If you’re a sole proprietor or independent contractor, or a multi-member LLC, TurboTax is designed to meet the diverse requirements of small-scale business owners. The tax filing software owned by Intuit has multiple service tiers and downloadable software that are designed to assist you in filling out the countless forms needed to document your business earnings and expenses. The application allows you to create W-2 forms for your employees, contractors and estates and 1099-MISC forms and 1099 DIV forms for trusts and estates. In addition, you can also submit your tax returns for business using the accrual method of accounting, which allows you to deduct expenses over a longer time, rather than using a straight-line approach.

TurboTax uses a database with more than 350 deductions and credits to ensure you receive the maximum return. It also conducts a review on every return to ensure accuracy. If it discovers errors, or inaccuracies the company will be responsible for any penalties that are imposed by the IRS or the state.

TurboTax Live-Assisted Business is a solution for those who require more complicated business tax returns. Certified tax experts are on hand to provide unrestricted guidance throughout the year and are up to current with the most recent tax legislation, whether state or federal. It is available why not find out more how to choose a pos system for a small business in a few states and lets you either fully delegate your business’s tax burden to a tax professional (for S-corporations, multi-member LLCs, and partners) or utilize the self-service option to maximize your credit and deductions.