. Additionally, taxpayers and tax authorities
prefer digital methods of tax filing as well. It has been estimated by IRS that 127,939,000 tax returns for
the 2018 tax year were e-filed and 56,214,000 taxpayers e-filed their federal tax returns in May 2019.
It is becoming essential for CPA firms and outsourced tax preparation companies to acquire the latest tax
software before the rush of tax season 2020.
1. ProSeries Professional Software
This pro tax software will make you super-efficient this tax season as it will let you import data from
QuickBooks and Quicken. It comes along with the option to import income data of investments from
different monetary authorities as well. The salient features of this pro software are –
Can effortlessly scan tax forms for importing data
Built-in utility feature for better scheduling
It is collaborative software that can be linked with e-wallets like Smart-Vault
Highly secured software with digital signatures
Dynamic customer support
2. Turbo-tax
Turbo-tax is designed by Intuit and holds the status of the most popular tax software for CPA tax
preparation services. The reason behind the popularity of the software is the strong command over small
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things related to tax and provides a brief explanation for the assistance of the user. The other popular
features of Turbo-tax are –
It has strong compatibility with past filings
A simple question-and-answer format makes it easy to use
Unlimited support from the online chat room where tax experts are ready to help you
The software helps in finding tax deductions
User-friendly interface
3. Lacerte Software
This software is also developed by Intuit in 1998. The process of data management is quickened with the
simple worksheet-based interface of Lacerte Software. This software also contains data import shortcuts,
tools, extensive on-screen help, and some of the following awesome features –
Data will be imported after downloading Schedule D and Forms W-1
Easy on-screen help by pressing the F1 key
Access to online knowledge through the search box
Fully integrated with QuickBooks
Exchange wizards
Automatically organized
An array of practice management offline tools for software integration
4. H&R Block Tax
It is a nice software when you want to learn the methods to deal with your taxes or you want a lesson on
e-filing. This is a primary tax software with plenty of features like an in-office visit, credit card experts
and –
Interactive user interface
Question and answer format to hide the real tax documents
Users can get plenty of online help from expert chat rooms
Real-world appointments with professionals for extensive help
Keep a tab on the changing state tax rules
5. Ultra-tax CS Software
It is a tax program founded in 2008 to provide full-fledged professional guidance to taxpayers. This
software comes with extensive diagnostic on-screen access to a wide range of tax references and helping
articles with shortcut keys. Ultra-Tax CS Software is integrated with Accounting CS and other accounting
software along with a few additional features –
Quick access to on-screen reference material and help
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Simple diagnosis for multiple errors
Comes with shortcut key support
Have an eccentric customer support
Fully integrated software
6. eSmart Tax Software
Every tax preparation service provider is looking for a simple-to-use and cost-effective solution for their
business and eSmart is the software that offers everything. Liberty Tax has founded this simple platform
to prepare tax reports with multiple features such as –
Easy to navigate deductions to save your income
Saves lots of time
List of all the latest tax-related information for the ease of CPA
Helpful user instruction articles
Swift online support
7. Tax Act
Tax Act is a real-time program that will walk you through your different life events in the past year and
then guide you on how you can impact your state and income tax. The program will give you the
appropriate information that you required to file taxes from the different apps and offers –
Highly simple app
Question and answer format
Keen eye on your life events to propose correct tax-related information
Strong customer support
8. Tax Slayer
It is yet another tax program option for CPA companies who want affordable yet feature-loaded software.
CPAs can save up lots of money on downloading this software. The software has a simple, clean interface
that turns your tax forms into basic digital information fill-outs, removing the confusion from tracking
your tax documentation and some other features –
It is trusted by tax professionals
Have a general layout to file taxes
Guide Me option to make things easier
Navigating through forms is simple
Chat and phone support for quick help
9. Credit Karma
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If you like to switch from Turbo-tax or H&R Block, then Credit Karma will be a good option for you. It is
a highly useful free option with which you can save up lots of money and file some complex returns
simply as –
It is a questionnaire-style software
Simple yet comprehensive software
Comes with 24*7 customer chat support
Mobile-friendly interface
Helps in creating management reports as well
10. Drake Software
Drake Software is a complete package for accountants to prepare complex tax returns with extra ease. It is
a great tax program with on-screen diagnostics access to sort problems on users along with –
Can prepare any kind of tax return
Simple keyboard shortcuts
On-the-spot help
Amazing customer support
Conclusion
CPAs and accounting firms need to get hold of the latest tax preparation services software before the
burden of tax season 2020. As we have figured from the above 10 tax software suggestions that this
software performs so many different roles and reduces some of the burdens of taxpayers and accountants.
CapActix being one of the best-outsourced tax preparation service providers has trained staff to help you
with busy tax season so to inquire more about our tax preparation services, contact us at email
– [email protected]. or call on +1 (201)-778-0509 without any hesitation.
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