Small Business, Farm & Startup Tax Forum

Business & farm

Easily File 1099-NEC or W-2 Forms: Quick Employer Forms (QEF)

Did you pay someone to help with your business? If so, you might need to file a W-2 form for an employee or a Form 1099-NEC for contracted help. If you have bona fide W-2 employees, you’re probably already withholding taxes and you know those W-2 for... read more

Vehicle Deductions: All You Need to Know!

Do you want to drive away with massive vehicle tax deductions? Before you race to the tax-filing finish line, there are things you need to know to ensure that tax win! While vehicle deductions can be huge, there’s a great responsibility to thoroughly... read more

Self-Employed: Don’t Miss These Tax Moves!

You don’t know what you don’t know! For example, did you know that many self-employed taxpayers qualify for a health insurance tax deduction? Or did you know that if you don’t file the proper forms for employers and contractors (on time), the IRS cou... read more

Quick Links for Self-employed & Gig Workers!

Having a business is both exciting and rewarding! But it can be confusing if you don’t know what it means for your tax returns. Whether you’re starting off and plan to conquer the world with your new business, have a side gig for a little extra cash,... read more

I have a K-1, and as a general partner, I had IDC deductions, which should be an active loss based on section 263C. But turboTax treat this as passive loss, how to fix?

I tend to think this is a TurboTax bug, but I don't have a customer service number to call...

Where to enter the Oregon K-1 information from Schedule OR-K-1

I am reviewing the tax forms and it came up as "Check This Entry" "IT-201-X Pg 1-2 -- IT-201-X Pg 5-6: Fed Change Desc - Line a must be entered. 86 List federal changes

When filing with turbo tax through self employment, does social security tax come out of his business taxes ? How does this work?

I’m not understanding does it automatically come out or do we need to do something to assure it comes out social security I’m talking about?

do you report loan income on your 1120S return

this is for loans for 2 fix and flip projects, one we sold and realized profit, one we did not

Cannot enter the last 4 digits of the bank account number for Estimated tax payment for EFTPS

Hi - I am using TurboTax for Business 2024 desktop, and tried to enter the estimated tax payments. It says I need to enter the last four digits of the bank account number and the confirmation number for each quarter. But after I entered all the info,... read more

Turbo Tax Business Not Computing Excess SS tax correctly with two W-2 and Schedule C income

With two W-2 jobs, plus Schedule C income. One of the W-2 hits the Social Security Tax Maximum. Thus, the second W-2 Social Security Tax is Excess, which Turbo Tax Business detects and fills out the form (Schedule 3) correctly. But with the Schedule ... read more

Claiming Helene tree damage

If I can claim the cost of tree removal from TS Helene on From 4684 can I still claim the standard deduction?

V-Section 199A information on K1 Line 17 on K1

It asks for an amount. What value do I need to figure or can I leave it blank? I have a loss of $10,103 and an owner income of $2003. Do I subtract the loss from owners income to come up with an answer? Please advise. Thanks

How to amend or undo a submitted partnership return when I should have just filed as a single member LLC?

My husband opened a LLC with the state of Florida. His EIN is for a sole member. When I did our taxes I purchased Turbo Tax Business. I filed our taxes as a 50/50 partnership. I only submitted the business taxes to the IRS. I thought I had to file th... read more