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

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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

I seem to have 2 Turbo Tax returns. How do I delete one?

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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.?

2024 federal electronic filing issue

This answer has been verified for accuracy by an Intuit expert employee How can I locate the right number for allowable 2024 NOL?

How do I revoke or unsign the consent to share data with TurboTax?

The consent I’m speaking of is the first one on the page. The consent with TurboTax not Intuit. I signed thinking it was required form mainly bc there were no options to decline or skip or move forward. It made it appear that without my signature on ... read more