TurboTax Business — Easily Prepare and File Your Business Taxes

It’s easier than ever to do your own business taxes.

Knows Your Business and Does the Hard Work
for You

With TurboTax Business, you don’t need to know a thing about business taxes. Its customized interview tailors itself to your type of business (corporation, partnership, or multi-member LLC) and provides extra guidance to simplify tax preparation and help you maximize tax savings. Just answer simple questions and let TurboTax do the rest.

•  Imports Your QuickBooks Data — Saves you time and retyping and helps ensure accuracy. You can use your QuickBooks¹ tax-ready data to easily import your Profit and Loss statement. If your chart of accounts is not tax ready,² TurboTax automatically imports your QuickBooks income and expense accounts and classifies them in the appropriate tax categories that you can edit.
•  Simplifies Entering Income and Expenses — Speeds you through entering all your business expenses, no matter how you track them. If you have a Profit & Loss statement, TurboTax streamlines data entry so you can quickly enter all your income and expenses. If you track expenses manually, TurboTax gives you all the guidance you need to ensure you’ve covered all income sources and expense categories.
•  Even Easier for Returning Users — Saves time by transferring last year’s data, including all depreciable assets, to your 2008 TurboTax Business return. A new year-over-year comparison to last year’s return provides extra guidance.
• Creates W-2 and 1099-MISC Forms — Helps you prepare forms for employees and contractors. Does all calculations and prints on plain paper—no need for special-colored-ink forms. There’s no limit on the number of forms you can prepare.
• Handles Multiple Businesses — Lets you prepare returns for multiple businesses, even if they are different entity types. Provides extra guidance for entering multiple businesses.
• Includes Extra Guidance for New Businesses — Shows which start-up costs new businesses can deduct.
•  Makes State Business Taxes Easier, Too — No retyping necessary! Transfers your federal data to TurboTax Business State³ so you can complete your state return quickly, easily and with greater accuracy.
•  Federal Efile Included — Federal efile is now included with TurboTax Business. It’s easier and more accurate than paper filing and is the IRS’s preferred filing method.⁴

Maximizes Business Deductions

• 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. Provides extra help for 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 if you should fully deduct equipment this year or if you need to depreciate.
  • Promotion and Advertising: Learn how to deduct expenses like 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 help you spot commonly overlooked deductions.
•  Simplifies Asset Depreciation — Reviews your large purchases (assets) and helps you determine the most advantageous, tax-saving strategy for your assets. Then guides you through calculating and reporting depreciation.

Provides Support and Guidance Each Step of the Way

• World-Class Help Built Right In — Provides 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 of 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 e-mail, phone or live chat.
• Also Available: Live Tax Advice — Offers 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

Your risk of an audit is already low: less than 1% of all C Corp, S Corp, and partnership returns are audited (as compared to more than 3% of Schedule C returns).⁵ TurboTax helps you reduce your risk even further.

• Accurately Calculates Your Taxes, Guaranteed — Does all the math for you and we guarantee its accuracy. Chances are slim, but if you should get hit with an IRS or state penalty or interest because of a TurboTax calculation error, we’ll pay you the penalty and interest.
• 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 — Provides full-service representation by a trained tax professional. You will never have to meet with the IRS, unless you want to.⁶