check out here turbotaxsmallbusiness.com/read-detailed-board-software-reviews/
TurboTax is a tool that can be utilized by small business owners of all types regardless of whether they are sole proprietors, independent contractors or multi-member businesses. The tax filing software owned by Intuit comes with a variety of service tiers and downloadable software that are designed to assist you in filling out the countless forms required to report your business’s earnings and expenses. It is able to generate W-2, 990-MISC and 1099-DIV forms for employees and contractors as along with K-1 forms to be used for trusts and estates. In addition you can also submit your tax returns for business using the accrual method of accounting, which allows you to deduct expenses over a longer period of time rather than a straight-line method.
No matter how you decide to complete your tax returns, TurboTax has a database of more than 350 deductions and credits it utilizes to ensure you get the most comprehensive return. It also runs a verification on each return to verify the accuracy. If it discovers any mistakes or errors, the company will pay any penalties that are imposed by the IRS or state.
For those who have more complicated business taxes, TurboTax Live Assisted Business offers unlimited year-round guidance from certified experts who are up to date with the most recent tax reforms in the federal and state. It’s available in a few states and offers the option to completely hand over your business’s taxes over to a tax professional (for S-corporations, partnerships, and multi-member LLCs) with its full-service options, or you can use its self-service model to maximize deductions and credits by yourself.