Advertiser Disclosure

💳 Save money on credit card processing with one our top 5 picks for 2020

The 3 Best Accounting Software Programs For Tax Support

  • 2 comments
  • Updated on:
Advertiser Disclosure: Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity.
Tax Support

Tax season is here 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 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.

Learn More About Our Top Picks

Company Summary Next Steps
Best for small to large businesses that need full-fledged accounting software with tax support

Visit Site

Read More

Best for freelancers and self-employed individuals

Visit Site

Read More

Best for medium to large businesses that need to file 1099s, W-2s, or W-3s

Visit Site

Read More

Read more below to learn why we chose these options.

1. QuickBooks Pro

QuickBooks Desktop Pro



Visit Site

Read our Review

Best for small to large businesses that need full-fledged accounting software with tax support.

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.

best Accounting Software for Tax Support

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 1099s, 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 with Intuit’s 1099 E-File Service, which starts at $14.99. With built-in e-filing and e-pay options, QuickBooks Pro makes tax season as easy as can be.

Get Started with QuickBooks Desktop Pro

Read our in-depth review

Jump back to comparison chart

2. QuickBooks Self-Employed

QuickBooks Self-Employed



Visit Site

Read our Review

Best for freelancers and self-employed individuals that need help with estimated quarterly taxes and deductions.

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.

Best Tax Accounting Software

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 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 TurboTax filing with your subscription (if you purchase the Self-Employed Tax Bundle or the Self-Employed Live Tax Bundle). 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 TurboTax rather than just paying the $120 fee for filing with TurboTax as a freelancer.

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, might be all that is needed.

Before committing to QuickBooks Self-Employed, read our full review, so you can see why it’s rated at 4/5 stars. You can also check out the QuickBooks Self-Employed website for more details.

Get Started with QuickBooks Self-Employed

Read our in-depth review

Jump back to comparison chart

3. Sage 50cloud

Sage 50cloud



Visit Site

Read our Review

Best for medium to large businesses that need to file 1099s, W-2s, or W-3s.

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.

Best Tax Accounting Software

Sage 50cloud supports the following tax forms:

  • 1099-MISCs
  • 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.

Get Started with Sage 50cloud

Read our in-depth review

Jump back to comparison chart

Final Thoughts

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.

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 TurboTax integration in and of itself is almost reason enough to make use of this tax tool.

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 features, 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 the years ahead.

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.

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?

2020 Tax Prep Checklist

The Secret To An Easy & Stress-Free Tax Season For Your Business

In Summary: Best Tax Accounting Software

  1. QuickBooks Desktop Pro: Best for small to large businesses that need full-fledged accounting software with tax support
  2. QuickBooks Self-Employed: Best for freelancers and self-employed individuals
  3. Sage 50cloud: Best for medium to large businesses that need to file 1099s, W-2s, or W-3s
Chelsea Krause

Chelsea Krause

Content Strategist - Accounting & eCommerce
Chelsea Krause is a writer who has specialized in accounting for over three 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
Leave a comment

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.

      This comment refers to an earlier version of this post and may be outdated.

      Chelsea Krause

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

      Best wishes,
      -Chelsea Krause

        This comment refers to an earlier version of this post and may be outdated.

      Leave a Reply

      Your email address will not be published. Required fields are marked *

      Your Review

      Comment moderation is enabled. Your comment may take some time to appear.
      Please read the "User Review and Comment Policy" before posting.

      Share

      Featured Offer: We Recommend QuickBooks 🎉

      Get 50% QuickBooks Online for a limited time!

      Take it for a spin with a free trial.

      Try QuickBooks Today

      We Recommend Fattmerchant 🏆

      Fattmerchant is one of our top picks for credit card processing!

       

       

      We love Fattmerchant's predictable pricing and excellent service.

      Get Started

      Get started with no commitment today.

      We Recommend Brex Corporate Card for Startups 🏆

      Brex Corporate Card for Startups is one of our top picks for business credit cards!

       

       

      For a limited time get 50,000 rewards points when you spend $1000 with Brex.

      Get Started

      Get started with no commitment today.

      We Recommend Fattmerchant 🏆

      Fattmerchant is one of our top picks for credit card processing!

       

       

      We love Fattmerchant's predictable pricing and excellent service.

      Get Started

      Get started with no commitment today.

      We Recommend Fattmerchant 🏆

      Fattmerchant is one of our top picks for credit card processing!

       

       

      We love Fattmerchant's predictable pricing and excellent service.

      Get Started

      Get started with no commitment today.

      ⭐️ Featured Promo! ⭐️

      Sign up now and qualify for a limited time deal!

      Standard Plan: One month free ($29.95 value)
      Plus Plan: Two months free ($159.90 value)
      Pro Plan: Three months free ($899.85 value)

      Learn More

      At BigCommerce

      We Recommend Fattmerchant 🏆

      Fattmerchant is one of our top picks for credit card processing!

       

       

      We love Fattmerchant's predictable pricing and excellent service.

      Get Started

      Get started with no commitment today.

      We Recommend Helcim 🏆

      Helcim is one of our top picks for payment processing!

       

       

      Helcim has exceptional service and an advanced platform that we highly recommend for businesses in Canada and the US. Get three months free when you sign up with Helcim through our links!

      Get Started

      Get started with no commitment today.

      We Recommend PaymentCloud 🏆

      PaymentCloud is one of our top picks for credit card processing!

       

       

      We love PaymentCloud's predictable pricing and excellent service.

      Get Started

      Get started with no commitment today.

      We Recommend OnDeck 🏆

      OnDeck is one of our top picks for Business Loans!

       

       

      OnDeck is our featured vendor for business loans and lines of credit. If you have at least one year in business, a personal credit score of 600 or higher, and $100K in annual revenue, OnDeck is ready to help your business get funded.

      Get Started

      Get started with no commitment today.

      Get 50% Off FreshBooks ✨

      FreshBooks accounting is offering 50% off of their accounting and invoicing software for three months and a 30-day free trial!

      Start For Free

      No credit card required

      We Recommend ShopKeep POS 🏆

      ShopKeep POS is one of our top picks for Point of Sale software!

       

       

      ShopKeep is offering free eCommerce tools and free online ordering for all existing and new customers for the next 3 months!

      Get Started

      Get started with no commitment today.

      We Recommend Fundera 🏆

      Fundera is one of our top picks for SBA loans!

       

       

      Fundera is a free-to-use marketplace that allows you to compare lenders side-by-side. Easily find SBA 7(a)loans alongside other financing options.

      Get Started

      Get started with no commitment today.

      We Recommend ShippingEasy 🏆

      ShippingEasy is one of our top picks for shipping software!

       

       

      ShippingEasy got a 5-star review from our team. Get a 30-day free trial to access discounted USPS and UPS shipping rates and print labels in no time. No credit card required.

      Get Started

      Get started with no commitment today.

      We Recommend Square POS 🏆

      Square POS is one of our top picks for Point of Sale!

       

       

      Square is free to use and include a free card reader at sign up! No credit card required to create your account.👌

      Get Started

      Get started with no commitment today.


       

      Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity. The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author’s alone.

      Sign up for the Maverick Newsletter

      • We occasionally send out emails with special offers.