Business Tax Filing Software
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Turbo Tax Business
Software Provides the Right Choice to Complete Business Tax
Partnerships (Form 1065)
Multi-Member LLCs (Form
C Corporations (Form
S Corporations (Form
Estates and Trusts (Form
TurboTax Business works best
if your small business:
It’s easier than ever to
prepare and file your business tax return on your schedule, and save
some serous cash on tax preparation fees at the same time.
You don’t need to know a
thing about business tax preparation with the TurboTax Business
Edition as the interview tailors itself to your type of business
(corporation, partnership, or multi-member LLC). It then provides
extra guidance to help help you easily maximize tax savings.
Creates K-1 Forms and
distribute them electronically in PDF format
Creates Unlimited W-2,
1099-MISC, 1099-INT and 1099-DIV Forms. Prepare forms for
employees, contractors, shareholders and partners
Import of Profit & Loss
statements from QuickBooks income and expense accounts and
classifies them in the appropriate tax categories
Filing, Helps you prepare returns for multiple entity businesses
Provides Extra Guidance
for New Businesses, See what start-up costs you can deduct.
TurboTax streamlines data
entry for profit & Loss statements so you can quickly enter all
your income and expenses. TurboTax guidance helps cover all
income and expense categories.
transfers your federal data to TurboTax State so you can
complete your state return easily with full accuracy.
Guides you step-by-step
with Real Estate Rental Property Activities
Business Edition helps you deduct expenses like:
Vehicle Expenses: See if
you will get a bigger refund using actual expenses or the
standard mileage deduction. Split vehicle expenses between
personal and business use.
Office Supplies including
paper, ink, postage stamps, staples, CDs, and more.
Helps you depreciate
items that can't be written off in one year.
Advertising: Deduct expenses like brochures, business cards, web
Travel: Determin what you
can deduct for meals, taxis, hotels, airfare and more.
Industry-Specific Deductions to help you spot commonly
Get TurboTax Business Expert
Help Along the Way: TurboTax CPAs, EAs and Tax Attorneys are
available year-round to answer any questions and provide guidance.
Business tax filing can be a challenge with all the confusing tax
laws our government drums up to mess with
small businesses and self employed tax filers. Here's some tips
for business tax filing.
Keep good records: Proper
record-keeping year-round will ensure you have the paperwork you
need to prepare your return as well as back up your return once
deductions: Know what small business deductions can you take as
tax credits and deductions change from year to year.
Utilize the Small Business Jobs Act of 2010
with 17 tax provisions decreasing the tax burdens for small
businesses. These provisions can provide great savings for
business tax filing.
Tax credits within the
Affordable Care Act will allow small businesses to cover up to
35 percent of the premiums a small business pays to cover its
TurboTax Business tax
software helps you Avoid common audit traps as it alerts you to red
flag audit trigger entries. It is very important to be aware of red
flags and act on them before the IRS does: Some of these entries can
Home office deduction: This deduction is very specific
and you should be aware of how to determine if you are eligible to claim it, and what
specific expenses you can write off.
Classifying employees as
independent contractors: It's important to understand the
difference between employees and independent contractors as they are not the same, and.
In the eyes of the IRS, misclassification may be looked at as an attempt to avoid
Large miscellaneous deductions:
Claiming large amounts
of itemized deductions relative to your income may be
suspicious. Be specific and
label every deduction.
Keep personal and business expenses separate.
The IRS makes a point of discovering personal expenses that may
have been claimed as a business expense. Be diligent about keeping
separate bank and credit card accounts for your business and
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