Turbotax small business is tax filing software for small businesses and self-employed individuals. It supports a range of tax forms, and provides guidelines for filing quarterly estimated taxes. It also assists small-business owners with income tax issues associated with rental properties and real estate. Users can get support through live chat or email, and a content hub that covers topics such as taxes and business.
Customers can select from a variety of levels of service, as well as download versions of the software. The simplest version, for sole proprietors and freelancers, begins at $170 for federal filing and $55 per state. TurboTax Business is the premium version that allows S corporations and multimember limited liability businesses.
Intuit’s software reviews your return against a database of 350 credits and deductions, assisting you maximize your refund. It is available on desktop computers, as well as the mobile app as well as the QuickBooks Online https://turbotaxsmallbusiness.com/how-to-choose-a-pos-system-for-a-small-business/ portal.
TurboTax Business requires that you have all your business documents, including your company’s expenses and income, in front of you. The software will help classify your company. For instance, you’ll have to decide whether to make use of the accrual or cash method of accounting.
You can also use the software to determine if you’ve a business expense that’s eligible for a tax deduction. The program is able to track large purchases, and it can assist you in determining your strategy for depreciation. Based on the industry you work in, you may need to submit a variety of taxes, both local and state-wide. In most instances, they are filed through the state’s tax agency.