Hi, this year i need to file for an scorp too, do you guys do state and federal filing? also how much is it? and when should i file it around to then start my personaltax

[Opus 17]

To file a corporate or partnership tax return form 1065 or 1120, including S-corps, you need to use Turbotax Business.  This is different from Home & Business, which is for personal tax returns that include self-employment.  Turbotax Business is only available on CD or download for PC, there is no Mac or online version.   Your S-corp return will be due March 15, not April 15.  You probably need to finish the S-corp return before you can finish your personal return, since you may need to include information from the corporate return on your personal return.  

Turbotax Business will probably be available around mid to late November, although it may take until January for the forms to be finalized to allow you to actually file a return. 

[VolvoGirl]

Yes they have a separate desktop program for Business returns.  You can buy 2020 Business here,

https://turbotax.intuit.com/small-business-taxes/ 

You need a full Windows computer to install it on.  You can not do it Online or on a Mac.  Then you will still need to use a personal version to do your individual 1040 return.  For personal you can use either the Online version or buy a Desktop CD/Download program.  

[Anonymous]

my advice would be to seek out a tax pro the first year.    they could give you tips to save taxes and could point out things you not doing correctly which can cause serious tax and other problems both for the current year and in the future.  

examples:

for a 2020 calendar year S-corp, the return is due 3/15/2021 but can be extended.

some states tax the income others do not 

did you take a salary?

did you pay for health insurance that you want to deduct as self-employed health insurance?  there are certain tax rules that must be followed otherwise you get no deduction. 

maybe your state requires the S-Corp to carry workmen's compensation insurance even if you are the only employee. failure would result in big fines. 

did you incur start-up costs? there are certain tax rules for deducting them. 

if the S-Corp has a loss do you have enough basis to deduct it on your 1040?