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Intuit, Inc. Awards
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. If your chart of accounts is not tax-ready, 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 State 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.
Maximizes Business Deductions to Help You Save • Helps You Get Every Business Deduction 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. • Identifies Industry-Specific Deductions — Walks you through typical deductible expenses by industry to help you spot commonly overlooked deductions. • 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.
Provides Support and Guidance Each Step of the Way • World-Class Help Built Right In — Provides FAQs, tax topic videos, easy-to-follow tips and how-to’s, troubleshooting articles, government instructions, and IRS publications, so you can get the answers you need every step of the way. • 24/7 Support Web Site — Easily search the TurboTax.com Support knowledge base for answers to your specific questions, 24 hours a day, 7 days a week. • FREE Technical Support — Got a software question? No problem! Get answers from a TurboTax expert via phone or live chat. • Expert Help Along the Way — Our CPAs, EAs and Tax Attorneys are available year-round by phone or chat to answer any questions you might have.**
Helps Reduce Audit Risk • Accurately Calculates Your Taxes, Guaranteed — Does all the math for you and we guarantee its accuracy. Chances are slim, but if you should get hit with an IRS or state penalty or interest because of a TurboTax calculation error, we’ll pay you the penalty and interest. • Checks Your Return for Errors — Double-checks your return for accuracy and completeness and helps you fix any errors before the IRS spots them.You can be confident your taxes are done right. • Alerts You to Audit Red Flags — Points out deductions and tax situations that may increase your risk of an IRS audit. • Also Available: Audit Defense — Provides full-service representation by a trained tax professional. You will never have to meet with the IRS, unless you want to.