- Multi-Member LLCs (Form 1065)
- Partnerships (Form 1065)
- S Corporations (Form 1120S)
- C Corporations (Form 1120)
- Estates and Trusts (Form 1041)
- Sole proprietors, consultants, 1099 contractors: use TurboTax Home & Business.
- TurboTax Business customers also use TurboTax Premier for their personal tax returns (sold separately).
- TurboTax Business State forms (sold separately) are available for easy download. You can easily transfer your Federal information so you’re well on your way to being done with your State Return before you start.
Business Taxes Made Clear, Easy and Accurate
– Customized to your industry—simple income and expense entry, based on your type of business (corporation, partnership, or multi-member LLC)
– Create K-1 Forms electronically in PDF format allowing you to distribute the documents electronically to partners and shareholders.
– Easy transfer of your Federal Return to Your State Return* (State Form sold separately via easy download).
– Create Unlimited W-2, 1099-MISC, 1099-INT and 1099-DIV Forms, printed on plain paper — no need for special-colored ink forms.
– TurboTax streamlines data entry so you can save time & speed through asset depreciation and reporting.
– Easily imports your information from QuickBooks* to significantly reduce the time it takes to prepare your return.
– Whether you have a Profit & Loss statement or you track expenses manually, TurboTax will give you all the guidance you need to ensure you’ve covered all income sources and expense categories.
– Extra guidance for entering multiple businesses, even if they are different entity types.
– Easy handling of rental real estate taxes, so you can rest assured all related income and expenses are covered.
– Up-to-date with the latest tax laws, including how the new healthcare laws will affect your business taxes
Simplifies asset depreciation
– Reviews your large purchases (assets) and helps you determine the most advantageous, tax-saving strategy for your assets.
– Then guides you through calculating and reporting depreciation.
– Helps you track depreciation year-over-year when you use TurboTax.
Get Every Business Tax Deduction and Credit You Deserve
Shows you what business expenses you can deduct including:
– Vehicle Expenses: Shows you whether you’ll get a bigger refund using actual expenses or the standard mileage rate. Provides extra help for splitting vehicle expenses between business and personal use.
– Supplies: Your paper, ink, postage, staples, CDs, coffee, and more can add up to big savings.
– Large Purchases (Assets): Tells you if you should fully deduct equipment this year or if you need to depreciate.
– Promotion and Advertising: Learn how to deduct expenses like brochures, business cards, web sites, and sponsorships.
– Travel: Tells you when (and how much) you can deduct for meals, airfare, taxis, hotels and more.
It doesn’t matter which tax deal you need, we have a deal on all of them now. Don’t forget taxes are due April 15th. You can download now in less than 10 minutes. Why wait?
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