TurboTax Small Business Review

If you have a business, it’s important to complete your tax returns. There are plenty of options for you to pick from. Intuit offers a variety of service tiers and downloadable solutions that provide an easy tax filing. These solutions can be expensive in particular if they’re used to submit multiple tax returns to different states.

TurboTax Business offers a wide range of features for business tax filing. It lets users prepare state and federal tax returns, verify them for errors and omissions, and then receive a quick refund. It also assists users in determining their tax obligations for their business and determine deductible expenses. Its database contains more than 350 deductions and credits and uses this information to determine the best return for your business.

The software helps users to submit quarterly estimated tax payments with the IRS. If you expect to owe more than $1,000 in tax, this is typically required. You can pay these payments via the Electronic Federal Tax Payment System or send them in with a 1040-ES form.

TurboTax Business is an excellent option for small business owners who require assistance with their tax returns. Its interface is easy to use and the program is capable of handling a wide range deductions and credit. It is designed for single-member LLCs and contractors https://turbotaxsmallbusiness.com/best-ecommerce-platforms-for-small-business/ that receive W-2s and 1099MISCs. It also allows users file tax returns for S businesses and business partnerships. It also calculates capital gains and losses for property sales, and other investment transactions.