The tax laws are complicated, and addressing them on your own can be quite daunting. This is especially true if you are self-employed or work a side job for additional income. Thankfully, there are plenty of options for tax software that are designed for those of us without an accounting background. We’ve compiled a list of the best tax software geared towards the self-employed so you can find one at a price that suits your budget and save some time.
Our Top Tax Software For Self-Employed
Tax Software For Self-Employed Reviews
1. Best Overall: Intuit TurboTax
Intuit TurboTax is software that is designed to help you prepare and file your taxes. It supports both federal and state tax returns. It has screeners for the things that are likely to increase your taxes, such as child care credits, educator expenses, adoption credit, etc., and it has various ways for you to import information from banks, investment firms, credit card companies into your return.
The program walks you through the process step by step with its easy-to-follow interview format that guides you through collecting all the necessary receipts and forms to make sure there are no missing pieces. The program has screeners that alert you to the things that are likely to increase your taxes, and also, it has tax calculators for comparing the federal and state tax returns.
It delivers prompt and accurate results with its advanced Intuit Tax Optimizer, which includes such features as Tax Rate Estimator, State Tax Calculator, Shortcuts, and Tax Strategies. The tax strategy tool helps you save money by finding an effective way of reducing or eliminating deductions.
Pricing Plans
- Free Edition – $0.
- Deluxe – $60.
- Premier – $90.
- Self-Employed – $120.
All Plans Include
- Covers stocks, bonds, ESPPs, and other investments.
- Auto import of investment income.
- Covers rental property income and tax deductions.
- Accurately account for gains and losses from cryptocurrency transactions.
- Guidance for contractors, freelancers, and small business owners.
- Uncovers industry-specific deductions for more tax breaks.
- One-on-one help from self-employment specialists.
- File with confidence—personalized audit assessment to know it’s right.
- Easily import your 1099-NEC with just a snap from your smartphone.
2. Best Easy-to-Use: H&R Block
If you’re self-employed and want to get your taxes done right the first time, H&R Block has a wide range of tax software that can make doing your taxes much easier. The variety of options available from H&R Block will help you reduce the stress of filing your taxes with the best software on the market.
H&R Block will help you file your taxes easily with their diverse line of software that will suit all needs. H&R Block is a premier tax software that will correct the mistakes you have made in the past and even help you discover new money-saving loopholes.
This tax issue is especially important for self-employed individuals who may have trouble understanding and filing their taxes. H&R Block has simplified the process of filing taxes for solo professionals with their programs. H&R Block will provide thorough media to help you understand your taxes in a way that will ease your mind.
With these services, H&R Block will ensure that they create software to suit all types of businesses and individuals.
Pricing Plans
- Free – starting at $0.
- Deluxe – starting at $49.99.
- Premium – starting at $69.99.
- Self-Employed – starting at $109.99.
All Plans Include
- Earned Income Credit (EITC).
- Deduct student tuition, payments, and loan interest.
- Report your retirement income.
- Digitally organize all of your tax docs for up to six years.
- Access to live phone or chat tech support.
- Have a Health Savings Account (HSA).
- Deduct real estate taxes and home mortgage interest.
- Organize contract, freelancing, gig work, and other self-employed income.
- Report stocks, bonds, and other investment income (Schedule D).
- Claim rental income & deductions (Schedule E).
- Claim your small business expenses.
- Report all business deductions and asset depreciation.
3. Best Affordable: TaxSlayer
TaxSlayer is a powerful and easy-to-use software for the self-employed. It combines the tax expertise of CPAs with the convenience and affordability of web-based personal finance tools, all backed by quality support.
You can import your last year’s tax return to start the process or use it as a guide to prepare for this year’s taxes. You have full control over your data entry, so you know it’s accurate. This software does everything you need to complete your taxes, such as importing data from last year’s return and calculating income and deductions for both Federal and State returns. You can even use it to pay your taxes online.
Pricing Plans
- Simply Free – $0.
- Classic – $24.95.
- Premium – $44.95.
- Self-Employed – $54.95.
4. Best Value: TaxAct Business
If you’re self-employed, have an S-Corp, need to file a partnership tax return or a trust tax return, or if you’re a contractor or 1099 employee, then this program is just for you. It offered free 1-on-1 support from CPAs and enrolled agents with experience in taxes for small business owners.
This is by far the best experience for any freelancer filing taxes on their own. It’s so easy to use – even if my kid could do it! I recommend getting help at the beginning of the year from a professional to guide you through how to ask questions and find your way around in this system.
The interface is excellent, and the PDF help files are awesome. With this program, you can make great filing decisions and be confident that they are the best decisions for your unique situation.
5. Best for Streamline Workflows: TaxDome
If you are someone who runs your own business, you may be self-employed. If so, then the process of paying your taxes can be complicated. And if you’re like most people with this kind of situation, you want something as easy as possible – especially while balancing all other aspects of life.
Self-employed clients can easily take care of paying their taxes using TaxDome, a tax deduction software company specializing in tools to help small business owners keep up with their finances and pay less in income tax.
TaxDome is compatible with major operating systems, including Mac OSX and Windows. For computer support personnel and others who work with small businesses regularly pay, TaxDome is an excellent option. Businesses that employ seasonal workers can also benefit from this software program. In addition to the ability to track expenses, it also allows you to set up payroll deductions for employees.
All Plans Include
- Client portal with mobile app.
- Custom branding & URL.
- Workflow Automations.
- CRM.
- Accept credit card & ACH payment.
- Secure Messaging.
- Unlimited e-signatures (KBA available).
- Customizable organizers (forms).
- Notifications & automated reminders.
- Team management.
- Windows & Mac desktop applications.
- Expiring share links for 3rd parties.
- Unlimited clients.
- Integrations with QuickBooks & Tax Programs.
Buyer’s Guide
Choosing a program for filing taxes can be difficult if you don’t know your prices from your taxes. This guide will help with that by providing information about the different features of each one and what each can offer in terms of saving time and money.
Benefits Of Tax Software For Self-Employed
Self-employed individuals often have many different sources of income that they have to report and pay taxes on. Tax software is an excellent way of handling all of them, as well as preparing and filing a tax return. Here are some of the benefits it can provide for the self-employed.
Saves time
All self-employed individuals will tell you how much time they spend on their taxes. A tax software program can create a return for you, saving you hours every year! You’ll be able to use all your precious free time doing more productive things like paying your bills or building your business.
Saves money
In general, being self-employed is an expensive lifestyle choice. As a self-employed individual, you are responsible for your own taxes and paying into various programs designed to help others. A tax software program can help save you money by filing your return at the right time and taxes filing out the right forms.
Reduces stress
Tax software helps reduce stress because it creates checks and balances to make sure nothing is forgotten or done incorrectly. The system clarifies where you stand financially in terms of money owed or owed to you from the government. This can also help save a considerable amount of time as well.
Prevents errors
Tax software is designed to immediately flag a problem, minimizing the chances of an error being made. This makes your return “work like magic,” along with saving you time and money.
FAQ
What Is Tax Software For Self-Employed
Tax software was created to help individuals prepare their taxes through an online program that links to the taxpayer’s account for the company they work for.
What Is The Best Tax Software For Self-Employed?
Several different kinds of tax software are available for self-employed individuals who may have complicated tax situations, such as 1099 income and investment property. One popular option is TurboTax by Intuit.
Can You Use Turbo Tax If You Are Self-Employed?
Yes, Turbo Tax is one of the easiest ways out there that help you keep your records in order and easily manage your taxes on the go! It’s easy to use turbo tax if you are self-employed and save you money without sacrificing important deductions.
