Most business owners must ponder this question each year: “Should I prepare my taxes or should I pay a tax preparer?” The issue with self-prepared taxes is that people spend a lot of time collecting the necessary paperwork. If they are unfamiliar with where things go, they might even make blunders. With the development of technology, many business owners are opting to work shrewdly rather than laboriously. Because time is money, they would rather pay a tax preparer to handle the paperwork so they can focus on prospecting and generating revenue. In this piece, I’ll cover all you need to know about the Intuit ProSeries Tax Software Service reviews, how much it cost, and how it can help you and your clients.
What is Intuit ProSeries Tax Software?
One of QuickBooks creator Intuit’s offerings is the ProSeries tax preparation software. It provides a virtual office for filing taxes. Your data can be simply entered, and the program will instantly compute and file your taxes electronically. The tool will keep track of any mistakes you make when submitting your taxes and notify you.
The program is mostly intended for accountants. However, Intuit offers live training, webinars, and video lessons that make it simple for you to use the dashboard and better serve your clients.
Types of ProSeries Software
There are two packages available for the ProSeries software service: basic and professional. The Professional plan is for professionals who handle both individual and business tax returns, while the Basic package is for entry-level accountants or individuals who want to file their tax returns.
#1. Intuit’s ProSeries Basic Edition
Individuals can use Intuit’s ProSeries Basic edition. You can invite your client to engage with you on the program and navigate the user interface with ease. For its ProSeries Basic edition, Intuit provides three plans. Basic 20, Basic 50, and Basic Unlimited are the three.
Basic 20
This is where you should start if you are new to accounting. You can access 20 1040 returns—the main tax return form used to file individual taxes in the United States—by making an annual investment of $519 in Basic 20. You get access to 20 different returns under the plan, all from the same state. At an additional cost, you can file more business taxes in addition to state and federal returns.
Basic 50
The annual cost of this plan is $799. 50 Federal 1040 and State returns (for just 2 states) may be filed. However, you can add more states for an additional cost. The program supports over 1000 forms and provides free electronic filing. To keep you organized, there is a HomeBase and a guided workflow. A tax planner and a direct download of data from more than 275 financial institutions are included. Electronic signatures are supported by Basic 50 as well.
Basic Unlimited
Simply pay $1259 to receive perpetual access to everything the ProSeries Basic edition has to offer. You will have unrestricted access to State returns (for just 4 states) and Federal 1040 forms. The Basic edition’s additional features, such as free electronic filing, an electronic signature, and a tax planner, are also available to you.
#2. Automatic Data Conversion
The software can assist you in converting your data from the prior Tax Year if you were using another tax preparation program and wish to switch to Intuit’s ProSeries. Only a few items will be moved during this process; not all of them.
#3. Technical Support
ProSeries provides new customers with technical help. The customer service representatives know a lot about the program. So, when you contact for assistance, don’t anticipate your call being transferred.
#4. Training Portal
You can find all of the training materials here that are pertinent to the plan you selected. Additionally, you may sign up for webinars or receive alerts when free in-person training sessions are scheduled nearby.
#5. Success Guide
When you need it, Intuit will provide you with the information you require. You’ll get emails after signing up that walk you through the download and installation procedures. Additionally, you will receive a checklist that will walk you through the process of data conversion, electronic filing identification number verification, and other ProSeries Tax software setup procedures.
Cost of Proseries Tax Software
The pricing page on the website makes the cost of the Ultimate Tax packages quite apparent. The cheapest package costs $288 ($15 for each return), while the most costly package costs $888.
Depending on the bundle, the cost of Intuit ProSeries tax software varies. However, it is a great deal more expensive than Ultimate Tax. Price ranges for ProSeries Basic packages range from $519 to $1,299. ProSeries charges $53 for the same service as Ultimate Tax, which charges roughly $15 for each return. Additionally, ProSeries does not disclose the price of its programs upfront.
Intuit ProSeries tax software Professional Edition
The professional edition of ProSeries assists accountants in preparing taxes for medium-sized to large businesses. It is also appropriate for people who have a high requirement for tax preparation. Pay-Per-Return, Choice 300, 1040 Complete, and Power Tax Library are among its 4 plans.
