Turbotax small business is tax filing software for incorporated small-sized businesses and self-employed people. It supports a range of tax forms and provides guidance for filing quarterly estimated taxes. It also assists small-business owners to manage their income taxes that are related to rental properties as well as real estate. Users can seek assistance via email or live chat, and an organized library of content covers topics such as taxes and business.
Customers can select between a variety of levels of service, as well as download versions of the software. The most basic version for sole proprietors and freelancers, begins at $170 for federal filing and $55 per state. The higher-end version, dubbed TurboTax Business, provides support for S corporations and multi-member limited liability businesses.
Intuit’s software reviews your return against a database of over 350 credits and deductions to help you maximize your refund. It’s available on desktop computers, the mobile app as well as the QuickBooks online portal.
To utilize TurboTax Business, you must have all your business records in front of you that provide your company’s earnings and expenses. The software will then help you decide on the best way to categorize your business. For example, you’ll need to decide whether to make use of the accrual or cash method of accounting.
You can also use the software to determine if there is an expense for business that is eligible for a tax deduction. The program can monitor major purchases, and can assist you in determining the best strategy for depreciation. Depending on the type of business you Avast Business operate in you may have to submit a variety of state and local taxes. These are often filed by the tax department of the state.