Turbotax small-sized business provides tax filing software to small businesses and individuals. It supports a variety of tax forms and offers instructions on how to file quarterly estimated tax returns. It also helps small-business owners with income tax issues that are related to rental properties as well as real estate. Users can reach support via live chat and email, and a content hub covers subjects like taxes and business.
Customers can choose from multiple service tiers and downloadable versions of the software. The https://turbotaxsmallbusiness.com/read-detailed-board-software-reviews/ basic offering for freelancers or sole proprietors starts at $170 for federal filing and $55 for each state. TurboTax Business is the premium version that allows S corporations and multimember limited liability businesses.
Intuit’s software compares your return to the database of 350 deductions and credits, helping you maximize the refund. It is available on desktop computers, as well as the mobile app and QuickBooks Online portal.
To utilize TurboTax Business, you must keep all your business documents before you that include your company’s earnings as well as expenses. The software will help classify your company. You’ll need decide, for example whether you’d like to use the accrual or cash method of accounting.
The software can be used to determine if you have a business expense that can be deducted. The program can also track major purchases and help you decide on a strategy to depreciate your assets. Based on the field you are working in, you may need to file other forms of state and local tax. In most instances, these taxes are filed by the tax authority of the state.