I'm reading on here that Turbo Tax is a good source for DIY income taxes. My question is I have self-employment income and take some deductions for running the business out of my home. Will Turbo Tax easily walk me through Schedule C and the self-employment deductions?
This was my first year doing my business taxes, I used TT and it guided me right through! I did have a question, found their phone number, called and they answered it ASAP!
I am really hoping everyone that says it is easy is using the business version. I had to use my turbo tax to do a tax project when I was in school and the personal versions messed up a lot.
Of course that is not to say the business version wouldn't make the same mistakes but I wasn't going to spend 100 dollars to do one assignment, ya know.
I have never done the step by step, takes too long so perhaps that is why it messed up, don't know. Just be careful. It is a great product but it is not perfect.
Yes - we do a schedule C and the self employment deductions every year with Turbo Tax. Totally easy. Basically, the software is set up like an interview. It will ask you if you are self employed and when you say 'yes', you'll be directed to the self employment module where it will ask what your deductions are (and suggest some if you haven't included them), etc.
Yes - my husband is self employed and I do our own taxes. I use Turbo Tax and it is easy to do. Then the next year, it will import all your information from this year into next years form so you don't have to reenter.
The program is made up so that you should be able to do your taxes without any extra help. There should be Schedule C and yes they will walk you through it.
When hubby was a truck driver, there was a secion in there to help us do his taxes which are a bit different than the regular one.
Also if you have a lot of medical expenses you will be able to list them and get the deduction.
Good luck to you.
The other S.
PS I have used this program for over 15 years.
Love Turbo tax...used it for 10 years myself...and my parents used it for years before that for their self-employeed business.
Yes! I've used Turbo Tax the last 2 years and it included complicated deductions for my husband's carpentry business as well as mortgage interest, child care and medical deductions, etc. Couldn't be easier! Just be sure you get the correct edition that includes Schedule C. Happy tax time!:-)
Only one cautionary note. If you have been doing your own taxes the old fashioned way (filling out the forms), you'll have to suspend your knowledge of the forms. The program asks you questions that are not in the same order and asks you the same question more than once (to be sure you like what you put down.) Initially this caused me to question wha the heck it was doing. I think if I had never done taxes myself, it would have been much easier to follow their lead. Good luck!
I have a Mary Kay business, and I've done our own taxes 3 years in a row. SO easy, and SO MUCH cheaper!!!!! I use the online option even!
