TurboTax Small Business Review

It is imperative to file your taxes if you own a business. Luckily, there are several choices to pick from. Intuit offers multiple service tiers and downloadable solutions that provide a user-friendly tax filing experience. These options can be costly, especially if they are used to submit multiple tax returns to different states.

TurboTax Business offers a wide array of features for businesses tax filing. The program lets users prepare federal and state tax returns, verify them for errors and omissions, and then receive a quick refund. It also assists users in determining the tax liabilities of their business and identify deductible expenses. It has a database of more than 350 deductions and credits and it makes use of this information to determine the most effective return for https://turbotaxsmallbusiness.com/how-to-choose-a-pos-system-for-a-small-business/ your company.

The software helps users to submit quarterly estimated tax payments with the IRS. This is typically required if you are planning to owe over $1,000 in taxes. You can pay via the Electronic Federal Tax Payment System or mail in a 1040ES form.

TurboTax Business is a great option for small business owners who require help with their tax returns. Its interface is easy to use, and the program is able to handle various deductions and credit. It is designed for single-member LLCs and contractors who receive 1099-MISCs and W-2s. In addition, the program aids users in filing business partnership and S corporate returns. It can also assist in calculating capital gains and losses on property sales and other investment transactions.