5+ Best Accounting Software for Tax Preparation and Filing

Image of author Nick Cotter
Newfoundr
accounting software for tax preparation
March 13, 2023
-
10
min read

Accounting software has become a crucial piece of technology for tax preparation and filing. With the right accounting software, you can streamline your tax preparation and filing process, giving you access to essential features like automated calculations, business planning tools, data storage, and more. We’ve compiled a list of the top accounting software for tax preparation and filing so you can choose the perfect fit for your business needs.

Who is the best Accounting Software For Tax Preparation?

The Best Accounting Software For Tax Preparation of 2023:

Here’s our shortlist of the best accounting software for tax preparation I'm ranking through our extensive research and use:

  1. FreshBooks
  2. AccountMate
  3. KashFlow
  4. FreeAgent
  5. Sage 50

Our Review of the Best Accounting Software For Tax Preparation:

Here is our list of the best accounting software for tax preparation:

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FreshBooks

Newfoundrz's Software Review:
Image of full star review ratingImage of full star review ratingImage of full star review ratingImage of half a star review rating
4.2
out of 5

FreshBooks is an accounting software that includes invoicing, time tracking, and project management features, primarily aimed at freelancers and small businesses. It is cloud-based and offers mobile apps for iOS and Android.

  • Invoicing
  • Invoicing
  • Time tracking
  • Project management
  • Estimates and proposals
  • Time-saving automation of invoicing and payment processing
  • Easy time tracking and project management
  • Simplified tax preparation
  • Higher pricing for advanced features and multi-user support
  • Limited customization options for invoices and reports
  • Limited integration options with other software
Pricing for FreshBooks starts at $17/month and moves up to $55/month pricing from there. You should connect with their team to learn more about the capabilities with each plan.
Best Fit For:
small and medium sized business
Free Trial Offered?
YES
NO
Pricing Plan 1:
$17/month
Pricing Plan 2:
$55/month
  • Shopify
  • Trello
  • Mailchimp
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AccountMate

Newfoundrz's Software Review:
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4
out of 5

AccountMate is desktop accounting software aimed at small to medium-sized businesses. It includes features such as payroll and inventory management, along with various other accounting features.

  • Invoicing
  • Accounting and financial management
  • Payroll
  • Inventory management
  • Job costing
  • Comprehensive accounting and financial management
  • Advanced job costing and manufacturing management
  • Robust inventory and order management
  • Higher pricing for advanced features and customization
  • Limited cloud-based capabilities and mobile access
  • Limited integration options with other software
Pricing for AccountMate starts at Custom and moves up to Custom pricing from there. You should connect with their team to learn more about the capabilities with each plan.
Best Fit For:
small and medium sized business
Free Trial Offered?
YES
NO
Pricing Plan 1:
Custom
Pricing Plan 2:
Custom
  • Dropbox
  • Zapier
  • Avalara
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KashFlow

Newfoundrz's Software Review:
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4
out of 5

KashFlow is a cloud-based accounting software aimed at small businesses. It includes features such as invoicing, expense tracking, and financial reporting.

  • Invoicing
  • Invoicing
  • Expense tracking
  • Payroll
  • Financial reporting
  • Streamlined invoicing and payment processing
  • Efficient expense tracking and reporting
  • Automated VAT filing and compliance
  • Limited integration options with other software
  • Limited customization options for invoices and reports
  • Higher pricing for additional users and advanced features
Pricing for KashFlow starts at $12.70/month and moves up to $35/month pricing from there. You should connect with their team to learn more about the capabilities with each plan.
Best Fit For:
small and medium sized business
Free Trial Offered?
YES
NO
Pricing Plan 1:
$12.70/month
Pricing Plan 2:
$35/month
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FreeAgent

Newfoundrz's Software Review:
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4.2
out of 5

FreeAgent is a cloud-based accounting software aimed at freelancers and small businesses. It includes features such as invoicing and expense tracking.

  • Invoicing
  • Invoicing
  • Expense tracking
  • Financial reporting
  • Project management
  • User-friendly platform for freelancers and small business owners
  • Simplified project and time management
  • Easy tax filing and compliance
  • Limited customization options for certain features
  • Higher pricing for advanced features and multi-user support
  • Limited mobile app capabilities
Pricing for FreeAgent starts at $0/month and moves up to $24/month pricing from there. You should connect with their team to learn more about the capabilities with each plan.
Best Fit For:
small and medium sized business
Free Trial Offered?
YES
NO
Pricing Plan 1:
$0/month
Pricing Plan 2:
$24/month
  • Dropbox
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  • Google Drive
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Sage 50

Newfoundrz's Software Review:
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4.5
out of 5

Sage 50 is desktop accounting software aimed at small to medium-sized businesses. It includes features such as payroll and job costing, along with various other accounting features.

  • Invoicing
  • Accounting and financial management
  • Payroll
  • Inventory management
  • Job costing
  • Comprehensive accounting and financial management
  • Advanced payroll processing and reporting
  • Efficient inventory management
  • Limited cloud-based capabilities and mobile access
  • Some users may find the interface too complex or outdated
  • Higher pricing for additional users and advanced features
Pricing for Sage 50 starts at $28.90/month and moves up to $76.65/month pricing from there. You should connect with their team to learn more about the capabilities with each plan.
Best Fit For:
small and medium sized business
Free Trial Offered?
YES
NO
Pricing Plan 1:
$28.90/month
Pricing Plan 2:
$76.65/month
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  • Google Drive
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Featured Partners:
QuickBooks
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Software Rankings:
Disclaimer:
Each sponsored placement is distinguished with a distinctive blue ribbon, ensuring that you are aware of and informed about the content you're consuming.

Important Features to Look For in Accounting Software For Tax Preparation:

Accounting Software For Tax Preparation Pricing Comparison Table:

Platform Free Trial? Pricing #1 Pricing #2
FreshBooks true $17/month $55/month
AccountMate false Custom Custom
KashFlow true $12.70/month $35/month
FreeAgent true $0/month $24/month
Sage 50 true $28.90/month $76.65/month

Accounting Software For Tax Preparation Rating Comparison Table:

Software Customer Support Performance Value Total Product Rating
FreshBooks 4.5 4 4 4.2
AccountMate 4 4 4 4
KashFlow 4 4 4 4
FreeAgent 4.5 4 4 4.2
Sage 50 4.4 4.4 4.6 4.5

Should tax preparers and filers consider using accounting software?

Can tax preparation businesses benefit from using QuickBooks?

What are the top benefits of using accounting software for tax preparation businesses?

How much does accounting software for consultants cost, and what features does it provide for managing projects, time tracking, or generating invoices?

Factors we use to Rank Accounting Software For Tax Preparation:

Newfoundr

Founder and CEO

We're newfoundr.com, dedicated to helping aspiring entrepreneurs succeed. As a small business owner with over five years of experience, I have garnered valuable knowledge and insights across a diverse range of industries. My passion for entrepreneurship drives me to share my expertise with aspiring entrepreneurs, empowering them to turn their business dreams into reality.

Through meticulous research and firsthand experience, I uncover the essential steps, software, tools, and costs associated with launching and maintaining a successful business. By demystifying the complexities of entrepreneurship, I provide the guidance and support needed for others to embark on their journey with confidence.

From assessing market viability and formulating business plans to selecting the right technology and navigating the financial landscape, I am dedicated to helping fellow entrepreneurs overcome challenges and unlock their full potential. As a steadfast advocate for small business success, my mission is to pave the way for a new generation of innovative and driven entrepreneurs who are ready to make their mark on the world.