It is crucial to file your taxes when you run a business. Fortunately, there are many options to select from. Intuit offers multiple service levels and downloadable options that offer an easy tax filing experience. However, these solutions can be quite expensive especially if you are required to file multiple state returns.
TurboTax Business is a business tax filing software application that offers users numerous features. The program allows users to prepare federal and state tax returns, check for errors and omissions, and receive a fast refund. It helps users determine the tax liability of their business and determine deductible expenditures. It has a database that contains more than 350 credits and deductions and utilizes this data to calculate the best return for you business.
The program also allows users to submit quarterly estimated tax returns with the IRS. If you expect to owe more than $1,000 in taxes, it is generally required. Users can choose to make these payments using the Electronic Federal Tax Payment System, or they can mail them in using a 1040-ES form.
TurboTax Business is a great choice for small-scale business owners who require help with their tax returns. Its interface is simple to use, and the program can handle many different deductions and credit. It is suited for use by single-member LLCs, sole proprietors as well as contractors who receive 1099-MISC or W-2 forms. The software also helps users with filing returns for S companies and business partnerships. It can also calculate capital gains and losses for properties sold, and other investment transactions.
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