Best small business tax software free? You’re asking the right questions. You’ve got to know what to look for in your ideal solution. With so many options out there, it seems like the perfect fit could be anywhere. There are so many providers who can come up with a solution for you, but not all of them will give you the best business tax preparation software free.
Want to learn about best small business tax software? Or about best tax preparation software for small business? Check out these small business tax software free options. There are more than enough of the best available online services to choose from. So I picked the top three based on what you need, not on price tags. With some tools, monthly payment comes with bundle of other services you don’t need. This is why I didn’t include them in my choices. Also, you can always use these solutions that would work for your budget plan.
TaxSlayer
TaxSlayer was founded in the 1990s by local Georgia tax preparation company Rhodes-Murphy & Co. and currently prepares and files over 10 million returns each year. We chose it as the best value of all software reviewed, because it offers the lowest-cost business tax filing plan with support, compared to all the providers we reviewed.
TaxSlayer operates like most other tax prep software, letting users easily import W-2 forms and PDFs of past tax returns regardless of who prepared them. The software then walks the user through the step-by-step process, finding deductions along the way. TaxSlayer also offers phone and email support as needed.
Although TaxSlayer doesn’t offer personal support on par with some of the larger firms we reviewed, users still get a lot for their money. Its Ask a Tax Pro feature lets customers submit tax questions online which are then reviewed by IRS-certified tax professionals who answer with step-by-step guidance. TaxSlayer also offers a 100% accuracy guarantee and maximum refund guarantee, reimbursing its customers for any penalties and interest charges if something gets flagged by the IRS.
Self-Employed Plan
- $54.95 + $39.95 per state filed
- Prepare, print, and e-file
- Student loan interest and education expenses
- Free phone and email support
- Includes all credits like Earned Income Tax Credit and Child Tax Credit
- Includes all deductions and adjustments to income
- Includes all income types, no form or schedule restrictions
- W-2 import and PDF upload
- IRS Audit Assistance for three full years
- Ask a Tax Pro service
- Priority phone and email support
- Live chat
- Unlimited assistance
- Guidance with 1099 income
- Maximize Schedule C work expense deductions
- Quarterly estimated tax payment reminders
- Personalized guide to self-employed taxes
- Year-round tax and income tips
TurboTax
Owned by Intuit, the company behind QuickBooks, TurboTax is the most popular and widely used tax preparation software for both individuals and businesses. We chose it as the best overall because it offers an easy-to-use interface and both DIY tax filing and filing with the assistance of a tax professional.
TurboTax has created one of the most intuitive user interfaces available. Users can get started by importing a PDF of a past tax return and uploading pictures of W-2 and 1099 forms. From there, the software uses a series of prompts and questions to help finish and file the return.
When it comes to business taxes, TurboTax searches for industry-specific deductions other providers might miss. Users get guidance through the software for common expenses and can even track them through Intuit’s account software, QuickBooks.
Although TurboTax offers a comprehensive guided walkthrough, the software also offers an option to get direct help from tax professionals through TurboTax Live. Users can connect live on their screen with a CPA or tax professional for advice or a line-by-line review of their return or even hand off the entire return to be completed and filed by a professional.
TurboTax offers both a DIY TurboTax small business plan and a TurboTax Live plan. Fees for all plans are only due at the time of filing.
TurboTax Self-Employed Plan
- $120 + $50 per state filed
- Covers W-2 income, Earned Income Tax Credit (EIC), and Child Tax Credits
- Covers stocks, bonds, ESPPs, and other investments
- Import a PDF of a return from another tax software
- Audit Support Guarantee
- 24/7 access to an online community
- Searches 450+ tax deductions and credits
- Maximizes mortgage and property tax deductions
- Homeowner tax breaks (Schedule A)
- Auto import investment income
- Rental property income and tax deductions
- Guidance for contractors, freelancers, and small business owners
- Uncover industry-specific deductions for more tax breaks
- One-on-one help from self-employment specialists
- Expense, mileage, and job tracking
- Import 1099-MISC from a photo
TurboTax Live Self-Employed Plan
- $200+ $55 per state filed
- Prep, print, and e-file with help from a tax expert
- Import W-2 from a photo
- Final review and/or filing from a CPA or Tax Expert
- Talk with a tax expert about 450+ deductions and credits
- Review mortgage tax deductions with a CPA or Tax Expert
- Donation deduction support
- Covers stocks, bonds, ESPPs, and other investments
- Covers rental property income and tax deductions
- Auto import investment income
- Tax advice to make the most of self-employment income and expenses
- Industry-specific deductions
- Personalized audit assessment
- Expense, mileage, and job tracking
Liberty Tax
REASONS TO BUY
+Personal touch+Pretty straightforward
REASONS TO AVOID
-Fairly minimalistic
Liberty Tax is an affordable option for small business owners and is available online in a trio of editions, Basic, Deluxe and Premium, with the Deluxe version being suitable for the self-employed and a Premium package that is better suited to S corporations. Basic is just that, for those with the simplest of tax affairs to sort, so unlikely to be of appeal to SMBs.
