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Which Turbo Tax should I purchase for my home based business?

By: Rick Gossett

 

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Which Turbo Tax should I purchase for my home based business?

Answer:
Turbo tax software: Intuit has several versions of TurboTax software that are geared toward the different tax preparation needs of its customers.  For example, if you have a home-based business that is structured as a sole proprietorship, which is an unincorporated business owned by one person, then the Home & Business version would generally be the preferred choice.  However, if you have been in business for a long period of time and are familiar with the business expense deductions for your particular business and familiar with preparing Schedules C and SE, Forms 4562 and 8829 and other business-related schedules and forms, then the Deluxe version may be acceptable.  The following discussions and the comparison tools on Intuit’s website may help you select the appropriate version:

Intuit TurboTax selection and comparison tools:

Published: October 1, 2013
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Rick Gossett

As COO of Tarkenton Companies for more than 20 years, Rick has been responsible for business software development, unique partnerships, business educational content and consulting, and more. Rick was the originator of Tarkenton Companies’s consulting service and initially handled all of the questions himself. Prior to joining Tarkenton Companies, Rick owned and operated a private practice as a CPA. Prior to that, he was a Senior Manager at Pannell Kerr Forster in tax and audit, as well as Principal in Ernst & Young's small business advisory group.

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