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

TurboTax desktop Mac OS 2025 won't 'transfer' *.tax2024. I click on file and it does nothing

TurboTax desktop Mac OS 2025 won't 'transfer' *.tax2024. What's going on??!! "Find your tax return" on your computer, I navigated to the *.tax2024, click on file and it does nothing

Reporting Gambling Income - Session Method

Is TurboTax planning to add the capability of reporting gambling activity using the Session Method of tracking/reporting wins and losses? I can't imagine I am the only tax-payer in the United States who files with TurboTax and elects to use the Sessi... read more

Change depreciation schedule from 7 years to 5 for a work vehicle under 6000 pounds.

I placed a new car in service in July 2024 and used the bonus depreciation. I reviewed last years files and see the vehicle is on a 7 year depreciation schedule. What is required to change the schedule to 5 years using Turbo Tax? Do I need to amend m... read more

Why have I received an SSA employer questionnaire for "NO RECORD OF EMPLOYER REPORT" for a W2 and W3 for which I received an email from intuit quick employer forms stating the SSA had accepted the form? The tax year, ein, and amounts are correct.

where do I list 199 R

1099 R listing

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

Vehicle sale calculating entire sale price as gain

I used a new vehicle for a small percentage of its mileage for my rental property, so I took the standard mileage deduction. I have now sold the vehicle (traded it in) and TurboTax is calculating the entire sale price as a gain: Business portion of p... read more