18 8 月 TurboTax Small Business Review

TurboTax is a tool that can be utilized by small business owners of all types, whether they are sole proprietors, independent contractors, or multi-member companies. The tax filing software owned by Intuit has multiple service tiers and downloadable software that are designed to help you fill out the numerous forms required to declare your company’s earnings and expenses. It is able to create W-2, 1099MISC and 1099-DIV for employees and contractors as and K-1 forms for trusts and estates. You can also complete your tax returns using the accrual accounting method, which allows for more gradual deduction of expenses than a straight line approach.

TurboTax uses a database with more than 350 deductions and credits to ensure you get the maximum return. It also runs a verification on each return to ensure that it is accurate. If it detects mistakes, or inaccuracies, the company will cover any penalties that are imposed by the IRS or the state.

For those who need more complex business taxes, TurboTax Live Assisted Business offers year-round support from certified experts who are current with the most recent tax laws and changes in both states and federal. It is available in some turbotax small business states and lets you either delegate your company’s tax burden to a tax professional (for S-corporations or multi-member LLCs and partners) or use the self-service option to maximize your credits and deductions.