TurboTax Small Business Tax Software Review For 2019 - 2020 Tax Season
Do you own your own small business? Are you looking for an economical way to file your small business taxes this year? If you're looking for the best tax software, look no further. Turbo Tax offers tax preparation software designed specifically for the small business owner. The Home and Business and Business Editions offer packaged products that will meet all your needs, and help you save some money.
TurboTax Small Business Tax Solutions
File your Schedule C for business income, and lower your net taxable income with business tax deductions. Save time and effort with simplified asset depreciation. Choose TurboTax Home and Business Edition for filing personal and business taxes together.
The TurboTax Home and Business Edition will help you prepare W2's for your employees as well as 1099 forms. It makes it easier to enter all income streams and determine which depreciation method benefits you most. Then it will walk you through how to calculate and report that depreciation.
TurboTax Business: The right choice for Corporations, partnerships and trusts. Helps you easily prepare and file your business tax return, provides guidance in reporting your business income and expenses, helps you get every dollar thru business industry tax deductions, plus fully guided support for filing S Corp, partnership, C Corp, or multi-member LLC forms.
This small business tax software also offers a walk though of all expense categories, suggesting additional categories so you can maximize your savings. It also includes all the start up deductions that new businesses can take. All these things make this tax prep software a great buy.
TurboTax Small Business Tax Solutions offer Support for all Small Business Tax Forms needed to prepare and file your business return online or on paper.
TurboTax Small Business Tax Software products help you find every tax deduction available to you including your vehicle, home office supplies, utilities, etc. The software will help you decide if it's a better deduction to take actual mileage on your vehicle or take the standard mileage rate. You will get to see tax write-offs by industry so you can find deductions that are often overlooked. It's great software for small businesses, one that people return to year after year.
Also included in the TurboTax Home and Business Edition is the personal tax software you need to file your personal income taxes. Pay only once and get everything you need for both your personal and business taxes. The software makes it easy by asking you questions and putting the answers into the proper tax forms. It also skips questions that don't apply to you, making it quicker to finish your returns.
TurboTax also has Smart Check that scans your returns for mistakes so you can be assured that everything is accurate and you won't trigger an audit. Your calculations are guaranteed accurate and are backed up by TurboTax to pay any penalty and interest if a mistake is due to a TurboTax calculation error.
TurboTax Small Business Tax Software Professional Advice, and Live Chat Support
With TurboTax Small Business Tax Software, when you have questions there are multiple ways to get the answers you need including online from TurboTax experts and from the users in the TurboTax Live Community. You'll also have access to answers to frequently asked questions across all categories.
You'll get guidance and advice on any tax topic, explanations in language you can understand on a variety of tax areas, as well as examples to help clarify specifics. You'll get a summary of your return and recommendations for ways to increase your return the next year.
Now if all that is not enough, you have access to a tax professional by phone or via live chat on your computer. There isn't a small business tax software program that beats what TurboTax offers. Check it out today, you'll be impressed with the product. It will be clear why people keep coming back to TurboTax every year.
With your small business it's important to always Keep Good Records and Understand what Tax Deductions are Available. TurboTax helps you do just that! Proper record-keeping all-year-round should be your top concern to ensure you get your taxes filed accurately. Always save any essential paperwork that could be needed to back-up any tax deduction claims you make.
Remember that tax credits within the Affordable Care Act may allow small business owners to cover up to 35 percent of their health care premiums that small businesses are required to pay to cover their workers. In 2014, this tax credit increases to a whapping 50 percent.
TurboTax Small Business Tax Software Helps You Avoid Common Audit Traps
TurboTax Small Business Red Flags and Audit Support help you avoid potential red flags which could include: Classifying Employees as Independent Contractors, Home Office Deductions, Large Sum Miscellaneous Deductions etc. Always Keep Your Business and Personal Expenses Separate. For more tax tips and current tax deductions check out the SBA Small Business Tax Guide.