Tips Before, and While Using a Professional Tax Software

Tax Software for Tax Preparers Ultimate Tax blog post header 7

When you’re a self-employed or small business owner, you may wonder if it’s worth the cost to use tax software. After all, even with a basic understanding of taxes and accounting, most people can handle keeping track of their business finances and filing taxes as well. 

However, using professional tax software may be something that is in your future if you want to grow your business. Tax software will help you organize and file your tax returns efficiently by automatically categorizing transactions and entering them into your accounting system. 

This article will provide some insight into whether using a piece of tax software is right for you as an individual or small business owner. Let’s take a look at some tips before, and while using professional tax software…

Tips Before Using a Professional Tax Software

Research

If you’re interested in using specific tax software but aren’t sure if it’s right for you yet, you may want to do some research first. First, you may want to read reviews online by potential users. Look over comments left by potential customers to see what they had to say about the product’s ease of use, value, and other features. 

You may even want to reach out to the company directly to find out more about their product, and how they handle support and maintenance. Next, you might want to look into the company’s history and how it came to be. If a particular tax software is well-known and established, that may be an indicator that it is a good product. 

On the other hand, if a new tax software is getting a lot of attention, that may not necessarily mean it’s the best. You may even want to look into the company’s financial status, to see if they are profitable or have losses. Then, you may want to take a look at the product’s features. 

What features does the software have that might be helpful for your business? Some examples include the ability to track expenses, categorize transactions, and manage your cash flow.

Keep in Touch With Your Tax Software Provider

As you use the tax software, you may want to keep in touch with the company that makes it. If you have any questions or concerns, you may want to contact the customer support team at the tax software company. They may be able to walk you through any issues you’re having with the software or help you set up a maintenance plan so that you don’t have to call them as often. 

Now, you may want to let the customer support team know that you’re using their product. Make sure to be specific, and let them know when you began using the product, how often you use it, and what you like or dislike about the experience. This way, if you have any issues in the future, the support team can help troubleshoot them.

Ask for a Trial of the Software

If you haven’t used professional tax software before, you may want to take advantage of a free trial. This way, you can test the software and see if it’s something that works for you. You may be eligible for a free trial if you’re signing up for a long-term contract, like 12 months. To take advantage of the free trial, you will have to activate the software and register it with your business information. 

You will want to activate the software first so it’s set to use. You will also want to register your business information with the software, so it knows who it’s supposed to be reporting to. 

Once you have these two things done, you can start using the trial version of the software. You can use it as long as you want, but you will have to pay once the trial period is over.

Summarize your Needs and Define your Goals

When you’re researching whether you should use tax software, you may want to take a look at the features of different products and determine what you need from your software. 

Then, you may want to take the time to write down your specific needs so you can put them into words. This will help you narrow down your research and make a decision about what product is best for you. Once you’ve identified your needs and goals, it may be helpful to create a “to-do” list. 

If you’re trying to decide between two products, you may want to take a look at which items on your “to-do” list are fulfilled by each product. This way, you can more quickly determine which product is best for you.

Explore All Options

If you are looking to grow your business and use tax software for that purpose, you may want to consider exploring all the options out there before making a decision. Some tax software companies have special programs that are designed for businesses, while others offer different packages with different features and prices, depending on how you want to use the software. 

You may also want to consider working with a tax consultant to help you decide which tax software is best for you and your needs. A tax consultant may be able to help you identify the best options for your business and make sure you’re taking advantage of all their features.

Choose the Right Tax Software for You

Once you’ve determined what you need from tax software, you may want to consider looking at the different products. You may want to start by looking at the top-selling tax software for your industry and see if any of those meet your needs. 

You may also want to try visiting your local computer store to ask for recommendations. If you are unable to pick out a suitable product from the ones you come across, you may want to consider doing some research online. 

You may want to look into the features different tax software has that meet your needs, and see if any of them stand out as particularly good or bad.

Tips While Using a Professional Tax Software

Make a Schedule

When scheduling your taxes, don’t just put them off until the end of the year. Set aside time to file your taxes each quarter. This will help you to stay on top of your finances and make sure that you don’t miss any deadlines.

Scan Documents

When you have to file taxes, you will most likely be required to submit original documents. However, this can be time-consuming and frustrating, so you may instead choose to simply scan the documents and upload them. If you do choose this option, however, make sure to keep a copy of the image, in case the IRS requests it.

Read Software Updates

Tax software developers are in the business of creating tools that make filing taxes easier, which means that they are constantly adding new features and improving existing tools to make filing taxes more efficient. If you are using a more basic program, you may want to check the company’s website often to see if any updates have been released. 

If so, you should consider downloading the new version. You may also want to periodically check the customer reviews on Amazon or other review websites to see if any of the negative reviews have been resolved.

Keep Track of Recently Approved Regulations

Some tax software will allow you to keep track of recent regulations that have been recently approved by the IRS. This can help to prevent you from accidentally filing incorrect taxes while filing your returns, but it should be noted that this doesn’t provide you with legal advice. 

You should still consult a tax professional if you have any questions regarding recent regulations and if you are unsure of how to file a given financial situation.

Don’t be Afraid to Ask For Help

The vast majority of tax software is easy to use and straightforward, but some users may find that they have a particularly difficult time using the software or have questions about how it works. If this sounds like you, don’t be afraid to ask for help. 

You may find that a simple search on Google or a call to a customer service representative can help you to resolve your issues.

Final Words

When you’re starting a business, you may wonder if it’s worth the cost to use tax software. In many cases, it’s worth it to take advantage of the benefits that come with using tax software. Now, you may want to keep in touch with your vendor to see how they are doing, and maintain your software. 

You may also want to keep track of your expenses and categorize your transactions to make sure that you don’t miss any taxes. If you do these things, you may be able to get by with your current software and continue to use it for years to come.



UltimateTax Service, Inc. is a professional tax software provider. We provide this information as a service to our clients and friends. The information we post is for your viewing and knowledge pleasure. We take all information we post seriously and stand behind what we post. However, information we post is not meant to be used as your sole position in tax cases.


Author: Mike Steele

Serial entrepreneur since 1994. Tax preparation and tax software have been my passion over the years. Bringing value to my customers has always been a priority. If it’s not great, keep trying.


Stop Waiting
Let us help you find the right solution for your business!

Top