Kat
Level 15
Level 15

After you file

@brettascott TurboTax Home & Business is simply a tax preparation program for income tax returns.  The word, "Business" in the title indicates that the program is appropriate for self-employed individuals.  It can also be used by a single-member LLC.  

 

The program is for preparing your tax return and very little more.  You, as the business owner (self-employed, Schedule C filer) are responsible for payroll for your employees, withholding appropriate taxes from that payroll, filing required reports (both quarterly and annually) to the IRS and any state taxing authority.  

 

When using the TurboTax Home & Business software program, the taxpayer must enter the correct amounts into each field, including employee wages, and any other qualified business expenses associated with the business.

 

The IRS webpage linked below is a basic primer for self-employed individuals.
https://www.irs.gov/businesses/small-businesses-self-employed/self-employed-individuals-tax-center

 

See the linked IRS publication below for info on business deductions.

https://www.irs.gov/pub/irs-pdf/p535.pdf

 

*** I am NOT a tax expert. I am a seasoned TurboTax user, and volunteer to provide assistance to TT users. Nothing I post is to be considered TAX ADVICE; I bear no legal liability for responses.***