Handling taxes as a self-employed entrepreneur can feel overwhelming. From tracking expenses to calculating deductions, the process is time-consuming and often complicated. Without the right tools, filing taxes can lead to mistakes, missed savings, and added stress.
The good news? With the right tax software, you can streamline this process, save valuable time, and even uncover deductions that you might have overlooked. This blog is your guide to the best tax software options for self-employed professionals. We’ll help you find a tool that fits your needs and ensures you make the most of every dollar.
Here’s what you’ll learn:
- The key criteria to consider when evaluating tax software
- Detailed reviews of top-rated software
- A handy comparison chart with key features and pricing
- Our top recommendation to make tax season stress-free
What to Look for in Tax Software
When choosing tax software, not all tools are created equal. The needs of a self-employed entrepreneur are unique, and the right software should address them. Here are the main criteria to keep in mind:
1. Ease of Use
Tax season is challenging enough without having to deal with a complicated interface. Look for intuitive software with easy-to-navigate dashboards, step-by-step instructions, and a clean user interface. Bonus points for platforms that use plain language instead of confusing tax jargon.
2. Features for Self-Employment
Not all tax software caters to freelancers, gig workers, or small business owners. Key features to look for include:
- Income Tracking: Ability to import income from various sources like 1099 forms and invoices.
- Expense Tracking: Simplifies deductions by categorizing business expenses automatically.
- Schedule C Supported: Ensure it provides robust support for self-employed tax forms.
- Deduction Suggestions: Helps uncover potential tax savings you might miss on your own.
3. Customer Support
Software that offers reliable customer support is crucial. Whether through live chat, phone, or email, access to tax professionals or technical assistance ensures smooth problem resolution.
4. Price
Affordability matters, especially if you’re bootstrapping your business. Some software options include free versions, while others charge an annual fee. Look for transparent pricing and check if the cost includes all features or if there are hidden add-ons.
5. Integrations
If you already use tools like QuickBooks, PayPal, or Excel to manage your finances, check whether the tax software integrates with these platforms. This ensures seamless data transfer and saves valuable time.
Now that you know what to look for, let’s explore the best tax software options for self-employed entrepreneurs.
Top Tax Software for Self-Employed Entrepreneurs
1. TurboTax Self-Employed
TurboTax is one of the most recognized names in tax software, and its self-employed version is tailored for freelancers and small business owners.
Key Features:
- Automatically imports 1099 forms and expenses from platforms like Uber, Etsy, and QuickBooks.
- Offers real-time deduction suggestions as you input your data.
- Includes access to TurboTax Live, where you can consult with tax experts or even have them file on your behalf.
- User-friendly interface with step-by-step guidance.
Pricing:
- Starts at $119 for federal filings ($59 per state filing).
- Discounts are often available closer to tax season.
Best for:
Freelancers who value ease of use, detailed guidance, and access to expert help.
2. H&R Block Self-Employed
H&R Block’s trusted name and robust features make it a great choice for self-employed individuals.
Key Features:
- Supports Schedule C and provides personalized guidance for self-employed users.
- Expense deduction finder to ensure you don’t miss potential savings.
- Integration with Stripe and other payment processors to track income and expenses.
- Real-life tax experts available via live chat or in-person at H&R Block offices.
Pricing:
- Starts at $85 for federal filings ($44.99 per state filing).
- Online Assist plan with unlimited expert help starts at $145.
Best for:
Entrepreneurs who want the option of both online support and in-person assistance.
3. Cash App Taxes (formerly Credit Karma Tax)
If you’re looking for a budget-friendly option, Cash App Taxes is a free tax filing software with surprisingly comprehensive features.
Key Features:
- Completely free for federal and state tax filings, regardless of income or complexity.
- Supports many forms, including Schedule C, for self-employed individuals.
- Expense deduction tools with no hidden fees.
- Simple interface that’s ideal for tech-savvy users.
Pricing:
- 100% free.
Best for:
Budget-conscious entrepreneurs who have straightforward tax situations.
4. TaxSlayer Self-Employed
TaxSlayer combines affordability with self-employed features, making it a great middle-ground option.
Key Features:
- Tailored for self-employed users filing Schedule C.
- Provides a fully guided experience for first-time business filers.
- Integration with financial platforms for easy income import.
- Priority access to tax professionals for technical questions.
Pricing:
- Starts at $49.95 for federal filings ($39.95 per state filing).
- Add-ons for audit defense or access to an accountant.
Best for:
Entrepreneurs filing taxes on a budget but still wanting expert guidance.
Tax Software Comparison Chart
| Software | Features | Federal Price | State Price | Best For |
|---|---|---|---|---|
| TurboTax Self-Employed | Deduction suggestions, expert help | $119+ | $59 | Comprehensive guidance |
| H&R Block Self-Employed | Personalized advice, in-person option | $85+ | $44.99 | Online and in-person support |
| Cash App Taxes | Free filing, Schedule C support | Free | Free | Budget-conscious entrepreneurs |
| TaxSlayer Self-Employed | Affordable, expert access | $49.95 | $39.95 | Simple, budget-friendly filing |
Why the Right Tax Software Matters
Taxes can be a headache, especially when you’re juggling entrepreneurial responsibilities. The right tax software simplifies the process, giving you more time to focus on growing your business while maximizing deductions and avoiding costly errors.
If you’re just getting started or looking to switch from your current tool, we recommend TurboTax Self-Employed for its comprehensive features and expert access. But if you’re on a tighter budget, Cash App Taxes is a fantastic free alternative.
Take the Stress Out of Tax Season
Still not sure which software suits your needs? Start with free trials of the platforms we’ve covered and see which works best for your business.
Don’t leave deductions on the table. Invest in reliable software and make tax season one less thing to worry about.