Friday, June 30, 2006
Guiding Light - TurboTax programs for home and business - Software Review
TurboTax gets down to business.
Taxes are never fun, but they can Jibe easy. And it doesn't get any easier than TurboTax. The market-leading software from Intuit (www.quicken.com) has two business versions: TurboTax Home & Business for sole proprietors and TurboTax for Business for corporations and partnerships.
Both versions offer the simple, clean interface that has become a TurboTax trademark, and both lead you through the tax-preparation process step by step. Home & Business costs $64.95 (street), and TurboTax for Business is $79.95 (street).
Home & Business begins with optional videos and written instructions to explain the process and offers the ability to consult with live experts (an additional fee may be required). Then you're ready to fill out your Schedule C. Throughout the process, TurboTax reminds you what information and forms you need and offers more optional but helpful videos.
New to Home & Business is the Automated Tax Return feature, which imports basic tax information into the correct forms, making the process even easier. It also features the Home Office Expert, which offers advice on deductions and filing for home-office proprietors. Home & Business also allows employers to prepare and print forms W-2 and 1099-MISC for employees and contractors.
TurboTax for Business is aimed at larger businesses, specifically corporations (1120), fiduciaries (1041), LLCs, partnerships (1065) and S-corporations (1120-S). In addition to providing forms 1099 and W-2 for employees, this version includes form 1041 for Trusts and Estates.
Including several articles and videos for guidance, TurboTax for Business is much like Home and Business. Both versions provide you with both the Depreciation Expert and the "Tax Savvy for Small Business" tax guide.
If there's anything wrong with TurboTax, it could be that the software provides too much guidance. With videos, articles and offers of help at every turn, both versions hold your hand very tightly.
Liane Gouthro, a former technology reporter at PCWorld.com freelances from her home in Brookline, Massacbusetts.
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