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

The Code 20 record is still attached somewhere in your return I need help Removing 0. From other additions that way I can delete the code 20 line completely

The Code 20 record is still attached somewhere in my return I need help Removing 0. From other additions that way I can delete the code 20 line completely

My Schedule K-1 Produces Schedule Q which I can not delete. I do not need to enter schedule Q.

Schedule K-1 looks correct except it automatically carries a figure that does not belong in Schedule Q. I can not delete schedule Q that doesn't apply.

Land Purchase for business

Where do I record the amount for the purchase of land in a business' name?Thanks!WAZP

How can I directly import a filled out form 8949, Schedule D, and Schedule 1? This is from Koinly, a crypto tax service.

Very disappointing I cant import these forms I paid for already. They're ready to go...

How can I delete New York from Box-15?

how can i delete business account from turbotax

Section 1256 Contracts

I am reporting on one of my brokerages for the Section 1256 Contracts and am not sure which number I should enter. The 1099-B has:8 - Profit or Loss realized in 2025 on closed contracts -XXX (negative)9 - Unrealized profit or loss on open contracts 1... read more

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