Money Hacks

Tax Software Programs That Make Filing Your Taxes as an Entrepreneur Easier Than Ever

Doing your business taxes as a sole proprietor can feel like a daunting task. For remote workers, it might be even more complex with all the added business deductions you have to keep track of.

Luckily, there are several different ax softwares designed specifically for entrepreneurs that can make filing your taxes easy. 

TurboTax

Almost everyone has heard of TurboTax, and for good reason. It is the No. 1 tax software for entrepreneurs and small businesses. Developed by Intuit, TurboTax has been on the market for decades. While there is a free version, entrepreneurs will have to upgrade to the self-employed option in order to get a Schedule C form to add all their business deductions. This option costs over $100, but it does include the following perks:

  • QuickBooks for the self employed
  • On-the-go expense tracking
  • Option to connect all your bank accounts
  • Find industry-specific deductions

H&R Block

This tax preparation service has similar features to TurboTax, but at H&R Block you can actually walk into a brick and mortar location to get help if you need it. This is a company that has over 60 years worth of tax prep experience, so they know the ins and outs of small business accounting. H&R Block offers upfront pricing, expert guidance, and you can file either in-person or online.  

Taxes don’t have to be overly stressful. | Submitted by Rachel Novosad

eFile

Here is another option that for entrepreneurs that covers all the bases, including filing support, free federal e-filing, and a fast refund. However, you will have to upgrade to the premium version to report your business income when you use eFile. The upgrade supports all deductions and credits available for your remote work income. 

TaxACT

This company has a specific, although pricey, tax software for freelancers and self-employed workers. TaxACT’s small business version promises to guarantee the maximum benefit for self-employed workers and independent contractors. They have a special tool for freelancers to find the maximum amount of deductions to get the biggest tax return. 

TaxSlayer

This small business tax software offers competitive prices for filing your taxes online. It has a low price for all tax situations, including freelancers, sole proprietors, and independent contractors. Filing your taxes is quick and easy, with TaxSlayer claiming they have the speediest filing process for e-filing. 

It helps to know where to start| Submitted by Nichole Moorman

eSmart Tax

Most people are familiar with Liberty Tax, and Liberty Tax created eSmart Tax, which is another great option for remote workers. The Premium version is best for business owners and offers forms 1040, 4562, 8829, Schedules B, C, E, F, and K-1. It also provides help with the home office and other business deductions

FreeTaxUSA

This is a lesser known tax software for entrepreneurs that gets the job done for free. FreeTaxUSA is an IRS approved E-File provider, and is a top rated software that helps you find all the deductions you are entitled to. Even their free edition covers the self employed, so it’s a great option for remote workers. It also helps you find over 350 different credits and deductions.

Since this is the only free version for self employed workers, it’s our favorite pick. Why spend money when you don’t have to?

Choosing the right tax software for entrepreneurs, remote workers, freelancers, sole proprietors, and independent contractors is easy once you know what you’re looking for. These tax programs help you find all the deductions you’re entitled to as a remote worker, which means you’ll get the biggest return possible. 

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