If you have a business, you need to prepare your taxes. There are a myriad of options to choose from. Intuit provides a variety of service tiers, as well as downloadable solutions for a user-friendly experience when filing taxes. These options can be costly especially if used to prepare multiple tax returns for different states.
TurboTax Business is a business software for tax filing that offers users many features. It allows users to prepare federal and state taxes to check for errors and omissions and receive a quick refund. It assists users in determining the tax liabilities of their business, and to identify tax-deductible expenditures. It has a database of more than 350 deductions and credits, and uses this information to determine the most effective return for your company.
The software can also help users file quarterly estimated tax payments with the IRS. If you expect to owe over $1,000 in taxes, it is generally required. Users can choose to make these payments using the Electronic Federal Tax Payment System or send them in with the 1040-ES form.
The TurboTax Business software is a great choice for small-sized businesses that require help with their taxes. Its interface is easy to use, and the program can handle various deductions and credit. It is specifically designed for single-member LLCs as well as contractors who receive 1099-MISCs and W-2s. In addition, the software assists users with filing business partnership and S corporation returns. It can also assist in calculating capital gains and losses for property sales and other investment transactions.
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