By Madhumanti Das
TurboTax is probably the most famous tax preparation software in United States, Canada, and UK. This software comes with many features and it is getting better with every passing year. TurboTax was basically introduced in 1980’s to make tax paying an easier experience. Since then, the company has made many changes to the original version. Technology is getting better every day to make our lives more easier. TurboTax is one of the gifts of our changing technological needs. TurboTax has a several versions available for different users. It just makes sense to choose the best for your needs. Most users may think that the TurboTax is an expensive software. But, as compared to hiring an accountant, TurboTax is much cost-effective and reliable.
Your accountant will need hundreds of dollars to spend his time on doing calculations for you. Human beings have a high ratio of committing errors and your accountant will never refund your fee if, have to face any penalty. TurboTax does all these things for you. It has a success rate of 100% accurate calculations and the company will cover all costs if, you have to face any penalty.
Features of TurboTax for Business
1. Calculates the deductions you deserve.
2. Reduce the audit risk.
3. Step-by-step guidance for making right investments.
4. Guidance for self-employment income & expenses.
5. Great data import features.
6. Imports financial data.
7. User friendly interface with an excellent support system.
8. Creates W-2 and 1099 forms.
9. It includes federal e-files.
10. This software version helps when you handle multiple businesses in different categories because, you will pay for only one state.
11. It supports 1065, 1120, and 1041.
12. Get K-1 form as a PDF for electronic submission.
The latest version of TurboTax is usually released in the mid-January. All latest law changes are published in the new version and it always comes with a better interface. However, the latest versions have some problems with the support system. Mac and PC users may have to choose different options for getting the help from the TurboTax management. The desktop version does not offer help. You will have to switch to the online version to chat with Tax experts. TurboTax has its advantages and disadvantages as compared to other tax preparation companies. But, it is the most competitive company present online. They have been in the business since 1980’s and it is a good reason to trust them.
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