[Hidden-tech] TAXES

Jan Werner jwerner at jwdp.com
Tue Mar 29 07:49:38 EDT 2016


There are two Business versions of TurboTax:

TurboTax Home & Business is what you need if you are unincorporated and 
filing a Schedule C. It handles everything related to that, including 
home office. It has a reasonably good walk-through and suggestions for 
people filing their own taxes without an accountant.

TurboTax for Business is what you need if your business is incorporated 
or if you need to file taxes for an estate or trust.

Although you can use the latter for a Schedule C too, if both of the 
above situations apply to you, I'd recommend getting both versions since 
Business does not provide as much guidance for self-employed individuals 
as Home & Business.

I also recommend buying the physical CD and installing from that rather 
than the download version (which costs the same), as it's easier to 
re-install if you run into any problems later.

Also, visit the IRS Web site and get the appropriate publications from 
them. They are far better (IMO) than most books that purport to advise 
taxpayers on how to file their own taxes.

https://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Publications-and-Forms-for-the-Self-Employed

Finally, file taxes on paper rather than efile. That lowers the chance 
of being audited and provides better documentation if you are.

Jan Werner
__________

Rich Roth wrote:
>
>
>
>
>
> turbo tax business version, I've only used the PC version so can't
> comment on Mac version
>
> I've used it for years, only switched to an accountant until business
> got too complex,
> expect to switch back this year
>
> Rich
>
> On 3/28/2016 6:04 PM, Annamarie Pluhar wrote:
>>
>> Related query...
>>
>> I just heard from my accountant of 24 years (!!) that he is not well
>> and won't be able to do my taxes. I'm willing to do them myself IF
>> there is good software to help. I'm in Vermont, self-employed, home
>> use for business etc. Recommendations?
>>
>> Thanks
>> Annamarie
>>
>> On 28 Mar 2016, at 17:52, Rich Roth wrote:
>>
>>     2 Recommendations at the top of the Valley:
>>     - http://www.teaandtaxes.com/ - Wendy Marsden
>>     - http://www.sdccpa.net/ - Steve Chamberlin
>>     both CPA's
>>
>>     HOWEVER given the date, I would seriously consider filing a tax
>>     extension -- it's one short form like:
>>     "I need an extension and I think I owe $XYZ, check enclosed."
>>
>>     You are supposed to pay any tax owed with that extension, which
>>     (of course) requires you to have filed out your taxes.
>>
>>     BUT the worst case is a small penalty on your underpayment -- and
>>     since you have employment income and hence
>>     some withholding, you're probably not up for much of a fine.
>>     (disclaimer: I am neither a CPA or tax lawyer -- I just been
>>     running businesses for (ah) 30+++ years)
>>
>>     Rich
>>
>>     On 3/28/2016 2:19 PM, Christine Dutton wrote:
>>
>>         Hello,
>>         I thought I was all set w/ someone to do taxes for 2015, and
>>         my contact has fallen through. I have an employment income and
>>         a small consulting business with minimal & uncomplicated
>>         expenses. Please send recommendations!
>>         Thank you!
>>         Christine
>>
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>> Rich Roth
>> Webmaster/Steering Committee Member
>> Hidden-techhttp://www.hidden-tech.net
>> The Talent you need is right here,
>> Join and share your skills
>> ((Sponsored by Thrives Media))
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