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Simplifies Business Recordkeeping

I've used TurboTax products for many years. I've switched versions as my income, investments, and circumstances have changed. Now I'm using the TurboTax Home and Business version.

Home and Business does everything the other TurboTax versions do, such as itemize deductions and investments, as well as tracks the special needs of the small business owner. It uses the interview method as do all the TurboTax products. Like the other versions, Home and Business will pull information directly from major financial institutions.

Home and Business still tracks my investments and helps me with capitol gains and losses. In addition, it helps me find the most advantageous method of depreciation for my major business purchases.

The interview asks questions about the deductions relating to the small business owner, such as travel, vehicle costs, and home office expenses. It also shows what start-up costs are deductible. Home and Business asks questions specific to my industry to maximize the deductions.

Home and Business helps me prepare W2 or 1099 for my employees and contractors. It adapts as the business grows. It is appropriate for sole proprietors, consultants, contractors, and single owner LLCs.

Home and Business integrates well with the state tax return. By the time I've finished my federal return, I'm almost done with my state return. It takes a few more clicks and I'm ready to file them both. TurboTax makes it easy to eFile both returns.

I give TurboTax Home and Business a 5.

Learn more about this author, Lynn Jordan.
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