No matter if you’re a sole proprietor or independent contractor, or a multi-member LLC, TurboTax is designed to serve the varied needs of small-scale business owners. The Intuit tax filing software comes with different levels of service and download software to assist you with the many forms required for reporting your business’s expenses and earnings. The product includes the ability to create W-2, 1099MISC and 1099-DIV forms to employees and contractors, as well as K-1 forms for estates and trusts. You can also file your taxes using the accrual accounting method which allows for a more gradual deduction of expenses than a straight line approach.

TurboTax uses a database with more than 350 credits and deductions to make sure you get the most amount of money. TurboTax also conducts an accuracy check for every return and, if it finds any mistakes or errors the company will pay any IRS or state penalties.

TurboTax Live-Assisted Business is a solution for those with more complex business returns. Certified tax experts are on hand to offer unlimited assistance throughout the year and are up to date with all the latest tax reforms in the federal and state levels. It’s available in certain states and allows you to completely transfer your business’s taxes to a tax professional (for S-corporations, partnerships, and multi-member LLCs) by using its full service options, or use its self-service model to maximize credits and deductions on your own.

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