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What type of business? C Corp, S Corp, Partnership, Multi-Member LLC, Sole Proprietor/Independent Contractor, Single Member LLC that is Not incorporated
Partnership for a Barbershop. I need help badly
@onebestkeptsecre wrote:
Partnership for a Barbershop. I need help badly
To complete and file a Partnership tax return, Form 1065, you will need to purchase the TurboTax Business Edition - https://turbotax.intuit.com/small-business-taxes/
The Business Edition can only be installed on a Windows based personal computer, not online or on a Mac.
The Business Edition cannot be used for a personal tax return, Form 1040
If you are the sole owner of the barbershop, you are self-employed and will file Schedule C with your personal tax return.
The easiest way to find Schedule C in TurboTax Online is to open your return and click the magnifying glass at the top right side of the TurboTax header. Enter "schedule c", hit Enter, then click on "jump to schedule c". This will take you directly to the start of this section where you can set up your business and enter your income & expenses.
Follow the interview to answer questions about your business. You'll also need to know your total income and expenses for the year, plus the cost of any assets that will last more than one year.
Additional Information:
TurboTax Full Service Business online is available now and will perform on a Mac if you like. TurboTax assisted is available in several states and will also run on a Mac.
Here's the link to full service.
Here's the link to assisted business.
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