Click here to get started and don’t worry the $10 discount will automatically apply for you when you checkout. PCMag.com is a leading authority on technology, delivering lab-based, independent reviews of the latest products and services. Our expert industry analysis and practical solutions help you make better buying decisions and get more from technology. Second, TurboTax Self-Employed has been improved to better serve microbusinesses and people with side gigs, seeing as there are more of them since the start of the pandemic. The Self-Employed version now looks for more than 500 tax deductions, some of which are industry specific.

Detailed help resources.Help and support resources that answer most questions about your taxes with simple and easy-to-follow advice. However, some people with simple taxes may be satisfied with cheaper options, and some people might just feel more comfortable paying an accountant to do their taxes for them. Millions of taxpayers—including homeowners—may be eligible for tax breaks and credits that they may not even be aware of. With TurboTax Deluxe, you can file knowing you’re getting every tax deduction and credit available. It might be worth it to pay $12/mo for the first 6 months and then $17/mo afterward, for the QuickBooks Self-Employed Tax Bundle. Otherwise, you’ll have to pay for a one-time tax filing with TurboTax Self-Employed only. Yep, the QuickBooks Self-Employed Tax Bundle comes with the ability to pay estimated taxes as well as one federal return and one state return tax filing.

Self-Employed Edition Features:

Some, perhaps all, versions of TurboTax can import your data from the prior year’s TurboTax, Quicken, Quickbooks, or other tax preparation software. Importing this data saves you from having to input it and avoids errors.

We’ll automatically import your QuickBooks Self-Employed income and expense accounts and classify them for you. Having expressed my general dissatisfaction with the merely adequate nature of their products ; unfortunately, there are no other reasonable alternatives despite what BlockHead might opine. The Premier version automatically imports your investment information from participating companies. As with the CD, Premier includes features in Deluxe plus features relating to rental properties and investments. The chart below illustrates how the features increase on each TurboTax version. Get your taxes done right with every dollar you deserve, backed by our Expert Approved Guarantee.

File small business taxes with TurboTax Self-Employed

TaxAct provides professional tax expert assistance, which includes help from CPAs, Enrolled Agents and tax attorneys to help with filing but at no additional cost. You can also pay https://turbo-tax.org/a an additional fee to move to Full Service and have your tax return prepared for you. Before filing your return, a tax pro will schedule a time to review your return with you.

• Use regular TurboTax to file my return for over five years and absolutely love it.
• For one, the interface and questions are very easy to navigate and answer accurately.
• The opinions expressed are the author’s alone and have not been provided, approved, or otherwise endorsed by our partners.
• TaxAct provides professional tax expert assistance, which includes help from CPAs, Enrolled Agents and tax attorneys to help with filing but at no additional cost.
• Those new to TurboTax Self-Employed will be guided through an interview process, which lets you choose from a variety of displayed tiles that apply to your particular situation.

But this edition offers you live, onscreen, on-demand help from a tax professional, and all advice from turbotax live self-employed the professional is guaranteed. You also have access to unlimited year-round tax advice, on-demand.

TurboTax Self-Employed features for small business taxes

This person is accredited and specializes in self-employment taxes so you can be sure your taxes are done correctly. There are several different features that I really like about the TurboTax Self-Employed tax filing software. Filing self-employed taxes is a bit more complicated than personal income taxes due to the fact that you have additional forms, including Schedule C and Schedule SE. If the IRS audits a return prepared in TurboTax, you can get free audit support, meaning a TurboTax expert will review correspondence from the IRS and let you know what to expect and how to prepare. However, you’ll need to upgrade to TurboTax MAX to have a TurboTax pro represent you while dealing with the audit.

When you enter charitable donations, for example, it asks you to select things such as the type, the recipient, amount, and frequency. The bulk of the screen is reserved for the site’s actual data-gathering questions and answers. Two icons in the upper right open a pane that slides over from the right side and thankfully does not obstruct your view of the current page. Another link opens a screen containing information about upgrading to TurboTax Deluxe Live. You never have to look at an IRS form or schedule, because TurboTax and its competitors complete them for you in the background. What you do see is expert help in the form of simply worded explanations of tax concepts throughout the process. We earn a commission if you click this link and sign up at no additional cost to you.

Summary of Features of CD/Download and Online Versions of TurboTax

You really can’t expect personal tax prep websites to be so all-encompassing. But the explanatory content on these sites has been revised and expanded so many times over the years that it’s usually easy to understand. It often provides brief and simple explanations of tax topics while asking you questions. Many hyperlinked words and phrases open windows containing additional detail. The Live Premier edition takes the Deluxe edition a few steps further by giving you the support you need for your investments or rental properties. Since real estate and other investments can definitely complicate your overall tax picture, this support is a huge benefit. It will give you the peace of mind that comes with a tax professional’s guaranteed advice.