The task of tax preparation is both tedious and time consuming.
For this reason, many people employ services of task preparation companies that take care of all the tasks of filing and calculating requirements of an individual or company. However, this comes with a cost and in some intricate cases with a considerable cost. Customers are being charged from the process of simple tax calculation to the end process of tax filling.
Even the discounted packages are often too expensive and will ask you to empty your pockets for preparing your tax file. On the other hand, a better and cheaper method is to take use of the one of the many professional tax preparation software tools available in the market. It is no myth but a reality that tax preparation software is outranking the value and market share of the tax preparation companies. It is because of the reason that the software solutions designed for professional use have all the necessary features that are required for calculating and filing federal and state taxes liable on a company. The majority of the professional tax software comes with a premium fee which has to be paid once when purchasing the software or can have a yearly subscription fees. Either way, it has been found that employing one of the below mentioned software is still less costly than utilizing the services of tax franchises which demand for fees every time a file has to be prepared.
1. Tax Brain
Tax Brain is a professional software tool that is mostly used by small or medium scale enterprises. It comes with a onetime purchase cost and you do not have to worry about the monthly or yearly subscription of the software. furthermore, the software provider company also offers a one week free trail in which you can test the software and buy it after one week if you are satisfied with the software functioning. a form-style data entry scheme is utilized that has been observed to be easier to fill and also augments the data processing speed of the software.
2. eSmart Tax
Globalization has allowed businesses to target the global market and expand their reach. An American company with a franchise in China will also have to pay tax to the Chinese government, and this requires online tax filing. The process can be intricate if there are no means of online data collection and e-filing. With the paid version of the eSmart software, users can receive data online and can also send prepare their tax files online. This feature has augmented the popularity of the software in the professional tax preparation industry, and many of the tax preparation companies also take use of eSmart software.
3. Express Tax Refund
If the tax to be calculated is for a single year, then using Express Tax Refund software can be a good option. The software is cheaper than the above two and helps in preparing very accurate tax results of one year. However, if tax needs to be calculated of two or more years, which is often the case with large enterprises, then the Express Tax Refund software will not be the right choice.
Author’s Bio: The author of this article is Rebecca Peterson. She has been an author of various home maintenance and decoration books. She has also been writing for various online magazine and blogs. She enjoys a large fellowship of people from around the globe that want to learn about the Professional Tax Software and other Tax, Finance and Auditing related industries.