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

I have this one error that I cannot resolve: net income allowable to qualified payments to agriculture or horticulture coop. I have negative gross income.

I keep getting this one error about a 1099-PATR line K1 in my worksheet. It asks for "net income allowable to qualified payments to agriculture or horticulture coop" but I have none of this income. How can I resolve this error? I do have a a loss of ... read more

I received a 2024 Schedule K-1 (Form 1041) for tax year ending in 2025. Now what?

I received a 2024 Schedule K-1 (Form 1041) Beneficiary's Share for tax year ending 5/31/2025 for a RVOC Trust. The values are:Box 1 $52Box 2a $23Box 2b $3Box 3 $6Box 4a $10,940Box 5 $21,390Box 14 Code E $75Box 14 Code H -$21,389Box 14 Code ZZ $3 Do I... read more

My tips from box 7 and box 14 are very different what should I do?

box 14 description my input is " FSA " wants a category

select a category for FSA

how can i manually enter a passive income carryover on form 1116

i have an excess passive loss carryover from 2024 on form 1116 and I cannot see how to enter it in turbotax online

Where do I submit schedule c income

I worke dpart time food delivery for door dash and made 292, do I report schedule c

Turbo Tax Desktop Business 2025 Farm Income Glitch

Turbo Tax keeps saying that "I indicated earlier that I have farming income activity" for a partnership and it is looking for me to enter farming income in the farming section. I never input or indicated that I have farming income for this company. H... read more