As if filing personal tax returns was not tedious enough, business owners have to stress about filing returns for their business too. But in a world where everything is quickly moving towards automation, why should corporate tax matters remain manual and full of manual paperwork.

Impediments like legal complications and employee rights make the usage of corporate tax software a little complicated, but sooner or later, the transition of corporate tax affairs to being fully automated is inevitable. It is then essential for business owners or tax managers to know what type of tax software they should be looking for in their firm.

There are two main types of tax software out there.

·         Custom-built solutions

·         Off-the-shelf ready to use solutions

Off-the-shelf solutions are same for all buyers and offer the same functionalities for everyone. Although developers of such tax software try their best to make an all-in-one package that all types of businesses can benefit from, this type of tax software is very general-purpose and fails to meet the contrastingly intricate needs of different businesses.

Here is a list of reasons why you should opt for custom-built corporate tax software rather than a no-code option:

1.       Users have to face a lot of inconveniences when they encounter a problem with their off-the-shelf tax software and have to contact customer support. The customer support departments of no-code tax software are already flooded with complaints and queries, increasing the time between you asking a question and getting a reply. Business owners need swift problem-solving, which custom software can provide.

2.       Off-the-shelf solutions do not cost you a fixed price. They will charge you according to your income and returns, as all of this information goes through them. This can lead to low-code tax solutions being more expensive than users expect.

3.       The cost you are told at the time of purchasing an off-the-shelf software is rarely the total operational cost. Such software are infamous for charging extra for necessary tax filing features, instantly increasing the cost of using that software when you have no other option left.

4.       Some ready-to-use tax software are very hard to learn and can take you ages to become familiar with. On the other hand, you can choose the controls and shortcuts yourself to make using the tax software easier for you and your employees.

5.       Not all no-code tax filing solutions are compatible with all operating systems. After buying the product, one may encounter that they can’t use it on their Android smartphone or Linux PC. This can be a big inconvenience, so to be on the safe side, you should choose a custom solution and ensure that it is compatible with all of the operating systems your firm uses.

Generally, no-code corporate tax software are for businesses that have relatively simple tax affairs. But this luxury is not enjoyed by all business owners. More often than not, off-the-shelf solutions fail to work with complicated tax filing, and users end up buying custom software for their particular requirements. So why not do it earlier?