Turbotax small-sized business provides tax filing software for small-sized businesses and individuals. It supports a variety of tax forms and offers instructions for filing estimated tax payments for the quarter. It also helps small-business owners to manage their income taxes associated with rental properties and real estate. Users can contact assistance via email or live chat, and an organized library of content includes topics like taxes and business.
Customers can pick from multiple services, as well as download versions of the software. The simplest version for sole proprietors as well as freelancers, begins at $170 for federal filing and $55 for each state. The premium version, which is referred to as TurboTax Business, provides support for S corporations as well as multi-member limited liability companies.
The software of Intuit matches your return to the database of 350 credits and deductions and helps you maximize the refund. It’s available for desktop computers as well as the mobile app and the QuickBooks Online portal.
To use TurboTax Business, you must have all your business records in front of your eyes that include your company’s earnings as well as expenses. The software can then help you decide how to categorize your company. You’ll need decide, for example whether you’d prefer to use the accrual or cash method of accounting.
The program can be used to determine if you have a business expense that is eligible for a deduction. The program will also keep track of large purchases and help you determine a depreciation strategy for Discover More about turbotax small business your assets. Based on the field you are in, you might be required to file a different state and local tax. In most cases, these are filed by the tax authority of the state.