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  You have to go to Step 2 in the FILE section.   HOW TO CHANGE OR ENTER BANKING INFORMATION FOR REFUND https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/change-transferr... See more...
  You have to go to Step 2 in the FILE section.   HOW TO CHANGE OR ENTER BANKING INFORMATION FOR REFUND https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/change-transferred-direct-deposit-information/L77NCbU6D_US_en_US?uid=m6tuh572     You cannot  change banking information while your return is in pending, nor can you change it after the return is accepted.  The IRS does not allow it.    
Change my direct deposit
I was considering to rent a room of the house where I live (and that I own). Do I need to open a business to manage the money I would receive from rental income or can I simply receive them in my per... See more...
I was considering to rent a room of the house where I live (and that I own). Do I need to open a business to manage the money I would receive from rental income or can I simply receive them in my personal bank account?  What expenses can I deduct? general repairs?  home improvements of the common aereas/appliances ? bills? property taxes? interest on the mortgage? Thank you
Read through the following article:   https://www.floridaregisteredagent.com/florida-llc/single-member-llc
Also if you file an extension, you would have up to the extension deadline date to contribute to the SEP IRA
It is possible to have multiple lines of business under the same LLC and EIN.  You would not necessarily need to create separate business bank accounts.  If you do create multiple lines of business u... See more...
It is possible to have multiple lines of business under the same LLC and EIN.  You would not necessarily need to create separate business bank accounts.  If you do create multiple lines of business under the same LLC, for your own clarity I would recommend that you use a bookkeeping method that allows you to track the revenue and expenses associated with each line of business as well as your general unallocated corporate overhead.   You may wish to register a fictitious business name for each line of business.  You could use these names for purposes such as marketing and professional licensure.   One disadvantage of having multiple lines of business under the same LLC is that, while the LLC limits personal liability for losses and risks of the LLC, it may not protect each line of business from the losses and risks of the others.  Please consult a legal professional for further information.
I have a single member LLC. I know it's a complex topic but I would like to know how to better maximize  my deductions and save on taxes. For example: - how to know if a business expense is a write... See more...
I have a single member LLC. I know it's a complex topic but I would like to know how to better maximize  my deductions and save on taxes. For example: - how to know if a business expense is a write off or not? -is it better to lower my taxable income through investing the money I made that year into my own business or contributing in a retirement account . How do I calculate how much should I invest/contribute at the end of the year to save on taxes?   Other than general advice I would like to know if there is any book, video, course, or any kind of  resource that could help me to learn more about it. Thank you 
There are other factors to consider as well before deciding on SEP IRA or Solos 401(k). A SEP IRA does give you flexibility in contributing one year and not contributing in another, you cannot take a... See more...
There are other factors to consider as well before deciding on SEP IRA or Solos 401(k). A SEP IRA does give you flexibility in contributing one year and not contributing in another, you cannot take a loan from the SEP IRA. You will also have no Roth option with a SEP IRA. Solo 401(k) is only there if you are the sole employee of the company. You can easily open and manage a SEP IRA yourself. Most brokerage firms will handle the back end forms and requirements while you manage the investments, like a regular IRA. Whether you use someone to manage the investments depends on your comfort and knowledge of the investing. The contributions do not have to be made quarterly or throughout the year. They can be made at the year end or by April 15th tax filing deadline to be deductible from your tax return. You can also make them in small chunks during the year if you like. I would recommend making the complete contribution before filing the tax return. 
I live in Florida and I have a single member LLC. I was considering to open a second business but I was wondering if I could create it under the same LLC (keeping separate business bank accounts and ... See more...
I live in Florida and I have a single member LLC. I was considering to open a second business but I was wondering if I could create it under the same LLC (keeping separate business bank accounts and bookkeeping of course). Like that I would reduce costs associated with multiple formations, annual reports, and other administrative filings. If it's possible to do so, I would like to know if there is any other aspect I should consider (pros and cons). Thank you 
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!!