TurboTax is a popular income tax preparation software that guides individuals and businesses through the process of filing their taxes. The TurboTax Home and Business version is specifically designed for self-employed or small business owners. In this article, we will discuss in detail how to use TurboTax Home and Business, its features, pricing, updates, and government resources.
Getting Started with TurboTax Home and Business
Before using TurboTax Home and Business, one must ensure that they have all their financial documents in order. These include W-2s, 1099s, bank statements, and receipts. Having all documents in one place makes the process less daunting and a lot smoother.
Once all the documents are in hand, the next step is to install the software. TurboTax Home and Business can be downloaded from the TurboTax website or purchased from a retail store. Installation is a straightforward process and doesn’t require any technical expertise.
Once the software is installed, the user can the Home and Business version and begin the filing process. The software will ask a series of questions about income, expenses, deductions, and credits. The process may take some time, but it’s worth the effort to ensure accuracy.
Features of TurboTax Home and Business
TurboTax Home and Business comes with a range of features that make filing taxes easier for self-employed or small business owners. Below are some of the features that set TurboTax Home and Business apart from other tax software.
1. Guidance and Support
One of the most significant advantages of TurboTax Home and Business is its guidance and support throughout the entire process. The software uses an interactive interface that guides users step-by-step through the filing process. The software also provides support through various channels, including phone, email, and chat. Users can get help from tax experts at any point in the filing process.
2. Business Expense Categories
TurboTax Home and Business comes with over 80 business expense categories. Users can the categories that apply to their business, and the software will calculate the deductions automatically. Deductions can include expenses such as rent, equipment, advertising, and travel.
3. Maximum Refund Guarantee
TurboTax Home and Business also comes with a Maximum Refund Guarantee. The software ensures that users get their maximum refund by checking for tax-saving credits and deductions. If the software fails to get the user the maximum refund, they will be refunded the purchase price of the software.
4. Import Data
TurboTax Home and Business can import data from other software or sources. The software can import data from QuickBooks, Quicken, and Excel. Users can also import W-2s and 1099s directly from the issuer.
Pricing
TurboTax Home and Business is available in two pricing options – the download version and the online version. The download version is for users who want to install the software on their computer. The online version is for users who prefer to use the software online. The following are the pricing options for TurboTax Home and Business:
Download Version:
– Federal: $119.99
– State: $44.99
Online Version:
– Federal: $119.99
– State: $44.99
Updates
TurboTax Home and Business has regular updates to ensure that the software remains up-to-date with the latest tax laws and regulations. The software can also update automatically on a regular basis. In some cases, updates may be required to fix bugs or issues in the software.
Government Resources
The federal government provides various resources that individuals and businesses can use to file their taxes accurately. These include tax forms, publications, and online resources.
1. IRS Forms and Publications
The Internal Revenue Service (IRS) provides various forms and publications that individuals and businesses can use to file taxes. These forms and publications are available online and can be downloaded for free. Users can access forms and publications for various tax years and filing statuses.
2. IRS Taxpayer Assistance Centers
The IRS has Taxpayer Assistance Centers (TACs) in various locations across the country. These centers provide face-to-face tax assistance to individuals and businesses. Users can visit a TAC to get help with filling out tax forms, resolving issues with tax accounts, and making payments.
3. IRS Online Resources
The IRS also provides various online resources that individuals and businesses can use to file taxes. These include the Interactive Tax Assistant, Tax Withholding Estimator, and Taxpayer Advocate Service. These online resources provide guidance and support on various tax-related issues.
Conclusion
In conclusion, TurboTax Home and Business is an excellent tax preparation software for self-employed and small business owners. The software’s features, pricing, and support make it easy for users to file their taxes accurately and effectively. Applying government resources, such as the IRS forms and publications, Taxpayer Assistance Centers, and online resources, can further assist users in filing their taxes accurately. Overall, TurboTax Home and Business is an essential tool for any self-employed or small business owner who wants to file their taxes with ease.
TurboTax Deluxe federal state e-file 2008 prepares taxes, prints taxes and e-files federal and state tax returns. Â TurboTax Deluxe federal state e-file 2008 was created to help people receive the maximum amount of tax return possible. Those who should use the TurboTax deluxe federal state e-file 2008 software include: those who own their own home, those who donate to charities, and those who have large education or medical expenses, and those who have childcare expenses.
TurboTax Deluxe federal state e-file 2008 features and capabilities include:
·   Maximizes deductions
·   Looks for deduction opportunities
·   Improves handles in life changes (marriage, new jobs etc)
·   Helps with medical expenses
·   Files multiple returns
·   Helps to reduce audit risks
·   Alerts you if there is any issues or errors
·   Automatically fills in W-2 and 1099 forms
·   Transfers last year’s tax information
·   Imports finical data
·   Live tech support for computer and tax questions
·   Guarantees accurate calculations
·   Keeps individuals up-to-date with new tax laws and regulations
·   Guarantees a tax return in as little as eight days
TurboTax Deluxe federal state e-file 2008 allows for taxes to be filed quickly and assurers its users that everything will be submitted properly. TurboTax is a leading company in tax preparation software. Other TurboTax software includes: TurboTax Total Solutions and TurboTax Home and Business. Generally new TurboTax software is released annually, but most software comes with an update option.
