Turbotax small business provides tax filing software to small-sized businesses and individuals. It offers a variety of tax forms and offers instructions on how to file estimated tax returns for the quarter. It also helps small business owners with income tax click turbotaxsmallbusiness.com issues in connection with rental properties and real estate. Users can contact assistance via email or live chat, and an extensive library of content includes topics like taxes and business.
Customers can select from several options for service levels and downloadable versions of the software. The basic offering for sole proprietors or freelancers starts at $170 for federal filing and $55 for each state. TurboTax Business is the premium version that is compatible with S corporations as well as multi-member limited liability businesses.
Intuit’s software reviews your return against a database of 350 credits and deductions to help you maximize your refund. It’s available for desktop computers as well as the mobile app and the QuickBooks Online portal.
To use TurboTax Business, you must have all your business data in front of your eyes that show your company’s profits and expenses. The software will help classify your company. You’ll need to decide, for example whether you’d prefer to utilize the accrual or cash method of accounting.
The program can be used to determine if you have an expense for business that is eligible for a deduction. The program can also monitor large purchases and help you identify a strategy for depreciation for your assets. Depending on your industry it is possible that you will need to file a variety of different local and state taxes. In most instances, these taxes are filed through the state’s tax agency.
