If you have a business, it’s important to prepare your taxes. There are numerous options to pick from. Intuit offers a variety service tiers, as well as downloadable solutions for an intuitive experience when it comes to filing taxes. However, these services can be expensive, especially if you have to complete multiple state returns.
TurboTax Business is a business tax software application that provides users with numerous features. The program lets users prepare federal and state tax returns to check for errors and omissions and receive a quick refund. It also helps users determine their business’s tax liability and determine deductible expenses. Its database contains more than 350 deductions and credits and it utilizes this data to calculate the best return for your business.
The software also assists users to make quarterly estimated tax payments with the IRS. This is generally required if you anticipate to owe more that $1,000 in taxes. You can make these payments through the Electronic Federal Tax Payment System, or they can mail them in using the 1040-ES form.
TurboTax Business is an excellent option for small business owners who require assistance with their tax returns. Its interface makes it easy to use, and the program is capable of handling a wide range deductions and credit. It is suited for use by single-member LLCs, sole proprietors, and contractors who receive 1099-MISC or W-2 forms. In addition, it helps users file business partnership and S corporate returns. It can also assist in calculating capital gains and losses on property sales and other investment transactions.