The 6 Best Professional Tax Software Programs of 2023 (2023)

ProSeries Professional offers a variety of tools to meet the needs of small and medium businesses. In addition to Form 5500 returns, the software offers various software packages and access to a variety of helpful resources, including tax planning advice:

• Client tools:It provides a variety of resources for your clients, including the ability to create checklists for the items your clients need for their annual tax returns. Client-specific billing and editable invoicing options are also available, including flat rate, hourly, and billable.
• Electronic filing:You can view, track, and manage the status of your customers' electronically filed returns. Missing customer data is also archived and tracked, and data must be entered before a return is sent.
• Hosting and Integration:Managed services start at $120 per user per month. With hosting, ProSeries software can be accessed on any device, anywhere, and information is stored in the cloud, enabling flexible workflows.
• Import from QuickBooks:You can easily import trial balances from QuickBooks Desktop Accounting.
• Tax Planning:ProSeries Professional will generate a list of over 70 tax planning recommendations that will help your clients lower their future taxes. Tax planners estimate income, expenses, withholding, and taxes for future tax years.
• Entry guidelines and forms:K-1 Data Auto Import transfers data to individual returns. The Intuit Link Portal allows customers to upload their files in a timely and organized manner.

ProSeries Professional is a solid tax preparation software from Intuit that is ideal for accountants looking for desktop software with a forms-based interface that can import account balances from QuickBooks Desktop. It can handle virtually any tax return, including Forms 1040, 1120, 1120S, 1065, 1041, 990, 706, and 709. However, it cannot prepare Form 5500 tax returns.

It has all the features you'd expect from modern tax software, such as electronic document management, downloading tax forms from financial institutions, and K-1 data transfer between returns. It offers four pricing tiers and is a great option for smaller firms preparing 200 or fewer returns per year or those focused almost entirely on individual returns. The price is very reasonable, especially if you focus on individual returns and buy the 1040 full pack.

Any company specializing in QuickBooks Online should seriously consider ProConnect Tax, as it offers powerful features such as missing data review and document management. It also has a K-1 package and a tax planner that can predict multiple case scenarios:

• File management:It allows you to upload, store and view documents when returning an item, with the option to download the form if required. You can also customize your tax information request based on previous year information.
• Tax planner:You can plan ahead for your 1040 and Schedule C clients by comparing tax plans. These scenarios include conducting multi-year comparisons up to three years and constructing multiple case scenarios. You can also calculate tax liability and import diagnostics.
• K-1 package:Partnerships, S-corporations (S-corps), and trustees can prepare letters, K-1 forms, K-1 state forms, and other applicable forms for each partner or shareholder.
• Electronic filing:View the status of all your customers' e-files with a dashboard that allows you to sort, filter and check rejections. You can also offer electronic signature signatures, allowing your customers to view and sign forms anytime, anywhere, on any device.
• Missing data review:ProConnect Tax will flag missing data fields so you can identify any gaps before filing. This simplifies the process of identifying any errors, reducing review time.

If you're an avid QuickBooks Online user, you might like ProConnect Tax Online, which is designed specifically to provide tax preparation capabilities to QuickBooks Online Accountant-centric companies. These programs are tightly integrated and can be managed from a single dashboard in QuickBooks Online Accountant.

ProConnect Tax is priced on a pay-per-use basis with no annual fee. QuickBooks Online ProAdvisors can try ProConnect for free and there is no charge until a return is submitted. Its powerful software can prepare Forms 1040, 1120, 1120S, 1065, 1041, 990, and 709 returns. However, it cannot prepare Forms 5500 and 706 returns. Its biggest downside is that it's only available as a pay-per-view package.

TaxAct Professional is an excellent option for accounting firms on a budget, with low prices and unlimited returns. While it doesn't integrate with tax research apps, its other features, such as access to ProAdvance and virtual practice capabilities, more than make up for it. TaxAct Professional also backs its work with a money-back guarantee and dedicated technical support:

• Virtual Practice Ability:It works with TaxDome to give you access to over 20 key practice management features, including automated workflows, customizable customer relationship management (CRM), and unlimited and secure file storage. It also allows unlimited electronic signatures and has a client portal and mobile app.
• To access ProAdvance:TaxAct ProAdvance is an online resource center that provides information and resources to enhance your practice.
• Powerful Reports and Tools:You and your clients have access to a variety of reports and tools, including TaxTutor guides that help clarify deductions, complex tax code changes, strategies and tips. You also have access to what-if tax calculators, depreciation and disposal summaries, and custom client reports.
• Exclusive support:TaxAct Professional provides easy access to support tools. There's also a help page to troubleshoot issues, and a comprehensive knowledge base. The TaxAct support team is available by phone and email.
• Money Back Guarantee:If you are not 100% satisfied with your TaxAct Professional, simply return the product within 30 days of receipt for a full refund. You will receive your money back, no questions asked.

