Turbotax Small Business Review

Turbotax small business provides tax filing software for small-sized companies and individuals. It supports a variety of tax forms and offers guidance on how Virtual Data Rooms to file quarterly estimated taxes. It also assists small business owners to manage their income taxes associated with rental properties and real estate. Users can access support via live chat and email, and a content hub that covers topics such as taxes and business.

Customers can choose between multiple services, 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. TurboTax Business is the premium version that can be used to support S corporations as well as multi-member limited liability businesses.

The software of Intuit matches your return to the database of 350 credits and deductions and helps you maximize the refund. It’s available on desktop computers, the mobile app, and the QuickBooks online portal.

TurboTax Business requires that you have all of your business records, including your business’s income and expenses in front of you. The software can help you classify your company. For instance, you’ll have to decide if you want to make use of the accrual or cash method of accounting.

You can also use the program to determine if there is an expense in your business that’s qualified for tax deduction. The program will also keep track of major purchases and help you determine a depreciation strategy for your assets. Depending on your industry it is possible that you will need to file a variety of different local and state taxes. In many instances, these taxes are filed through the tax agency of the state.