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TurboTax Small Business Software Review

When it comes to tax returns for small-sized businesses there are a few important considerations to take into account. Most of them are related to accounting methods used to record the company’s earnings and expenses. Based on whether the business is an accrual or cash entity, the accounting method read post turbotaxsmallbusiness.com can be either. In addition, many small-scale business owners are required to make quarterly estimated tax payments. These tax payments can be done using the Electronic Federal Tax Payment System or by submitting 1040 ES forms with a tax refund.

Intuit offers a variety of service levels to help small business owners with tax returns. For those who prefer a less hands-on approach can choose between the online TurboTax Self-Employed package or the more complex TurboTax Business application. This option combines entrepreneurs with a tax professional who can prepare their return from start to finish.

TurboTax Business also helps with the preparation of W-2, 1099-MISC and 1040-DIV forms for employees as well as contractors. It can also calculate the estimated tax dues that are usually required by the IRS when you anticipate to owe more than $1000 in taxes.

The program can be costly The program can be costly, however. With a price of $200 for the federal filing and $55 per state, it’s a quick add up. There are several perks that include unlimited live assistance from an expert and a 100% accurate calculations guarantee. These extra features are costly for small-scale business owners. There are other options that are less costly than TurboTax.

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