Turbotax small business offers tax filing software to small businesses and individuals. It supports a variety of tax forms, and provides guidelines on how to file quarterly estimated tax returns. It also assists small business owners manage income taxes associated with rental properties and real estate. Users can reach support via live chat or email, and a content hub that covers topics such as taxes and business.
Customers can choose from a variety of different service tiers and 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 more expensive version, known as TurboTax Business, provides support for S corporations as well as multi-member limited liability companies.
Intuit’s software reviews your return against a database of 350 deductions and credits, helping 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 your company’s income and expenses, in front of you. The software will help categorize your company. You’ll need decide, for instance whether you’d prefer to utilize the accrual or cash method of accounting.
The program can be used to determine whether you have a business expenditure that can be deducted. The program can help you track major purchases, and can help you determine the best strategy for depreciation. Based on the field you are working in, you may be required to file a different local and state tax. In most instances, they are filed through the state’s tax agency.