Integration with QuickBooks Self-Employed If you'd like to dive into an expanded list of possible deductions, you have the freedom to do so. The software floats suggestions based on your job title to speed things up. It will search more than 500 tax deductions, including the following: If your business is brand new and this is the first year that you'll be filing a combined (personal/business) return, TurboTax Self-Employed will help you take advantage of any deductions available to you, including deductions specific to your industry. Once this is completed, you can begin to enter 1099 information, as well as any related business expenses, with TurboTax Self-Employed guiding you through the entire interview-style process.
You will need to set up your business in TurboTax Self-Employed. Schedule C is used for any business that is not set up as a separate legal business entity such as a partnership or corporation. If you receive 1099s for your work, you will need to file a Schedule C. Schedule C is part of your tax return, and reports how much money your small business made or lost throughout the year. Schedule C preparationĪs a small business owner, perhaps the most important form you will need to complete is Schedule C: Profit or Loss From Business (Sole Proprietorship). Here are some of the more important ones.
TurboTax Self-Employed includes many stand-out features.
0 kommentar(er)
