Whether you’re a sole proprietor or an independent contractor, or a multi-member LLC, TurboTax is designed to serve the varied needs of small business owners. The Intuit tax filing solution offers multiple service levels and downloadable software to help you complete the numerous forms needed for reporting your business’s expenses and earnings. The product allows you to generate W-2 forms for employees estates, contractors and contractors and 1099-MISC forms and 1099 DIV forms for trusts and estates. You can also file your taxes using the accrual accounting method, which allows for more gradual deduction of expenses than straight line method.

TurboTax utilizes a database that holds more than 350 deductions and credits to make sure you get the maximum return. TurboTax also conducts a thorough check on each return to verify the accuracy. If it discovers errors, or inaccuracies the company will be responsible for any penalties imposed by the IRS or state.

For those who need more complex tax returns, TurboTax Live Business provides year-round assistance from experts certified by the IRS who are up to date on the most recent tax-related changes both in the state and federal. It’s available in a few states and provides the option to fully hand your business’s taxes off to a tax expert (for S-corporations, partners and multi-member LLCs) by using its full service options, or you can use its turbotax self-service model to maximize credits and deductions on your own.