Turbotax Small Business Review

Turbotax small business offers tax filing software for small-sized enterprises and individuals. It supports a variety of tax forms, and provides instructions on how to file quarterly estimated tax returns. It also assists small businesses manage income tax related to rental properties and real estate. Users can contact support via email and live chat, and an organized library of content includes topics like taxes and business.

Customers can choose from a variety of services and download versions of the software. The basic version for freelancers and sole proprietors starts at $170 for a federal filing and $55 for each state. TurboTax Business turbotaxsmallbusiness.com read is the premium version that supports S corporations and multimember limited liability businesses.

The software from Intuit checks your return against a database of 350 deductions and credits, helping you maximize your refund. It’s available on desktop computers, as well as the mobile application and the QuickBooks Online portal.

To use TurboTax Business, you must have all the business records in front of your eyes that report your company’s earnings and expenses. The software will assist you determine how to categorize your business. For instance, you’ll have to decide if you want to make use of the accrual or cash method of accounting.

The software can be used to determine if you have an expense for business that could be eligible for a deduction. The program can track large purchases, and it can assist you in determining the best strategy for depreciation. Depending on the industry you are working in, you may need to file other forms of taxes, both local and state-wide. In many instances, these taxes are filed by the tax authority of the state.

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