It also comes with the back-up appeal of mixing cloud-based tax preparation with on-site options, allowing you to mix and match your filing duties. Functionality is, in the main, fairly spartan without too much in the way of frills, but that’s all that many users want from their business accounting package anyway.
Having the ability of getting help, either online via chat or email, can be mighty useful if you’re not too confident with your filing duties. At the same time, getting someone to check things over in person is even more beneficial in some cases. Liberty Tax also has online and classroom-based tax courses if you really want to get on top of your taxes.
On the downside, customers of Liberty Tax occasionally grumble about some aspects of its usability and less on-the-ball customer support. Nevertheless, if you’re prepared to take on those compromises then Liberty Tax is another option to consider, especially if some face-to-face assistance is likely to be required along the way.
eFile
REASONS TO BUY
+Decent features+Cheaper+Solid option
Another option if you’re looking for a simple-but-effective means to tackle your tax is eFile. This online-only option currently comes in three different packages, with a Free Basic being only suitable for standard W-2 income affairs. However, eFile is pretty useful if you’re a self-employed business person.
While eFile isn’t really aimed at, or indeed geared up for larger businesses due to its inability to let you file the corporations Form 1120 using the service, it is also useful for SMBs. Indeed, for businesses there’s the Premium edition, which delivers a speedy calculator-style system that issues useful estimates, plus a support agent to help you through the process.
Going down the eFile route means you’ll probably want to bypass the Deluxe edition and go for that Premium model in order to enjoy all of the benefits of a small business targeted filing system. While eFile has a slightly more light-hearted feel to its approach, generally speaking this is a solid and reasonably-priced option.
FreeTaxUSA
REASONS TO BUY
+Low cost +Guaranteed to be accurate
REASONS TO AVOID
-Limited to smaller businesses
FreeTaxUSA might not be the best option to head for if you’ve got more sophisticated small business tax affairs to get sorted, such as Form 1120 for a corporation for example. However, it is worth a look if your tax affairs really are pretty pedestrian as FreeTaxUSA offers basic functionality via a simple-to-use interface.
While there are apparently Simple and Premium options available, small business owners will really need to head straight for the Advanced package to ensure there are enough tools to get the job done. There is a charge for State returns too, so don’t expect a free ride, despite the name. One bonus is the easy import of a prior year return from TurboTax, H&R Block or TaxAct if you’re looking to change.
FreeTaxUSA gets a thumbs up for its Advanced bundle as it comes with assistance for all sorts of business income, with a raft of the major forms all being supported. Beefing up the appeal of FreeTaxUSA is the way the service can carry out real-time monitoring as you enter information, double-check things when you’ve completed a section and then run a final check before you e-file.
Jackson Hewitt Online
REASONS TO BUY
+Ideal for basic filing+Ability to get pro help
REASONS TO AVOID
-Can be a little patchy
The name is already a familiar sight in many physical locations across the US, but Jackson Hewitt Online is a useful extension of the brand that allows filing via the internet. While Jackson Hewitt Online does have its main focus on individual needs, it also caters for small business.
Jackson Hewitt Online has simplified its strategy over successive years, having had various packages previously. Which one you’d choose would have been dependent on the complexities of your tax filing affairs.
However, Jackson Hewitt Online has made amendments to its pricing structure this season and things are currently even more straightforward than ever, with $24 being the universal charge for state tax filing, or $25 for federal. There’s also a $49 option that covers all bases.
And, even though filing can be done online, the additional edge of Jackson Hewitt is the way that you can combine that with the ability to connect with a tax professional. The Jackson Hewitt Online route is suitable for the self-employed and those with more complex tax affairs. So, if you want the reassurance of being able to work through all of that with a real person then it’s worth investigating.
Conclusion:
Best small business tax preparation software is the best software for taxes. Most companies need to know about these tax preparation software free. Small business taxes represent a unique challenge. It’s a struggle to both run a business and handle the financial side, which includes preparing tax filings and records