turbotax icon
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

All Posts

I'm self employed (I have single-member LLC). I already contribute to a Roth Ira and I was considering to open a SEP IRA or Solo 401k. I was reading that a SEP IRA has lower contribution limits but i... See more...
I'm self employed (I have single-member LLC). I already contribute to a Roth Ira and I was considering to open a SEP IRA or Solo 401k. I was reading that a SEP IRA has lower contribution limits but it's easier to set up compared to a Solo 401k and it gives more flexibility if one I year I don't want to contribute . What else do I have to consider before I decide to open a SEP IRA? Can I open it myself or it's better to have someone that helps me manage it? Can I do all the contributions as a lump sum at the end of the year to lower my taxable income or I have to pay it regularly throughout the year?  
Federal stimulus checks were issued for tax years 2020 and 2021.  There have been no other federal stimulus checks.   It is too late to get the recovery rebate credit for the 2020 or 2021 stimulus mo... See more...
Federal stimulus checks were issued for tax years 2020 and 2021.  There have been no other federal stimulus checks.   It is too late to get the recovery rebate credit for the 2020 or 2021 stimulus money.
To request a refund for a TT product https://ttlc.intuit.com/turbotax-support/en-us/help-article/intuit-refunds/request-refund-turbotax-product/L834M6uyW_US_en_US?uid=m6meybc2   No one in the u... See more...
To request a refund for a TT product https://ttlc.intuit.com/turbotax-support/en-us/help-article/intuit-refunds/request-refund-turbotax-product/L834M6uyW_US_en_US?uid=m6meybc2   No one in the user forum can resolve a billing issue.  If you have a question about your TurboTax fees or billing, make sure you use the word “billing” in your request for help.  Do not use the word “refund.”   https://ttlc.intuit.com/turbotax-support/en-us/help-article/account-management/contact-turbotax/L2y9ZKpQB_US_en_US?uid=m5s9l2vh    
I've requested twice to get a refund on the desktop software.   No response from Customer Service.  I am hold (for 46 minutes) trying to contact Customer Service.  Is there some other way to conta... See more...
I've requested twice to get a refund on the desktop software.   No response from Customer Service.  I am hold (for 46 minutes) trying to contact Customer Service.  Is there some other way to contact Turbotax and get help? I don't want to have to do a chargeback. 
Typically if you are a single-member LLC and you file your business's and your family's taxes together using Turbotax the software would be generating a Schedule C for your business.  The versions of... See more...
Typically if you are a single-member LLC and you file your business's and your family's taxes together using Turbotax the software would be generating a Schedule C for your business.  The versions of Turbotax that support that are TurboTax Self-Employed (online) and TurboTax Home & Business (Desktop).
As a single member LLC, you are considered a disregarded entity and so your income and expenses are reported the same as a sole proprietor. The net income from this is what you will pay taxes on. The... See more...
As a single member LLC, you are considered a disregarded entity and so your income and expenses are reported the same as a sole proprietor. The net income from this is what you will pay taxes on. The distribution you take from this LLC is not taxable but is also not an expense for the company. So it does not impact your net profit (income less expenses), which is what you pay income taxes and self-employment taxes on. So you do not need to report these owner payments in your tax returns.
@Mike9241 wrote: ....look at all the fortune 500 companies that have been hacked including those that do secret projects for our military! Precisely! When I think of all of the attack surface... See more...
@Mike9241 wrote: ....look at all the fortune 500 companies that have been hacked including those that do secret projects for our military! Precisely! When I think of all of the attack surfaces to which I and probably a LOT of people are subject, it's a both a bit disconcerting and also a scenario where I have simply thrown in the towel.    I mean, a regular bank account, two brokerage accounts, credit cards, merchants, SSA, medical records, paid-off car loans and mortgages, real estate tax appraisers, and that's not to mention professional licenses I hold (that are online by virtue of state law mandates). I'm going to now add e-filing and the IRS to the mix?.......nope.
You will need to check your e-filing status in your account to see if the state return was rejected--or if it was simply not ever filed.   E-filing is closed for 2023 returns so the only way to file ... See more...
You will need to check your e-filing status in your account to see if the state return was rejected--or if it was simply not ever filed.   E-filing is closed for 2023 returns so the only way to file it now is by mail.  You will need to print, sign and date the state return in ink, and mail it to the state in an envelope.   If you owed tax due to the state, your only proof that you paid is your own bank or credit card records---which you should have watched to see that the payment was made after you filed (f you filed).        DID YOU E-FILE?   Did you e-file?   Did you go through all three steps of the FILE section and click a big orange button that said “Transmit my returns now?”     When you e-file your return you will get two emails from TurboTax.  The first one will say your return has been transmitted; the second one will tell you the IRS has accepted  or rejected your federal e-file.  If you filed a state return, there will be a third email (usually a day or two later) that tells you if the state e-file was accepted or rejected.   Check your e-file status:   https://turbotax.intuit.com/tax-tools/efile-status-lookup/    What does it say in your account?  Does it show that the return was accepted?   Or does it say something else---like "rejected," "printed," or "ready to mail?”   If you discover or realize that your e-file was rejected, you will need to print it, sign and date it in ink, and file it by mail now, since e-filing is closed for returns for tax year 2023.      
