9/1/2023 0 Comments Turbotax for business s corpIf you choose to file your state taxes through TaxAct, you will need to pay an additional $39.99. Regardless of which product you choose, you can expect to pay a base price of $59.99 for your federal forms. For example, if you own a single-member LLC, you can select the Sole Proprietor option, which will allow you to file the Schedule C and 1040 tax return forms. By selecting the correct entity, you’ll gain access to the basic filing forms required for that business structure: 1120, 1120S, 1040, Schedule C, and 1965. TaxAct offers four specific products, each based on the needs of a specific business entity: S Corps, C Corps, Partnerships, and Sole Proprietorships. There are, however, a few significant differences between the two, the nature of which may make one more suitable than the other. Though there are numerous options available, TaxAct and TurboTax remain two of the most popular options.īoth of these programs offer the basic tools you’ll need to complete your taxes. Though many small business owners turn to tax professionals to fulfill their yearly IRS obligations, others are turning to increasingly efficient tax preparation software.
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