Turbotax Small Business Review

Turbotax small business is a tax filing software that is suitable for small-sized businesses and self-employed people. It supports a variety of tax forms, and provides instructions for filing quarterly estimated taxes. It also helps small-business owners with income tax issues related to rental properties and real estate. Users can receive support via email and live chat, and an organized library of content covers topics such as taxes and business.

Customers can choose between multiple service tiers, and download versions of the software. The basic offering for sole proprietors or freelancers starts at $170 for federal filing and $55 for each state. The more expensive version, known as TurboTax Business, provides support for S corporations as well as multi-member limited liability companies.

The new article turbotaxsmallbusiness software from Intuit compares your tax return to a database of 350 deductions and credits, helping you maximize the refund. It’s available on desktop computers, the mobile app as well as the QuickBooks online portal.

TurboTax Business requires that you have all of your company records, including your company’s income and expenses, in front of you. The software will help you categorize your company. You’ll need to decide, for example, whether you want to employ the accrual or cash method of accounting.

You can also use the program to determine if you have any business expenses that are suitable for a tax deduction. The program can also track major purchases and help you identify a strategy for depreciation for your assets. Depending on the industry you work in, it is possible that you be required to file additional taxes, both local and state-wide. These are often filed through the state tax agency.