Turbotax Small Business Review

Turbotax small business is tax filing software for incorporated small-sized businesses and self-employed people. It supports a range of tax forms as well as instructions for filing quarterly estimated taxes. It also assists small business owners manage income taxes associated with rental properties and real estate. Users can contact support via email and live chat, as well as an extensive library of content includes board software topics like taxes and business.

Customers can select from a variety of different service tiers and download versions of the software. The most basic option for sole proprietors and freelancers, starts at $170 for federal filing and $55 per state. The premium version, which is referred to as TurboTax Business, provides support for S corporations and multi-member limited liability businesses.

The software of Intuit compares your tax return against a database that contains 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.

TurboTax Business requires that you have all of your company records, including the business’s income and expenses in front of you. The software will assist you decide on the best way to categorize your company. You’ll have to decide, for example whether you’d prefer to employ the accrual or cash method of accounting.

The software can also be used to determine whether you have an expense for business that is deductible. The program also tracks large purchases and help you determine a plan of depreciation for your assets. Based on the field you work in, it is possible that you be required to file a different local and state tax. They are usually submitted through the tax department of the state.