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

IRS Notice CP504B, Notice of Tax Levy - penalty for missing Schedule K-1s

I am one of two members of an MMLLC and we filed Form 1065 for 2024, along with the K-1s as we normally do (the IRS acknowledges receipt of the tax return). However, we received IRS Notice CP162B, dated February 23, 2026, showing a balance due from n... read more

for OREGON: 2025 Schedule OR-ASC-FID

Does anyone know where exactly I"m supposed to enter the info in this form? The drop down "Select a Product Windows" are not working I am using a Mac with TT Home and Biz. I'm filing as a non-resident of OR, too in case that matters. Thanks in advanc... read more

Oregon-Specific Schedule OR-K-1

I spent nearly and hour with a TT tax advisor who couldn't figure out where to enter the info in a Schedule OR-K-1 document. The tax advisor told me I should NOT enter it in the federal section as so many of these older posts are telling people. Anyo... read more

How do i cancel my order summary?

I have not gone all the way to filing but I paid for my summary and I need to cancel it. I chose the wrong program all together.

QBI deduction for business income passed through from a trust

How to enter 199A information for a beneficiary from line 14 Code I of a trust K-1 for a second independent business.?

Can I files 1041 for estates?

Where do I file K-1 Form 1041 Estate info?

TurboTax smart check wrong on Business ITC form 3468

Turbotax software is telling me I cannot efile and need to mail in my return because I need to fill out form 7220 for prevailing wage verification for claiming the solar low income bonus, but I qualify for the 7220 exception for system size being und... read more