Small Business, Farm & Startup Tax Forum

Business & farm

Employee vs Contractor: Which is correct?

As a business owner, it’s important to know how you should treat payments you make to the people who work for you. The simplest explanation is that an “employee” has taxes withheld from their paychecks and receives a W-2 at tax time - while “contract... read more

LLC, Sole Proprietor, S-Corp, Partnership: What’s the Difference?

Creating a Limited Liability Company (LLC) is a common first step when starting a business, and there are good reasons. It’s a legal entity that potentially offers liability protection, but it’s usually easier and less costly to create than a corpora... read more

Can I Deduct My Home Office?

Working from home has its pros and cons! And if you do work from home, a juicy tax break would be a great bonus. Typically, being allowed to take a deduction for your home office is limited to self-employed individuals on the federal (IRS) side, but ... read more

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

Where do I find start up cost business form

Where do I find the form for start up cost credit for a new business within Turbo Tax? I have not seen it yet

Sale of Non-Business Items

I was a self employed musician for many years, and I retired from performing in early 2025. My sheet music library contained approximately 500 titles which I then sold. There were very few titles that I took a deduction on when they were purchased, p... read more

How do I resolve this error: AMT dep allowed is too large. For disposition calculations, depreciation cannot exceed business basis.

I am using the standard deduction and I don't THINK this is supposed to be a problem, but I can't figure out WHERE to edit this. I have even tried deleting the car and entering it anew, but the problem remains.

Walgreens 1099-B: Box 1e Cost or Other Basis is empty

Hi, In 2025 Walgreens stopped distributing dividends and sold the common stocks (WAL1). In 2026, my sister received a 1099-B and Box 1e Cost or Other Basis was left empty. She worked for Walgreens 1999-2010. She did not purchase stocks, nor employee ... read more

Unable to enter NOL carry forward amount from 2024?

I had the same issue during 2024 where the carry forward NOL was not copied and had to enter manually, but the option to enter is not available in the desk top version How to? Please help

I've been trying to remove the vehicle from my schedule C in my self employment income, but I can't get to schedule C anywhere. I'm using the online version. Help!

Schedule F filing requirement for zero income zero expenses

What is the Schedule F filing requirement for a startup farm with no expenses (no start up costs or anything) or income for 2025? My relative wants to raise trees and applied for an EIN for an LLC in 2025 but there was zero activity (other than a sta... read more