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The 3 Best Accounting Software Programs For 2019 Tax Support

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Tax Support

In the midst of the holiday cheer, it’s easy to forget about the inevitable Scrooge lurking around the corner. That’s right, tax season is about to sneak up on us again.

Before you start hyperventilating, take a deep breath. Don’t let 1099-MISCs, W-2s, and Schedule Cs scare you. As stressful as tax time can be, accounting software is there to help. Accounting software can assist you in preparing and filing a variety of tax forms so you can concentrate on running the business you love.

Here at Merchant Maverick, we searched for the top three best accounting software systems for tax support and have come up with a few fantastic options to fit your business needs. The average program can handle 1099s, but we searched for accounting software that goes the extra mile. To truly get your money’s worth during tax season, check out one or all of the following three accounting vendors.

QuickBooks Pro

Accounting Software Taxes

I’m sure you aren’t surprised to see a QuickBooks product on this list. When the rubber meets the road, you really can’t beat the features of QuickBooks Pro — especially not when it comes to tax support. QuickBooks Pro is a full-featured, locally-installed software that is loved by small businesses and accountants alike.

QuickBooks Pro supports the following tax forms:

  • 1099-MISCs
  • W-2s
  • W-3s
  • 1096s
  • 940s
  • 941s
  • 944s

QuickBooks Pro has the largest selection of supported tax forms around, by far. Considering that most basic accounting software programs only support 1099’s, the variety offered here can be a huge advantage.

Something that sets QuickBooks Pro even further apart is that the software allows you to buy and print your tax forms directly from the Intuit website. You can also e-file your 1099-MISCs if you have either the Pro Payroll Enhanced plan or the Full-Service Payroll plan. With built-in e-filing and e-pay options, QuickBooks Pro makes tax season as easy as can be.

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To learn more about QuickBooks Pro, check out our full review and see why we gave this software 5/5 stars.

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One of the best accounting software options out there for small businesses

QuickBooks Self-EmployedTax Support

QuickBooks Self-Employed is a tax tool that can be used for minor bookkeeping and federal tax filing. Unlike QuickBooks Pro, QuickBooks Self-Employed is designed with the freelancer in mind. Freelancers have very specific tax guidelines and distinct tax and accounting needs.

QuickBooks Self-Employed offers the following tax support options:

  • Estimated quarterly taxes
  • Deductions
  • Schedule C

A particularly challenging aspect of being a freelancer is calculating estimated quarterly taxes, so this is arguably one of the most useful features of QuickBooks Self-Employed. The software also helps freelancers take advantage of all possible deductions, including mileage, travel, meals and entertainment, and home office space.

Based on how you categorize your transactions, the software generates a Schedule C. The best part about QuickBooks Self-Employed is that you get free Turbo Tax filing with your subscription (if you purchase the $17/mo plan). Just take your Schedule C, file online, and voila! Taxes are in the bag. You’ll also save some money by purchasing QuickBooks Self-Employed with Turbo Tax rather than just paying the $109 fee for filing with Turbo Tax as a freelancer.

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Much like Xero, QuickBooks Self-Employed provides great resources for understanding and optimizing your work as a freelancer. Check out this Complete Guide to Taxes for the Self-Employed and more.

While QB Self-Employed is a great tax tool, it is important to remember that this software is limited and a bit deceptive. There is no state tax support, so (by definition) you won’t be able to complete all your tax obligations with QuickBooks Self-Employed. You will be able to take care of your federal taxes and organize your accounts, which, for some people, may be all that is needed.

Before making a commitment to QuickBooks Self-Employed, read our full review so you can be sure to understand why it’s only rated at 3/5 stars. You can also check out the QuickBooks Self-Employed website for more details.

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A great choice for freelancers needing some extra help managing their business

Sage 50c

Once called Peachtree, Sage 50cloud is one of the other big names in accounting. Despite the name’s implications, Sage 50cloud is locally-installed software with a cloud-based storage component. The software, although quite expensive, is chock-full of features and can support up to 40 users. The software boasts strong accounting and is highly customizable.