#1. Pay-Per-Return
This plan is a pay-as-you-go option, as the name suggests. Even though the plan costs $369, you only pay $49 for each 1040 Federal return and $46 for each State return. It offers resources that make working with clients easier while also offering them the best value for their money. These include the presentation, checklist, and client advisor.
#2. ProSeries Choice 200
Only new customers who produce up to 200 returns for clients with diverse tax demands are eligible for this plan. It supports 1040 NR and 1040, as well as the following federal, state, gift, and estate returns: 706, 709, 990, 1041, 1065, 1120, and 1120S. You will be charged $46 for each State return after the first 200 have been used.
#3. 1040 Complete
People who prepare more than 30 1040 Federal and state taxes should use this plan. It costs $1999 a year for an unlimited number of the 1040s, however, each State business return and each 1040 NR cost $46 and $49, respectively.
The program can be hosted in the cloud, and you can invite many people to enjoy it with you. You can access client assistance tools, the Intuit Link portal, and direct financial institution data downloads if you file electronically for free.
#4. Power Tax Library
Unlimited 1040, 706, 709, 990, 1041, 1065, 1120, and 1120S Federal, State, gift, and estate tax returns are available in the ProSeries power tax library. Additionally, it provides free client service tools, cloud hosting, multi-user access, e-filing, and e-signature.
What Makes Intuit ProSeries a Good Tax System Software?
What makes Intuit ProSeries an excellent tax system software is as follows:
- Its user interface is friendly.
- It swiftly detects mistakes and notifies you to correct them.
- A 30-day free trial is available.
- It has a function for automatic calculating.
- It provides online peer-to-peer support communities, a 24/7 information center, and technical help.
- By using the rapid entry sheet, you can avoid scrolling to find the forms.
- You have the choice of using it on your desktop or in the cloud.
Who Are the Typical Users of Intuit ProSeries tax software?
Accountants who assist taxpayers in preparing their tax returns frequently utilize Intuit ProSeries tax software. The software enables you to file taxes more quickly and easily regardless of your level of experience.
The software is very simple to use if you’re a freelancer or wish to file your taxes independently. It assists you in locating the precise form you require, recommends the appropriate information to enter in each field, and performs all the calculations.
Proseries Tax Software Reviews
In their reviews of ProSeries tax software, users praised the client resources’ accessibility, particularly the client analyzer and client presentation tool. The software garnered great accolades for its user-friendly dashboard and ease of use. However, one of the objections is that it’s challenging to justify its cost if you’re not employing it for several returns.
Dealing with multi-state returns was a headache, according to some Intuit ProSeries tax software reviews.
On well-known reviews websites, ProSeries Professional received the following typical ratings:
- Capterra: 4.1 out of 5 based on about 145 reviews
- G2: 4.2 out of 5 based on around 85 reviews
What Are the Benefits of ProSeries Tax Software?
The advantages of using Intuit ProSeries tax software are as follows:
#1. Quick and Accurate Calculation
There are many computations in accounting, and humans have a propensity toward error. To prevent human error, the ProSeries software calculates returns automatically using the supplied data. This makes you more productive by cutting the time it takes to prepare taxes.
#2. Improvements in Client Communications
ProSeries from Intuit has a better method of interacting with customers. Your customers can submit their documents more quickly via the Intuit Link. On the platform, you may also exchange data with them. You may more easily organize the data for each client thanks to this.
#3. Reduces time
It is not worthwhile to use tax preparation software if it does not enable you to reduce the amount of time required to process tax returns. ProSeries prevents the stress of continually entering data, thus this is not the case.
#4. Cost-Effective
ProSeries has superior capabilities at a competitive price when compared to other tax preparation software. Pay as you go or annually are both options. Additionally, the business provides free trials with full access to the program’s features and savings for brand-new clients.
Top Add-ons For ProSeries Tax Software
You may connect a variety of add-ons with ProSeries to improve your productivity. The top add-ons are listed below.
#1. Cloud Hosting
The professional edition of ProSeries offers the option of cloud connectivity. This indicates that you can use the app anywhere, including on your desktop. Your team members can also be given multi-user access so that you can all review files uninterrupted.
