TurboTax is a great choice for anyone who’s self-employed, is a part-time employee or has an entire business. It provides affordable and professional advice. TurboTax streamlines tax filings, making it much easier to claim deductions. It also helps you manage your business expenses and calculates quarterly estimated payments.

The IRS might require you to file quarterly tax returns, and pay estimated taxes. These payments are made quarterly to save you from being penalized for not paying. The payments are made through online tax software, the Electronic Federal Tax Payment System (EFTPS) or via mail.

TurboTax Small Business allows you to claim all deductions that are available to you including the ones for a home office membership in a health club, investment properties. It also provides you with money-saving tax deductions, and helps you avoid overpaying your taxes. In addition, it will automatically import your W-2 and 1099MISC forms to help you file for employees as well as contractors and independent workers simple.

The software lets you file a variety forms for incorporated businesses, such as S Corporations as well as Partnerships (GP, LP or LLP) or Single-Member Limited Liability Corporations (LLC). It lets you create unlimited 1099-MISC and W-2 forms for employees and contractors. K-1 forms are also included for estates and trusts. Its asset depreciation function helps you determine the most effective tax strategy for your assets.

In addition to the features included in TurboTax for Small Business, this version of the software offers a full-service service that connects you to an expert tax professional who will answer any questions you have via video call or in person. This service may not be available in every state, and might cost more.

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