I don’t know why they didn’t get filed when I paid turbo tax to file. I did it the same time as federal. Never had issues any other filing year besides 2023. And it’s just now showing up saying I’ll o... See more...
I don’t know why they didn’t get filed when I paid turbo tax to file. I did it the same time as federal. Never had issues any other filing year besides 2023. And it’s just now showing up saying I’ll owe fees and such for non payment but I shouldn’t owe anything period!!
It will be included when you download the federal file.  How to Access prior year online returns https://ttlc.intuit.com/community/prior-year-return/help/how-do-i-access-my-prior-year-return/00/2701... See more...
It will be included when you download the federal file.  How to Access prior year online returns https://ttlc.intuit.com/community/prior-year-return/help/how-do-i-access-my-prior-year-return/00/27010 If you can't get the side menus to open up to access the prior year..... You need to start entering some basic Personal Info in 2024 for the side menu to open up. Just continue a little ways into 2024. I had to go though about 12 screens. If you used the Desktop CD/Download program then the only copy is on your computer and not saved or stored online. So you need to make and keep your own backups. Did you efile?  When you efile you get back 2 emails.  The first email only confirms the transmission.  The second email says if the IRS (or state) Accepted or Rejected your efile.  Accepted only means they accepted your return FOR Processing.  Not that your return is right.   When you log into your account you should also see the status and if it was Accepted or Rejected, Started, Printed, Ready to Mail, etc.  what does it say?
there are no new stimuluses at this time at least at the federal level. it too late to claim older ones if you did not file timely claims. If your th
I don't know about the IRS, but Intuit is currently being sued due to their 2024 security breach related to someone gained access to sensitive information related to TuboTax. Names, SSN, address, dri... See more...
I don't know about the IRS, but Intuit is currently being sued due to their 2024 security breach related to someone gained access to sensitive information related to TuboTax. Names, SSN, address, drivers license, financial data and Tax Returns.
The state of Utah is claiming that we did not file taxes and I need to make sure that I added our 1099 retirement income for the years 2022 and 2023.
Greetings @Jessica1894 , Yes, as an LLC, you would be required to collect sales tax and pay it to your state, but only if your state requires you to.  Sales tax is only collected on taxable goods i... See more...
Greetings @Jessica1894 , Yes, as an LLC, you would be required to collect sales tax and pay it to your state, but only if your state requires you to.  Sales tax is only collected on taxable goods if you live in a state that charges sales tax.   And there are many factors like the location of your business and the type of goods you sell.  There are a few states that you don't need to collect sales tax:  Alaska, Delaware, Montana, New Hampshire, and Oregon.  For the other states, there are some exemptions that are unique to each state.  To find your specific state, go here and under the Department of Revenue area, look for a department of taxation:  State Government Websites  
This is a complex question that primarily relates to tax deductibility as a business expense, not just a marketing expense.   The short answer:   It depends entirely on the specific business ... See more...
This is a complex question that primarily relates to tax deductibility as a business expense, not just a marketing expense.   The short answer:   It depends entirely on the specific business use and how meticulously it is documented. For a content creator who is an online nutrition coach and whose content is explicitly about "everything that she eats during a day," the groceries needed to film that content have a strong argument for being a direct cost of goods/production expense, which is generally 100% deductible, rather than a limited "business meal" deduction. So thats a good start.    Key Considerations for Deductibility   The IRS (and similar tax authorities in other countries) generally requires an expense to be "ordinary and necessary" for the business. According to IRS guidelines, ordinary expenses are those that are common and accepted in your trade, while necessary expenses are those that are helpful and appropriate for your business.   Ordinary: This might be pretty strait forward and may not require any sort of documentation if you are enver auidted.    How to Justify the Expense (The "Necessary" Test)   To maximize the chance of deductibility, the content creator must be able to prove that the expense is necessary for their business. Exclusivity: The food should be used only for the content. If the creator buys a large pack of chicken, uses half for the video, and the other half for a personal dinner not shown in the video, only the half used for the content is deductible. (You may want to consider a food donation plan where all food that was not used in creating content is then donated to a local food bank. You would still want to document the cost for the food used in the content creation and the cost of the food that was donated, but it may lead to the entire cost for the food being deductible) Documentation: This is crucial.  Keep all receipts for the groceries. (qucikbooks self employed has a great tool that allows you to take a picture of your receipt and attach it to you expenses so you will always have a digital copy without having to keep the physical receipts) Keep a detailed log showing the date, amount, and the specific content created with those items (e.g., "Groceries for Monday's 'What I Eat in a Day' video, uploaded 11/12/25"). Use a separate bank account/credit card for all business purchases. The Danger Zone The biggest risk is that tax authorities may view the expense as a disguised personal living expense. If the you are eating the food shown in the video for her own sustenance, especially the excess food that was not used for a specific video, it could be argued that you would have bought the food anyway, making it a non-deductible personal expense. Groceries aren't usually tax-deductible in business. Not even if you’re buying snacks to stock your home office or groceries for a meal you eat at your desk. Why? Whether you have a business or not, groceries are a necessary personal expense when you're home. You would buy the food regardless. Unfortunately, that means it’s not a necessary business expense in the eyes of the IRS.
I file as a single owner LLC.  We file using TurboTax for small businesses and file both our family's taxes and business taxes together.