Tax filing prep organises the records your accountant or tax preparer needs at year-end — or quarter-end for sales tax and VAT filers. It generates categorised expense summaries, income reports by stream, depreciation schedules, and a trial balance that matches your books exactly, because it reads the same general ledger that ran your business all year.
No add-on tiers, no feature gates — this is what the module ships with, included in every plan.
One action assembles the P&L, balance sheet, trial balance, and general ledger extract for the fiscal year — formatted to hand directly to a CPA or tax preparer.
Review and correct GL account assignments for every expense before filing; a bulk-recategorise tool handles large corrections in seconds rather than line by line.
Fixed assets module feeds a depreciation schedule into the filing-prep report automatically, including beginning book value, current-year depreciation, and ending basis.
Pull payments to contractors from vendor records, filtered by payment threshold, ready for 1099-NEC preparation — no separate spreadsheet to compile.
Generate state-by-state sales tax collected or jurisdiction-level VAT reports for quarterly filings, drawn directly from the sales tax automation module's posted data.
Invite your external accountant to a read-only view scoped to the filing-prep reports and supporting ledger detail; they get everything they need without a data export back and forth.
TaxAct Business is a filing tool, not a bookkeeping system — you still have to get your books into shape before you can use it. When the books live here, tax prep is already 80% done.
Start free with VCard & Link-in-Bio. Turn on Tax filing prep and the rest of the catalog from one flat plan — no per-seat fee, ever.