It’s important that you complete your tax returns when you run a business. There are many options to choose from. Intuit provides a variety of service levels and downloadable options that offer an easy and user-friendly tax filing experience. However, these options can be expensive especially if you are required to submit multiple state returns.
TurboTax Business is a business tax filing software application that offers users a variety of features. The program lets users prepare federal and state tax returns, check for errors and omissions and receive a swift refund. It helps users to determine the tax liability of their business, and to identify tax-deductible expenditures. It has a database that contains more than 350 deductions and credits and utilizes this information to determine the best return for your business.
The software assists users submit quarterly estimated tax payments at the IRS. If you are expecting to owe more than $1,000 in taxes this is usually required. You can make these payments via the Electronic Federal Tax Payment System, or they can send them in with a 1040-ES form.
The TurboTax Business software is a great option for small-sized businesses that require assistance with their taxes. Its interface is simple to navigate, and it can handle a variety of deductions and credits. It is specifically designed for single-member LLCs as well as contractors that receive W-2s and 1099MISCs. In addition, the software helps users file business partnership and S corporation returns. It can also assist in the calculation of capital gains and losses from property sales and other investment transactions.