TurboTax for Small Business Review

If you’re self-employed, run a side business, or are running an enterprise full-time, TurboTax offers expert help for a reasonable price. The software streamlines tax filings, making it simpler to claim deductions. It can even help you manage your company’s expenses and calculate quarterly estimated payments.

The IRS might require you to prepare quarterly tax returns and pay estimated taxes. These payments are made quarterly to save you from being penalized for not paying. The payments can be made online, through the Electronic Federal Tax Payment System or via mail.

TurboTax for Small Business helps you claim every deduction available to you – even deductions for a home office and health club membership and investment properties. It can also help you save money by identifying tax deductions for your business and reduce the amount of taxes. It also imports automatically 1099MISC and W-2 forms, making it simple to submit for employees, contractors and other workers who are independent.

The software lets you file a variety forms for incorporated businesses, such as S Corporations, Partnerships (GP, LP or LLP) or Single-Member Limited Liability Companies (LLC). It also lets you create unlimited W-2 and 1099-MISC forms for employees and contractors and includes K-1 forms for estates and trusts. Its asset depreciation function helps you determine the most effective tax strategy for your Shopify Review assets.

This version of TurboTax for Small Business comes with a Full-Service option, which connects you with an experienced tax professional who can answer your questions via video conference or directly. This service might not be available in all states, and might cost more.

Leave a Reply