Turbotax small business provides tax filing software for small-sized companies and individuals. It offers a variety of tax forms, and provides guidance on how to file quarterly estimated taxes. It also helps small-business owners to manage their income taxes in connection with rental properties and real estate. Users can get assistance via email and live chat, as well as a curated hub of content includes topics like taxes and business.
Customers can select between a variety of service tiers, and download versions of the software. The most basic option for sole proprietors as well as freelancers, starts at $170 for federal filing and $55 for each state. TurboTax Business is the premium version that can be used to support S corporations as well as multi-member limited How to choose a POS system liability companies.
Intuit’s software compares your return to the database of 350 credits and deductions that will help you maximize your refund. It’s available on desktop computers, the mobile application and the QuickBooks Online portal.
To utilize TurboTax Business, you must have all your business data in front of you that provide your company’s earnings and expenses. The software will help you categorize your business. For instance, you’ll have determine whether you’ll use the cash or accrual method of accounting.
You can also use the program to determine whether you have any business expenses that are qualified for tax deduction. The program can also monitor major purchases and help you determine a plan of depreciation for your assets. Based on your industry you may have to file a variety of different local and state taxes. They are typically filed with the state tax agency.