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

how do i list the sale of a depreciable asset?

Last year we had schedule c but not for 2025. I removed it from federal but won’t delete from state even though I click “business doesn’t exist”/“do not report on state”.

It’s still appearing as though it’s going to add schedule c to state. How can I get it out of there?

Rental Real Estate Expenses not calculating correctly for Turbotax Business 2025

In Turbotax Business 2025, the "Other deductions" entry in Rental Real Estate is not summing the entries properly. The total in the summary is $26,539, but the sum of the total entries is $25,958 for a difference of $580.79. This appears to be a bug.

TurboTax Business 2025 Schedule L

Turbotax Business is not adding assets added in 2025 on Schedule L, Line 9a, column (c). Any suggestions?

Error- Cannot enter farm income, information, nothing! On phone with turbotax for 38 minutes, with no resolution!

Is anyone else getting error messages when trying to enter farm income? I have spoken to a rep, cleared all browsing history, deleted my forms completely and started over, tried different browsers, tried different computers, and no resolve! When I cl... read more

Section 1244

Can I file Section 1244 in TurboTax Deluxe Desktop or do I need to upgrade to TurboTax Premier ?

48E General Credit Carryback

Research is telling me that Form 3468 Part V 48E credits should be able to be carried back 3 years. Is this true? In turbo tax 2024 under Form 3800 carryback I see the option for the Part V carryback identified as 1v, but going past that ( turbo tax ... read more