#2. E-Signature
You can simply obtain your clients’ signatures while submitting tax returns. Your customers can quickly sign in and view the request from any internet-enabled device. When they sign the forms, Intuit will let you know.
#3. Pay-by-Refund
Some customers may not be able to pay in full upfront for your services, but with pay-per-refund, they may. You have the option of getting paid by check, prepaid card, or direct deposit. The procedure of signing up is simple and quick.
#4. Document Management System (DMS)
The ProSeries document management system enables you to go paperless and increases your tax preparation productivity. Documents may be instantly scanned and saved on your computer. Directly from your computer, you may also fax or email papers.
#5. Intuit Quick Employer Forms Accountant
By responding to a few simple questions, this web-based solution enables you to produce payroll forms (the 1090s and W-2s) for the workers and contractors of your clients. After you’ve reviewed the forms, Intuit will electronically submit them to the IRS. After that, you can print them off and mail them to the intended recipients.
#6. Intuit Link
Through the usage of this portal, you may easily get data from your clients by inviting them to use Link. You can keep tabs on the request’s progress and, if necessary, follow up. You will be informed to import the data after the request has been fulfilled. The portal is protected because all messages are encrypted thanks to Intuit.
#7. Tax Scan & Import
Data from a scanned document can be imported with just a few clicks. You can change data before importing it using the form reviewer feature in ProSeries tax scan & import. It supports schedule K (1065, 1041, and 1120-s), W-2s, 1099s, 1098 mortgage, and consolidated brokerage statements. Your data is protected by 128-bit encryption, which is used by Intuit.
What Are the Features of ProSeries Software?
The following are some of ProSeries software’s features:
#1. Integration for Additional Functionality
Electronic signatures are incorporated into ProSeries’ software. This enables you to gather client digital signatures and monitor the status of papers in real time from your ProSeries home page. You can convert selected data from any other tax software you were using or directly import financial data from QuickBooks.
#2. Easy Data Entry
Because Intuit strives to make its applications simple to use, its tax preparation software enables you to input data quickly by assisting you in identifying the source of a certain field’s data or in comprehending the kind of information you should enter in a given field.
#3. Client Management
With the help of ProSeries’ capabilities, you can effectively manage each of your clients from a single screen. Viewing, managing, and following up on your filed taxes is simple. To prepare for upcoming events, you can also monitor the status of your client’s returns.
You can lock a return after you file it to prevent changes to the calculation until your client has given you all the necessary information. ProSeries will alert you if it finds any updates, so you may accept them and continue with the e-filing.
What Is Proseries Tax Software?
The tax preparation process is managed by ProSeries, a piece of software, from automatically gathering and importing data through submitting returns, enabling you to file returns.
What Is Proseries Used For?
Intuit. Utilizing tax return data gathered from your ProConnect Tax or Lacerte software, automatically generate tax plans for clients.
Can You Import From Turbotax to Pro series?
Yes. For the same tax year, individual tax returns prepared with TurboTax desktop or TurboTax for Mac can be uploaded directly to ProSeries Professional or ProSeries Basic.
What Is the Largest Tax Software Company?
With its straightforward interface, TurboTax makes it simple and quick to file your taxes. It is the best for ease of filing since it offers a clear online experience on PC and mobile that meets the majority of tax filers’ needs. The biggest vendor of tax preparation software in the US is TurboTax.
What Is the Difference Between Lacerte and Pro series?
Accounting businesses can use the cloud-based tax administration tool Intuit ProSeries Tax to prepare returns, submit electronic forms, and more. A complete business tax return program that can handle both simple and complex returns is called Lacerte Tax.
Who Has the Best Tax System?
The world’s best tax system is found in Estonia. On retained and reinvested profits, there is no corporate income tax (although the rate on distributed gains is between 14 and 20 percent).
What Are the Top 3 Tax Firms?
The top accounting companies by revenue are as follows:
- Deloitte – $59.3 billion (Deloitte Info)
- PwC – $50.3 billion (PwC Info)
- EY – $45.4 billion (EY Info)
- KPMG – $34.64 billion (KPMG Info)
Conclusion
Numerous tools are offered by ProSeries Professional to meet the requirements of small and medium-sized organizations. The program provides a selection of packages and access to useful resources, including tax planning advice, except for Form 5500.
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