Turbotax small business is tax filing software that is suitable for small-sized businesses and self-employed people. It supports a variety of tax forms and provides guidance on filing estimated tax payments for the quarter. It also helps small businesses manage income tax related to rental properties and real estate. Users can get assistance via email and live chat, and a curated hub of content covers topics such as taxes and business.
Customers can choose between multiple service tiers, and download versions of the software. The most basic offering for sole proprietors as well as freelancers, starts at $170 for federal filing and $55 per state. The premium version, called TurboTax Business, provides support for S corporations as well as multi-member limited liability companies.
The software of Intuit matches your return to the database of 350 credits and deductions to help you maximize your refund. It’s accessible on desktop computers, the mobile app, and Discover More about turbotax small business the QuickBooks online portal.
TurboTax Business requires that you have all your business records, including your company’s earnings and expenses in front of you. The software will assist you determine how to categorize your company. For example, you’ll need determine whether you’ll make use of the accrual or cash method of accounting.
You can also use the software to determine whether you have any business expenses that are qualified for tax deduction. The program can monitor large purchases, and it will help you decide on your strategy for depreciation. Depending on your industry you may have to file a variety of other taxes, both local and state-wide. These are often filed by the tax department of the state.
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