Tax time is coming, and Australian taxpayers are experiencing increased stress as they hope for a fast and accurate way to lodge their tax returns. Consequently, choosing the best tax software for lodging your tax returns is crucial. By considering TaxTank, you will ensure that you claim every possible deduction to which you are entitled.
In your process to find the best tax platform, you may wonder how Zoho compares to TaxTank. Zoho is an Indian multinational technology company that makes web-based business tools for businesses. It has developed Zoho Books, an online accounting software portal designed for businesses. Zoho is for businesses. TaxTank is for people that want to run their life like a business.
Sure, you may be self-employed, run a small to medium-sized business, own property, or just draw a full-time wage working for the man. Whatever. TaxTank has you covered when it comes to getting the best possible tax return.
TaxTank
TaxTank is an Australian software company dedicated to creating solutions to help everyday Australians claim their fair share, legally. TaxTank transformed the tedious activity of tax returns via their innovative and easy to use software.
Zoho
Zoho Books is online accounting software that manages finances, keeps you GST ready, automates business workflows, and helps you work collectively across departments. It has been designed for small businesses.
Let’s break them both down!
Pricing
TaxTank has been built as a modular system, so you only pay for what you need. The Essentials subscription is $9/month and then you can add or upgrade as your financial situation requires.
To conduct tax returns in Zoho you will need to start with the Zoho Books option. It starts at $16.50/month and has been created for small businesses. However, starting at $9/month TaxTank provides a more affordable, user-friendly and feature-rich service for managing all of your different income types and expenses (ie. work incomes, properties, investments etc) whilst minimising tax along the way with smart tax tools. Plus, it’s latest feature ‘Sole Tank’ will enables simple invoicing and reporting for your micro-business all from the same platform. A simple one stop shop, customisable to you.
Capabilities
The most important tool you have in developing an ideal tax experience at tax time is having an intuitive and user-friendly tax platform at your fingertips. It should not only guide users through their input of data but also provide them with the tools they need to get the best outcome for their return.
Detailed itemisation
TaxTank guides both new and experienced users through the process of filing their tax returns online with its MyTax report (for self-lodgers) or you can invite your accountant and advisors to take the hassle out of tax time. Its user interface and navigation options are far superior to Zoho. Zoho offers a range of standard reports to track lodgements and the process of generating reports appears very clunky and needs work.
Live data feeds
TaxTank provides access to live data feeds but Zoho does not have this capability as yet within the Zoho Books Accounting portal.
Secure document storage
TaxTank offers permanent document storage year after year to protect you from an ATO audit. Zoho offers safe and secure cloud storage capacity, but it is at an increased cost.
TaxTank gets you the best possible tax returns
Every professional tax platform should provide speed, security and stability. Choosing the right tax platform is an important decision.
- Speed – TaxTank has superior process efficiency and time-saving.
- Security – As a tax platform, it’s important to keep your user’s data secure. TaxTank offers permanent and secure document storage.
- Stability – Lodge through MyTax with 100% confidence.
Final thoughts
If you want to learn more about how to optimise your tax return, visit TaxTank today. With our easy-to-use platform and expert support, we’ll help you get the most out of your tax return this season.
