TaxWise Online VS TaxWise Desktop — Which One Is Better?

We live in a highly competitive world where technology has become integral to our professional lives. We all have to integrate one or the other software to boost efficiency and productivity. This is also true for tax professionals, who rely on different software to streamline their workload and boost efficiency.

So, if you are a tax professional, choosing the right tax preparation software is crucial, yet it can be confusing, especially if you have to decide between TaxWise Online and TaxWise Desktop.

Both products from Wolters Kluwer are designed to assist tax professionals. But they have different characteristics and advantages. With TaxWise Online, you have the freedom to work from any location with Internet access.

TaxWise Desktop offers a high-performance solution in a package you download and run on your computer. You can customize the program, control data, and much more.

Both sound excellent. The point is that it is essential to understand these distinctions well, avoid confusion, and select the right tool for your practice.

How will you do that?

Well, let’s explore both products so you can easily decide. We will start with TaxWise Online.

TaxWise Online

In simple words, TaxWise Online is software that offers the powerful and user-friendly features of TaxWise Desktop in a web browser.

This cloud-based program allows tax professionals to access and work on their clients’ returns from anywhere, making it a flexible and convenient option.

TaxWise Online’s Key features

Multiple devices: Tax preparers can use broadband internet to access TaxWise Online servers securely. They can also prepare and submit returns online using a laptop or a tablet or even access it on their smartphones.

Online Vault: As the name suggests, it also offers an online storage facility to assist accountants in organizing their client’s documents safely.

eSignature: This feature helps access electronic signing from anywhere to ensure the work flows seamlessly.

Client Portal: It also offers a secured two-way file-sharing system that stores documents online.

TaxWise Mobile: The mobile app is designed to assist in interviewing taxpayers.

Custom Template: The online option is flexible and allows us to bring forward the previous year’s custom return templates, saving time in creating the current year’s software.

Override Control: The admin can control the override feature in returns.

Next, what kind of browser support is required for TaxWise Online?

According to the makers, professionals should use the latest versions of Google Chrome and Microsoft Edge for the best experience.

PRICING

If you are interested in TaxWiseOnline, four price packages are available, starting at $1,565. There is also a deferred payment option.

TaxWise Online also offers a Single Office Package for $3,293. This package includes multiple features except Previous Year Individual 1040 & Business E-File, which would cost $5.50.

TaxWise Desktop

TaxWise Desktop can be easily installed on local computers and run without internet connectivity. This version provides comprehensive support for various forms, ensuring smooth return filing.

It provides access to 1040 individual and 1065 forms and forms 1120, 11205, 1041, 706, 709, and 990. This support enables precise and perfect submissions.

TaxWise Desktop Features

Control and Privacy: It runs directly on local hardware and doesn’t require the internet, providing complete control of software installation and data storage.

It is best suited for those who prefer a quick and responsive experience in their tax preparation workflow. It is also apt for those who are concerned about privacy or compliance.

Customization and Add-ons: Like the online version, you can make the best of the add-ons.

Initial Cost and Maintenance: Since this is a single-time purchasing expense or an annual license fee, the long-run costs are generally, less than subscription-based models. It needs updates and maintenance, which includes installing software upgrades, data backup, etc.

Backup and Disaster Recovery: In this version, the user or IT team is responsible for data backup and recovery.

Pricing

Taxwise Desktop also has four pricing packages, just like online. It also has a single office package that costs $3,293.

Deciding on an Option

Consider costs to help you decide between these two options. Look at upfront and ongoing maintenance expenses for both solutions to determine which will provide the most sustainable support based on your current budget and future business growth projections.

Here are some key features you should compare before deciding whether TaxWise Online is more competitive or whether TaxWise offline desktop is the best tax program.

Scalability: TaxWise Online is a scalable, team-oriented package that works well for small teams or solo practitioners. Existing Taxwise Desktop users might need to choose which functionality they want versus the control and customization of their current software.

Workflow and Availability: Consider whether your tax operations require remote/WAN access and real-time collaboration with other preparers/bookkeepers/partners/staff (such as via a web browser); satisfied with working offline is ok and local control over files.

Security & Compliance: Review which data security requirements and compliance obligations apply to your industry or client base. This will help you choose the appropriately certified solution.

TaxAct Online vs. TaxAct Hosting

TaxWise Online and TaxWise Hosting support tax professionals but offer different advantages. TaxWise Online provides essential cloud access, allowing you to work from anywhere.

However, TaxWise Cloud Hosting significantly benefits firms that prioritize flexibility, data security, and reliable support. With TaxWise Hosting, your data is stored in a secure, managed cloud environment, reducing the risk of data loss and downtime.

It’s ideal for firms needing a high-performance solution with top-tier security. TaxWise Hosting delivers the dependable access and protection professionals need to work efficiently and confidently when handling sensitive financial data.

Conclusion

In the end, you should decide between TaxWise Online and Desktop based on what features you need and how much it costs compared; running a combination of them according to your operating preferences is advisable for these answers not to affect performance.

Once you understand these significant differences, it will help you make the right decision.