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

Two-member LLC with loss for the year

I have a two-member LLC with my wife that is taxed as an S-Corp. The business had a loss for the year, but my wife was passive for the first 9 months of the year and active for the last three months of the year. Can she still claim the loss against h... read more

is there a way to enter the start up cost for a new business?

I opened a furniture store

In TT Home & Business Desktop - where do I enter unreimbursed legal fees for derivative action against partners?

I am suing my partners on behalf of the firm for breach of fiduciary duty and am not being reimbursed legal fees - I was told that goes on Schedule E part 2 line 28(i), but i cannot figure out where to put the information in the guidance system and i... read more

My LLC car lease paid with personal funds

I have an LLC, and I leased a car that is used entirely for business. I paid the lease payments with my personal funds instead of from the LLC bank account. Can I still deduct the lease payments? Is there anything I can do now to make the situation c... read more

how do i change my answer to Yes I issued 1099NEC to my subcontractor

where do I put COGS section

delete form 1815-f

I have submitted my taxes and when reviewing, I see that the business income line does not have the value I entered. What can I do to rectify this?

The schedule C is missing the amount earned after I have already submitted the taxes

This answer has been verified for accuracy by an Intuit expert employee Am I an active participant?

I am a 1099-NEC worker. I am contracted under one business and usually work between 20-30 hours per week. I'm not sure how to answer the yes or no statement "I didn't actively participate in the operation of this business." I definitely worked more t... read more