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

Still download Itsdeductable in January 2026

Can this still be done? Or at least get to the list of charities and their addresses. Would that be in a turbo tax download or import/transfer from 2024 tax file?

How do you fill out the Adjusted basis of total investment assets field on the form 1116 worksheet? Or since it's just a worksheet should I delete it?

I'm stuck at the final review due to the Adjusted basis of total investment assets field on the 1116 worksheet and unsure how to proceed.

How can I get Schedule 1A?

Why doesn't Schedule 1A appear as an option for deductions?

I am entering K-1 on my personal return. I have a single member LLC filing as an s-corp. Do I select "This is for a disregarded entity" on the info page?

anyone get final review fix issue regarding Schedule E worksheet - unable to input the Passive Operating Loss?

I am stuck in a repetitive "Check This Entry" loop during the Federal Review that I cannot bypass. The error specifically flags the Schedule E Worksheet, stating: "Passive Operating Loss must be entered."

multiple 8881s?

I want to claim the "Small Employer Auto-Enrollment Credit" for both my business and my spouses (separate) business. Do I need to submit two 8881s or somehow type $1000 into line 9 instead of $500?

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

What is Schedule I: Part II, Line 1a, Col II that needs to be filled in for WI state returns? TurboTax won't take me back to that section and just wants me to enter it.

TT says this is required, but provides zero information now that I'm through their sections. It won't take me back into their flow to review it. Absolutely horrible design.