Turbotax small business is a tax filing software that is suitable for small-sized businesses and self-employed people. It supports a variety of tax forms and offers guidance on how to file quarterly estimated taxes. It also assists small companies manage tax issues related to rental property and real estate. Users can contact assistance via email or live chat, as well as a curated hub of content includes topics like taxes and business.
Customers can select from several services and download versions of the software. The most basic offering for sole proprietors and freelancers, starts at $170 for federal filing and $55 per state. TurboTax Business is the premium version that can be used to support S corporations and multimember limited liability businesses.
The software of Intuit compares your tax return against a database with 350 credits and deductions, which helps you maximize your refund. It’s available on desktop computers as well as the mobile app and the QuickBooks Online portal.
To utilize TurboTax Business, you must have all your business records before you that include your company’s earnings as well as expenses. The software will help you classify your company. You’ll need to decide, for instance whether you’d prefer to utilize the accrual or cash method of accounting.
The software can be used to determine if you have a business data room de expense that is deductible. The program can help you track major purchases, and can help you determine the best strategy for depreciation. Based on the industry you work in you may have to file a variety of different local and state taxes. They are typically submitted through the state tax agency.
