Turbotax Small Business Review

Turbotax small business provides tax filing software for small-sized companies and individuals. It supports a variety of tax forms and offers instructions on how to file your quarterly estimated taxes. It also helps small businesses manage income tax associated with rental properties and real estate. Users can receive assistance via email or live chat, as well as a library of information includes topics like taxes and business.

Customers can choose from multiple service tiers and downloadable versions of the software. The basic offering for sole proprietors or freelancers begins at $170 for a federal filing and $55 for each state. TurboTax Business is the premium version that allows S corporations and multimember limited liability businesses.

The software of Intuit compares your tax return against a database of over 350 deductions and credits, helping you maximize your refund. It’s available on desktop computers, mobile apps as well as the QuickBooks online portal.

TurboTax Business requires that you have all of your business records, including the company’s earnings and expenses in front of you. The software will help classify your company. For example, you’ll need to decide if you’d prefer to employ the accrual or cash method of accounting.

The software can also be used to determine whether you have a business expenditure that is eligible for a deduction. The program can also monitor major purchases and help you identify a strategy for depreciation for your assets. Based on your industry you may be required to file a variety of other taxes, both local and state-wide. In many instances, they are filed through the state’s tax agency.

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