The Intuit TurboTax Business 2011 is software that helps you easily prepare and file your business taxes. Great for corporations, partnerships and LLCs, TurboTax Business asks easy questions in plain English and fills out the proper business tax forms for you. It helps you maximize business deductions for vehicles and supplies and assists you in finding more write-offs by industry. Federal e-file is now included for speedy IRS confirmation. 5 Federal e-files and unlimited federal returns are included for free. It's never been easier to do your own business taxes, thanks to TurboTax Business 2011.
Knows Your Business and Does the Hard Work for You
Easier Than Ever
With TurboTax Business, you don't need to know anything about business taxes. The software's customized interview tailors itself to your type of business: Multi-Member LLCs (Form 1065), Partnerships (Form 1065), S Corporations (Form 1120S), C Corporations (Form 1120) or Estates and Trusts (Form 1041). It gives you extra guidance to simplify tax preparation and maximize tax savings. Just answer simple questions and let TurboTax do the rest. Saves time and gives you a head start by transferring last year's data and showing a year-over-year comparison for your business. Works best if your small business has revenue of less than $250,000 and employs fewer than 5 people.
Creates K-1 Forms Electronically
Thanks to this new feature, you can now distribute K-1s electronically in PDF format and save a trip to the post office.
Imports Your Data
Skip the data entry and rely on an accurate import of Profit and Loss statements from QuickBooks (2005 or higher for Quick-import; 2009 for Classic import). If your chart of accounts isn't tax-ready, TurboTax will automatically import your QuickBooks income and expense accounts and classify them in the appropriate tax categories that you can edit.
Please note: Tax-ready means that the tax line assignments are made to your chart of accounts.
Please note: Tax-ready means that the tax line assignments are made to your chart of accounts.
Creates Unlimited W-2, 1099-MISC, 1099-INT and 1099-DIV Forms
Prepare forms for employees, contractors, shareholders and partners. All calculations may be done and printed on plain paper, so there's no need for special-colored ink forms.
Simplifies Entering Income and Expenses
Quickly powers you through the entry of all your business expenses, no matter how you track them. If you have a Profit and Loss statement, TurboTax streamlines data entry to allow you to quickly enter all your income and expenses. If you track expenses manually, TurboTax provides all the guidance you need to ensure you've covered all income sources and expense categories.
Handles Multiple Businesses
Allows you to prepare returns for multiple businesses, even if they are different entity types. Offers extra guidance for entering multiple businesses.
Includes Extra Guidance for New Businesses
Shows you which start-up costs new businesses can deduct.
Covers Real Estate Rental Property Activities
This improved feature guides you step-by-step through a customized rental real estate experience, so you can rest assured that all related income / expenses are covered.
Makes State Business Taxes Easier, Too
No retyping necessary! Transfers your federal data to TurboTax Business State (sold separately), so you can complete your state return quickly, easily and more accurately.
Federal E-File Included
Federal e-file is included with TurboTax Business. Easier and more accurate than paper filing, it is the IRS's preferred filing method. To complete e-file with TurboTax Business, print out the authorization form (8453), sign it, scan it, convert it to a PDF, then attach it to your electronic filing record. Requires a scanner (sold separately).
Maximizes Business Deductions to Help You Save
Helps You Get Every Business Deduction You Deserve
Shows you what business expenses you can deduct, including:
- Vehicle Expenses: Shows you whether you'll get a bigger refund using actual expenses or the standard mileage rate. Gives you extra help splitting vehicle expenses between business and personal use.
- Supplies: Your paper, ink, postage, staples, CDs, coffee and more can add up to big savings!
- Large Purchases (Assets): Tells you whether you should fully deduct equipment this year or you need to depreciate.
- Promotion and Advertising: Learn how to deduct expenses such as brochures, business cards, web sites and sponsorships.
- Travel: Tells you when (and how much) you can deduct for meals, airfare, taxis, hotels and more.
Identifies Industry-Specific Deductions
Walks you through typical deductible expenses by industry to assist you in spotting commonly overlooked deductions.
Simplifies Asset Depreciation
Reviews your large purchases (assets) and helps you determine the most advantageous, tax-saving strategy for them. Guides you through calculating and reporting depreciation.
Provides Support and Guidance Each Step of the Way
World-Class Help Built Right In
Offers FAQs, tax topic videos, easy-to-follow tips and how-to's, troubleshooting articles, government instructions and IRS publications, so you can get the answers you need every step along the way.
24/7 Support Web Site
Easily search the TurboTax.com Support knowledge base for answers to your specific questions, 24 hours a day, 7 days a week
FREE Technical Support
Got a software question? No problem. Get answers from a TurboTax expert via phone or live chat.
Also Available: Ask a Tax Expert
Optional one-on-one, live support from highly qualified tax professionals, skilled at answering questions specifically related to federal tax law. Additional charges apply.
Helps Reduce Audit Risk
Accurately Calculates Your Taxes, Guaranteed
Does all the math for you and guarantees accuracy. Chances are slim...but if you should get hit with an IRS or state penalty or interest because of a TurboTax calculation error, TurboTax will pay you the penalty and interest. If you get a larger refund or smaller tax due from another tax preparation method, TurboTax will refund the purchase price paid.
Please note: For refund of purchase price, claims must be submitted within sixty (60) days of your TurboTax filing date and no later than 6/17/12. E-file, Audit Defense, Ask a Tax Expert, Refund Transfer and technical support fees are excluded. This guarantee cannot be combined with the TurboTax Satisfaction (Easy) Guarantee.
Please note: For refund of purchase price, claims must be submitted within sixty (60) days of your TurboTax filing date and no later than 6/17/12. E-file, Audit Defense, Ask a Tax Expert, Refund Transfer and technical support fees are excluded. This guarantee cannot be combined with the TurboTax Satisfaction (Easy) Guarantee.
Checks Your Return for Errors
Double-checks your return for accuracy and completeness and helps you fix any errors before the IRS spots them. You can be confident your taxes are done right.
Alerts You to Audit Red Flags
Points out deductions and tax situations that may increase your risk of an IRS audit.
Also Available: Audit Defense
Optional full-service representation by a trained tax professional. You never have to meet with the IRS, unless you want to. Service provided by TaxResources, Inc.; additional fees apply.