Sage 50cloud support the following tax forms:

Best Tax Accounting Software

  • 1099s
  • w-2s
  • w-3s

Next to QuickBooks Pro, Sage 50cloud has one of the biggest tax support offerings on the market. The software also has a unique Year-End Wizard feature that walks you through how to close your books, so you can be ready to file your taxes correctly.

While we admire these aspects of Sage 50cloud, the software is not without its faults — mainly the price. Sage 50cloud is very expensive compared to other accounting software programs, which is why we recommend it to established medium or large businesses that need Sage’s comprehensive features, customizability, and traditional accounting. The software also has a steep learning curve and the UI is outdated. But these downsides don’t negate the software’s great tax support options.

Before purchasing Sage 50cloud, read our full Sage 50cloud review to learn more about the software, and compare Sage’s tax offerings to other cloud-based options to ensure you’re making the right decision.

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An accounting option with an advanced feature set and strong reputation

Final Thoughts

What Information to Bring Accountant for Small Business Taxes

Don’t let taxes scare you any longer. Using any of these three options, you can file your taxes with ease and confidence, knowing that you will survive another year — hopefully with much less stress and fear.

To summarize:

QuickBooks Pro is a great option for business owners with small to large businesses who need full-fledged accounting software as well as 1099, W-2, W-3, and or 1096 support. You’ll get ample features, but be prepared for a steep learning curve; getting accustomed to this software requires some patience and time.

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For the freelancers and the self-employed, QuickBooks Self-Employed is the way to go. You can’t file state taxes, but you do get estimated quarterly tax support, deduction support, and a Schedule C. The Turbo Tax integration in and of itself is almost reason enough to make use of this tax tool.

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Sage 50cloud is ideal for medium to large businesses needing to file 1099s, W-2s, or W-3s. The software is expensive and has a steep learning curve, but you’ll get ample feature strong accounting, and incredible customizability.

If you aren’t already using any of these accounting software programs, maybe it’s time to switch. Switching accounting software in the middle of tax season might cause unnecessary hassle unless you feel up to the challenge. So instead, get a leg up for next tax season and start using one of these accounting software options for your 2019 accounting.

But these aren’t the only options worth mentioning. QuickBooks Online supports 1099s and W-2s, FreshBooks support 1099s, and Wave supports W-2s, W-3s, 940s, and 941s for certain states. All of these choices could be a good fit for you depending on your business’s needs. Read our comprehensive accounting software reviews to learn more about each option.

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Some small businesses may like the simplicity of FreshBooks

With the right accounting software, you can survive another tax season! Good luck, and happy filing!

For more tax advice, view some of our other tax help articles.

What Can I Write Off As A Small Business Tax Deduction?

2018 Tax Prep Checklist

How Your Business Accounting Software Can Help You File 2018 Taxes

Chelsea Krause

Chelsea Krause

Managing Editor - Accounting
Chelsea Krause is a writer who has specialized in accounting for two years and is a QuickBooks Certified User. She has a BA in English & Creative Writing from George Fox University and studied at the University of Oxford as well. She has been quoted in Forbes and her work appears in Startup Nation, Small Business Bonfire, and Women on Business.
Chelsea Krause
Chelsea Krause

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2 Comments

Responses are not provided or commissioned by the vendor or bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the vendor or bank advertiser. It is not the vendor or bank advertiser's responsibility to ensure all posts and/or questions are answered.

    Jeanine Cloud Rigby

    Thanks for this great list. This accounting software is very useful not even for those big companies but also in SME’s. I personally think that firms that offer tax services here in the Philippines must use this kind of software so that it increases their effectiveness and efficiency in their work.

      Chelsea Krause

      You’re welcome, Jeanine! I’m glad you found the list helpful.

      Best wishes,
      -Chelsea Krause

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