Turbotax Small Business Review

Turbotax small business is a tax filing software designed for small businesses and self-employed individuals. It supports a variety of tax forms as well as guidelines for filing quarterly estimated taxes. It also helps small business owners manage income taxes related to rental properties and real estate. Users can contact support via live chat and email, and a curated content hub provides information on topics like taxes and business.

Customers can pick from 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 for each state. TurboTax Business is the premium version that can be used to support S corporations as well as multi-member limited liability companies.

Intuit’s software reviews your return against a database with 350 credits and deductions, assisting you maximize your refund. It’s available on desktop computers, as well as the mobile app and QuickBooks Online portal.

To be https://turbotaxsmallbusiness.com/avast-business-patch-management-review/ able to use TurboTax Business, you must have all your business data in front of you, which provide your company’s earnings and expenses. The software will help you classify your company. For example, you’ll need to decide whether to employ the accrual or cash method of accounting.

You can also use the software to determine whether you have a business expense that’s qualified for tax deduction. The program can also track major purchases and help you determine a plan of depreciation for your assets. Based on your industry you may have to file a variety of different state and local taxes. In most cases, these are filed through the tax agency of the state.