No matter if you’re a sole proprietor or independent contractor, or a multi-member LLC, TurboTax is designed to serve the varied needs of small business owners. The tax filing service owned by Intuit includes a variety of tiers of service and downloadable applications that are designed to assist you in filling out the countless forms needed to document your company’s earnings and expenses. The application allows you to create W-2 forms for employees, contractors and estates as well as 1099-MISC form and 1099 DIV forms for trusts and estates. In addition you can also complete your business tax filing using the accrual method of accounting, which allows you to deduct expenses over a longer time instead of using a straight line method.
TurboTax has a database of more than 350 deductions and credits to make sure you get the maximum return. It also runs a verification on every return to ensure accuracy. If it detects mistakes or errors, the company will be responsible for any penalties that are imposed by the IRS or the state.
For those with more complicated business returns, TurboTax Live Business offers unlimited year-round guidance from experts certified by the IRS who are up-to-date on all the latest federal and state tax changes. It’s offered in a select number of states, and gives you the option to completely hand your company’s taxes to a tax expert (for S-corporations, partners and multi-member LLCs) through its full service options, or check out here turbotaxsmallbusiness.com/read-detailed-board-software-reviews/ utilize its self-service model to maximize deductions and credits by yourself.
Be the First to Comment!
You must be logged in to post a comment.
You must be logged in to post a comment.