TurboTax Small Business Review
It is essential to complete your tax returns when you run a business. There are plenty of options for you to choose from. Intuit offers a range of service tiers as well with downloadable options to provide an easy and user-friendly experience when you file taxes. These services can be costly, especially if they are used to submit multiple tax returns to different states.
TurboTax Business offers a wide range of features that can be used for business tax filing. It lets users prepare federal and state tax returns, check them for errors and omissions, and then receive a quick refund. It helps users to determine the tax liabilities of their business and determine deductible expenditures. Its database contains more than 350 deductions and credits and utilizes this data to determine the best return for you business.
The software assists users to file quarterly estimated tax payments at the IRS. This is typically required if you are planning to owe over $1,000 in taxes. Users can pay using the Electronic Federal Tax Payment System or mail in a project management 1040ES form.
TurboTax Business is an excellent option for small business owners who need help with their tax returns. Its interface is easy to navigate and the software can handle a wide range of deductions and credits. It is specifically designed for single-member LLCs as well as contractors who receive W-2s and 1099-MISCs. It also allows users to file returns for S corporate and business partnerships. It also calculates capital gains and loss for property sales, as well as other investment transactions.