If you’re a sole proprietor, independent contractor or multi-member LLC, TurboTax is designed to meet the diverse needs of small business owners. The Intuit tax filing solution offers various levels of service and downloadable software to assist you with the numerous forms required to report your company’s expenses and earnings. The application allows you to create W-2 forms for your employees estates, contractors and contractors as well as 1099-MISC form and 1099 DIV forms for trusts and estates. You can also complete your tax returns using the accrual accounting method which allows for more gradual deduction of expenses than straight line method.

TurboTax has a database of more than 350 credits and deductions to ensure that you receive the most amount of money. TurboTax also conducts an accuracy check for every return and, if it discovers any mistakes or errors the company will pay any IRS or state penalties.

TurboTax Live-Assisted Business is a solution for those who require more complicated business tax returns. Certified tax experts are on hand to offer 24/7 assistance and are up-to on the most current tax reforms in the federal and state levels. It is available in certain states and lets you either delegate your company’s tax burden to an expert tax professional (for S-corporations or multi-member LLCs as well as partners) or utilize the self-service option to maximize your credits and deductions.

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