Not only is Drake Tax a great value choice among professional tax software, but it also has many useful features, such as Look Back and DoubleCheck, that save you time when preparing your tax returns. Its hardware add-ons and paperless options also simplify the process:

• Looking back:The look-back feature lets you review tax return data for the previous year, which is useful when comparing information. Use keyboard shortcuts to toggle between Look Back and the current view.
• Check again:This is Drake Tax's diagnostic tool that tracks any changes that affect validated data entries. If any changes are detected, DoubleCheck will automatically flag it for review.
• Hardware add-ons:You can simplify tax preparation with optional hardware add-ons such as electronic signature pads, which allow customers to digitally sign returns. Another add-on is a barcode scanner, which can import data from a W-2 or K-1 using 2D barcodes.
• Safe Files Pro:If you're looking for a paperless option, SecureFilePro allows users to electronically obtain source documents from clients for tax preparation.
• Multiple status returns:Drake Tax allows you to create an unlimited number of state returns per federal return at no additional cost.

Drake Tax, in business since 1977, isn't just a little cheaper than its competitors -- it's a fraction of the price. However, it offers very powerful tax software. All state programs are included, and you can prepare multiple state returns for one business at no additional cost. Its attractive price—$345 for 10 individual tax returns plus pay-per-view pricing for corporate tax returns—makes it ideal for tax firms preparing 30 or fewer personal and business tax returns.

The platform has most of the same features as the more expensive software, including a client organizer, tax planner, MFJ vs. MFS comparison, and multi-state returns. The Electronic Document Center works like most professional packages, including the option to attach an electronic customer signature, so there is no need to print out Form 8879 for your customers to sign.

Lacerte Tax is a powerful solution that offers a variety of tools to help simplify your practice. These include an expanded form library, a paperless option for organizing and collecting tax information, and various tax analysis and planning tools. Lacerte Tax's missing customer data tool and spreadsheet utility will also help save time:

• Comprehensive form library:Lacerte Tax gives you access to more than 5,700 forms, including multistate, K-1, and 5500 benefit plan returns, enabling you to serve a variety of clients and businesses.
• Electronic Organizer:E-organizer is a paperless option for organization and information collection during the tax filing process and assists in sending questionnaires, forms and emails to clients. It gives them access to a custom, password-protected executable that includes detailed information on how to use the manager and answers to frequently asked questions (FAQ).
• Missing client data tools:The built-in Missing Customer Data utility identifies fields of missing information and sends requests to your customers for the information and documents they need. This allows tax preparers to flag missing fields for future reference or until the data is received, reducing the hassle of tracking down customer data.
• Spreadsheet utility:The Trial Balance utility helps in developing charts of accounts, modifying journal entries, viewing Trial Balance reports, and more. It can also easily import data from QuickBooks and EasyACCT, which will be seamlessly exported to Excel.
• Tax analysis and planning tools:The combination of Tax Planner and Tax Analyzer gives you access to sophisticated tax analysis and planning tools. Tax Planner provides a customized plan for each client's future liabilities based on current and future state and federal tax rates. Tax Analyzer assists professionals in managing their liabilities and financial health, flagging the amounts most likely to trigger an IRS audit.

Lacerte is Intuit's high-end tax preparation software for preparing the most complex tax returns, such as consolidated returns and tax returns for oil and gas companies. It can import balances from QuickBooks Desktop and integrates with Intuit Practice Management. Lacerte is expensive, but the returns are complex, and you should be able to recoup the cost through client fees.

You can prepare all personal and business returns, including Forms 1040, 1120, 1120S, 1065, 1041, and 990. It can also prepare gift and estate tax returns, Forms 709 and 706, and 5500 benefit plan returns. It includes time-saving features such as importing forms from financial institutions, importing capital gain and loss transactions from spreadsheets, and integration with QuickBooks Accountant Desktop.

CCH Axcess Tax is a comprehensive cloud-based software program for tax professionals. It integrates with other CCH Axcess modules to provide more features to help you practice. Its user interface is easy to navigate and allows you to create tax organizers for your clients. Electronic filing capabilities and tax research tools save time for you and your clients, and robust support options ensure you're never at a loss for any issues that may arise while using the software:

• Intuitive user interface:CCH Axcess Tax's user interface is easy to navigate, with a customizable Quick Access Toolbar to suit any company's needs. The dashboard gives you quick access to all related projects, tasks and related client documents. Users are also notified when a return requires attention.
• Tax Organizer:Users can create organizers for all clients that can be printed and sent or emailed. These can also be uploaded to the customer portal, allowing customers access at their convenience. Clients can also upload requested documents to the CCH Axcess Portal.
• Electronic Filing Capabilities:CCH Axcess Tax provides full electronic filing for all supported forms, allowing users to easily check their status, view alerts and denials. Digital tax workflows are also available to automate the entire tax preparation process.
• Great support options:There are a variety of help and support options available, including a searchable knowledge base, product guides, user videos, and community user forums. You may also download product enhancements or updates from this website. All registered users have access to phone, email or chat support.
• Tax Research Tools:CCH AnswerConnect is a powerful resource for comprehensive tax research, providing explanations of tax law and how it applies in the real world.

CCH Axcess Tax is a module of CCH Axcess cloud-based corporate management software. This is good news for small and mid-sized accounting firms, who are not only looking for tax preparation software, but also prefer cloud-based applications. It integrates with CCH IntelliConnect, a leading tax research service, providing in-procedural links and analysis with relevant tax authorities.

While it's disappointing that the CCH Axcess Tax website doesn't provide much more information about the capabilities of the platform, it comes from CCH and Wolters Kluwer, so we're confident it will include all the standard features you'll need to prepare just about any return. Although details are lacking, it made our list because it integrates with other CCH Axcess modules to provide cloud-based management for your entire company.