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

Has anybody reported the error on Schedule C, Line 23 where it says "Form Form 1098 impact"?

A minor nit that should have been picked up and fixed by the word processor.Currently (Turbotax 2025/ Home and Business; Application: 2025.r20.027, Build Date: Feb 16, 2026 at 17:49:25)Schedule C, line 23 says "Form Form 1098 import" and should say "... read more

where do you input doner advise fund info and form 8282

I have an entry for Box 14 labelled "RESST". What category do I label this as?

Turbotax Business form 1065 gift of shares

Form 1065 K1 section L Parner's Capital. I gifted some shares to my child. How do I get section L to update the correct partner balance? I did change section J "share of profit...." , that does nothing about the capital account balances in section L.... read more

How do I resolve: Check this Entry Capital Asset Sales Worksheet, Is this a Digital Asset Y/N

State form 568 and not notice from turbo tax of need to file seperately

if, as i've seen in the threads, Turbo Tax cannot efile CA State 568, why doesn't it produce the form for submission by mail, and why doesn't the product notify me that it won't produce the form or efile?

I still cannot enter K1 loss information even though it's 2/16/26

The system will not respond to either a document upload or entering the information, the loss will not show up no matter how many times I enter it, even deleting and re-entering doesn't work. Clearing browser data, using incognito, nothing works.

This seems contradictory:This business is part of the following activities: This business is independent of any other activities. (Part of an aggregated business.)

When asking whether a business should be treated as combined businesses, there is a button that says "This business is independent of any other activities. (Part of an aggregated business)." The parenthetical part sounds contradictory to the first pa... read more