![]() Intuit partners with a number of companies so that you can use your name & SSN & place of employment to access your W-2 right there. Things I Liked About TurboTax Home & Business Online Import Your W-2Īn exciting feature of TurboTax that I wasn’t able to use (so it’s more potentially exciting than actually exciting) was a new feature which allows you to import your W-2 form. The guided tour was a little slow, but I wanted to be sure that I didn’t miss anything. I decided to use the guided tour, but when I went back over it after finishing I navigated using the other method. There are two options in this section-one is the TurboTax guided tour, the other is an overview screen which allows you to navigate on your own. In the income section, there are places for any 1099 forms you received as well as general income (income not in a 1099), other types of income, and income you refunded/rebated or otherwise gave back:īecause I had my payment data in order, I found the whole process quite easy and straightforward. If you have a few businesses in a few different areas that you want to keep separate-blogging, web consulting, etc, you can set up a profile for each one:įor each business, you set up a profile (including the IRS business activity code), import information from any record keeping software, add income, expenses, and misc: TurboTax Home & Business doesn’t assume that you have just one small business or consulting project. You can click on the images to see larger versions with more detail. I didn’t take a shot of each page and I did black out some information, of course. Using some of the screenshots I took, let me walk you through parts of the business income section. TurboTax Home & Business also includes the features of TurboTax Premier for people with investment and rental property income.ĭoing Your Freelance/Small Business Taxes To save information between sessions (or just to make sure you don’t lose it if your computer/browser crashes) be sure to create a free account. You pay at the end, right before you file. The other big advantage is that you can try any of the TurboTax Online products before you buy. Since I don’t like installing extra software on my computer each year and having to uninstall if afterward, I liked the idea. The major advantage is that it doesn’t require installing software on your computer. The Online version is simply an easier way of using the program and done in a browser. I’m going to be writing about the Online version, not all the things I mention may be included in the software. It’s not just for your small business taxes, you can enter your and your spouse’s W-2s, if you have any, and do regular taxes using it as well. TurboTax Home & Business is for sole-proprietors, consultants (including freelancers), 1099 contractors, and single-owner LLCs. Who is TurboTax Home & Business Online For? ![]() This was also my first time using an online tax filing product instead of a program installed on my computer. Until this year, I’d been using the comparable TaxCut (now H&R Block at Home) product, which I won in a giveaway for my 2007 taxes and bought in 2008 since I was already used to the interface. I filed my 2009 taxes on Sunday using a review copy of TurboTax Home & Business Online, which allows me to file Schedule C-a necessity for almost all freelancers and sole proprietors.
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