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

Inventory

I started a new business is 2024. I filed my own taxes and, being a the first time filing a business, I neglected to fill out the inventory at the beginning and end of 2024. Since we now have a great deal of inventory, it doesn't seem to make sense t... read more

A husband and wife were partners in an LLC. The w transf her shares to h at the end of September 2025. How do I report get TTax to show the wife's 9months of income?

I changed their ownership percentages on the K-1 w/s which resulted in husband getting 100% of income on his K-1 and nothing for the wife. Where else do I need to record this transfer?

How do I know what category to select for box 14?

OR STT on box 14. What category is that?

can i remove schedule D from my 2025 tax info using turbo tax free online

How can I correct this entry? Qualified Business Income Component wkst/

Ref Code 7-066-538

Form 1065 Section 6221(b) election

I am using the Business Desktop version 2025 for my partnership. I keep getting the following error:"You indicated the partnership is electing out of the centralized partnership audit regime under section 6221(b). Be sure to complete Schedule B-2" Sc... read more

Program or calculation error on Farming Net Profit/Loss Screen

As can be seen in the screen shot below, only one farm is listed. The values/calculations on the first line are correct, but on the TOTALS line, the last (Net Profit/Loss) line should match the line above and does not.

Turbo tax Depreciation is still not ready. I am leaving for good. H&R Block is cheaper on Amazon

I tred to report sale of a rental property.. I got this message.... Depreciation and Amortization will be ready by February, but likely sooner"... I have called and asked about this 6 times. I get a different answer from customer support every time. ... read more