Whether you’re a sole proprietor or an independent contractor or a multi-member LLC, TurboTax is designed to serve the varied needs of small business owners. The Intuit tax filing software offers different levels of service and download software to assist you with the many forms required to report your business’s expenses and earnings. It is able to create W-2, 1099MISC and 1099-DIV forms for employees as well as contractors as and K-1 forms for estates and trusts. You can also prepare your taxes using the accrual accounting method, which allows for a more gradual deduction of expenses than straight line method.
TurboTax uses a database with more than 350 credits and deductions to ensure you get the most money. TurboTax also runs an accuracy check for every return, and if it finds any mistakes or errors the firm promises to pay any IRS or state penalties.
For those who have more complicated tax taxes, TurboTax Live Assisted Business offers unlimited year-round guidance from certified experts who are current on all the latest federal and state tax changes. It is available in certain states and allows you to either delegate your company’s tax burden to a tax professional (for S-corporations or multi-member LLCs and directory how data room provider is crucial for companies partners) or use the self-service option to maximize your credit and deductions.
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