If you operate a business, it’s important to complete your tax returns. There are a myriad of options to choose from. Intuit offers a variety of service tiers and downloadable options that offer users with a simple tax filing experience. These options can be costly particularly if they are used to prepare multiple tax returns for different states.
TurboTax Business offers a wide array of features for businesses tax filing. The program lets users prepare federal and state tax returns, check for errors and omissions and then receive a quick refund. It also helps users assess their business’s tax liability and identify deductible expenses. It has a database of more than 350 deductions and credits, and uses this information to find the best possible return for your company.
The software assists users file quarterly estimated tax returns with the IRS. This is typically required if you anticipate to owe more than $1000 in taxes. The taxpayer can make these payments via the Electronic Federal Tax Payment System, or they can send them in with the 1040-ES form.
The TurboTax Business software is a good option for small businesses in need of assistance with their tax returns. Its interface is easy to navigate, and it can handle a wide range of credits and deductions. It is suitable for use by sole proprietors and contractors who are issued W-2s or 1099MISC forms. Additionally, the software assists users with filing business partnership and S corporation returns. It also calculates capital gains and losses for property sales and other investment transactions.
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