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

Schedule K-1 Box 11 Code A

My Issue is that I have it as other income and description is Misc Income for $4. The $4 shows up in Schedule Q as REIMC. It was automatically going to REIMC and I unclicked it. Turned it to my own description and still won't apply. HELP!

business 2025 ohio schedule k1 still not downloading but email says it is ready.

I am trying to get my k-1 information in this Do It Yourself Premium. There is no Turbo Tax Help on the left hand bar. Form does not go to Schedule A K-1.

Turbo Tax program does not go to Schedule A to enter K-1 information. Error says to enter info but form not available. Technical Turbo Tax issue?

Question on K-1 Box5

I have a schedule K-1 that I'm entering in TurboTax. TurboTax has two fields to enter data for Box 5; "Interest Income" and "Interest from U.S. Obligations in Box 5". On my Schedule K-1 it has an amount of $102 in Box 5. There is also code ZZ in Box ... read more

Car adjusted basis potentially incorrect. How do I do this?

TT Deluxe Desktop version: I owned a car since 2021. I sold it this year half way through the year. I traded it in for 20000. I bought it for 30054. I used it for 7.28% of the time for business. I tracked my mileage every year and used standard milea... read more

Corrupt file after uodate

After updating today, my tax file won't open and it says it is corrupt. I had no issues opening it before the update. I've tried restarting everything, opening Turbo Tax as admin, nothing has worked.

2025 Schedule OR-ASC code 897 credit

Credit amount on 2025 Schedule OR-ASC for code 897 is wrong amount. It shows the maximum $360 allowed, not the percentage I am allowed based on my AGI. I need Turbo Tax to recalculate and fill in correct amount. I think this is a software issue Turbo... read more