When it comes to the world of business tax software, TurboTax is one of the best small business software programs available on the market. This tax software for small business is available for purchase in online and desktop versions. The software possesses the ability to import data, which can reduce the amount of time that you spend on data entry. However, it should be noted that the software can only import W-2s and 1099s from employers who are participating members of the program. Data may also be imported from Mint, ItsDeductible, and Quicken, which are all owned by Intuit.
One particular favorite feature of this business tax software is the fact that it provides additional guidance of frequent and common tax-related topics. In professional and consumer written reviews, many have reported that these questions are simple to understand and are not overwhelming. For important issues regarding filing, such as choosing the right filing status, this program offers EasyGuides to assist with navigating the fine details. Both versions of the software offer general overviews for specific tax topics which can be accessed through the "More Info" links.
If you choose to invest in this premiere edition of this small business tax software, you will also be able to receive further guidance for your business's investments, like calculating the cost basis for stocks and for employee stock purchases. In regards to business assets, TurboTax provides a step-by-step guide for depreciation. Other features of this business tax software include assistance in calculating the fair market value of items donated to charity, cost basis in stocks and mutual funds, and a 401K Maximizer, which allows you to determine how much money can be contributed to your 401K without decreasing your net income.
Although both the online and desktop versions of this best small business software program include many of the same features, the desktop model allows a user to file up to five tax returns simultaneously, which may be more effective for a small business. With each version of this tax software for small business, your company's computer will be required to have Adobe's Flash 9
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