Tax Software for Small Business

Tips for Choosing the Best Tax Software » Capterra Blog

Why TurboTax Business is the easiest choice for you …

TurboTax Business is the do-it-yourself business tax software you’ve been looking for.

Now you can complete your business taxes on your schedule—and save money doing it.

TurboTax Business covers your federal business tax return for:

  • Multi-Member LLCs (Form 1065)
  • Partnerships (Form 1065)
  • S Corporations (Form 1120S)
  • C Corporations (Form 1120)
  • Estates and Trusts (Form 1041)

TurboTax Business works best if your small business:

  • Is an S Corporation, C Corporation, partnership, or multi-member LLC
  • Has revenue of less than $250, 000
  • Has fewer than five employees

Sole proprietors, consultants, 1099 contractors: use TurboTax Home & Business.

After you do your business taxes, you’ll also need a TurboTax personal tax preparation software product. We recommend TurboTax Deluxe.

It’s easier than ever to do your own business taxes.


Knows Your Business and Does the Hard Work
for You

With TurboTax Business, you don’t need to know a thing about business taxes. Its customized interview tailors itself to your type of business (corporation, partnership, or multi-member LLC) and provides extra guidance to simplify tax preparation and help you maximize tax savings. Just answer simple questions and let TurboTax do the rest.

  • Easier Than Ever — Saves time and gives you a head start by transferring last year's data and showing a year-over-year comparison for your business.
  • Creates K-1 Forms Electronically — Now you can distribute K-1s electronically in PDF format and save a trip to the post office.
  • Imports Your Data — Skip the data entry and rely on an accurate import of Profit & Loss statements from QuickBooks.1 If your chart of accounts is not tax-ready, 2 TurboTax automatically imports your QuickBooks income and expense accounts and classifies them in the appropriate tax categories that you can edit.
  • Creates Unlimited W-2, 1099-MISC, 1099-INT and 1099-DIV Forms — Prepare forms for employees, contractors, shareholders and partners. All calculations can be done and printed on plain paper—no need for special-colored ink forms.
  • Simplifies Entering Income and Expenses — Speeds you through entering all your business expenses, no matter how you track them. If you have a Profit & Loss statement, TurboTax streamlines data entry so you can quickly enter all your income and expenses. If you track expenses manually, TurboTax gives you all the guidance you need to ensure you’ve covered all income sources and expense categories.
  • Handles Multiple Businesses — Lets you prepare returns for multiple businesses, even if they are different entity types. Provides extra guidance for entering multiple businesses.
  • Includes Extra Guidance for New Businesses — Shows which start-up costs new businesses can deduct.
  • Covers Real Estate Rental Property Activities — Guides you step-by-step through a customized rental real estate experience, so you can rest assured that all related income and expenses are covered.
  • Makes State Business Taxes Easier, Too — No retyping necessary! Transfers your federal data to TurboTax Business State3 so you can complete your state return quickly, easily and with greater accuracy.
  • Federal Efile Included — Federal efile is included with TurboTax Business. It's easier and more accurate than paper filing and is the IRS's preferred filing method.4

2012-01-13 05:36:09 by robbie_do_little

Small business/bookkeeping software????

I have a small start-up business. I currently have the starter version of Simply Accounting and it kinda sucks. Until I grow my business to sustain itself I don't want to fork out major $$$ for software. What is a good, reasonably priced program for doing invoicing, estimates, inventory, keeping track of expenses, sales tax paid and collected etc? Any input appreciated.
rob in toronto

2010-04-01 02:06:10 by twodogs

Small Business Question

I have formed a small business in Colorado. I want to hire my significant other to do the labor (carpet cleaning). Should I consider him an employee or independent contractor? I am working on getting a professional tax advisor, but given the time of year it is a little difficult. If he is an employee, is there anything special I need to pay the taxes for him? Any software that helps? Thanks for any help ļ

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