TurboTax Business 2007

List Price: $99.95 Discount Price: $29.95

Features:

• Includes everything you need to maximize your business income taxes
• Expanded interview guides you step-by-step through your return to help maximize business expenses, vehicle deductions, depreciation and more
• Creates W-2 and 1099-MISC forms for your employees and contractors
• Shows you your maximum depreciation method
• Includes over 60 categories of business deductions

Customer Reviews:

Cheaper than a CPA [Posted on 2008-04-07]
Last year, I paid a CPA almost $400.00 to do my small business taxes for an LLC. Everyone told me that was a "good price." It was the first year with the business and I figured I couldn't do the taxes on my own. This year, after reading some reviews by other consumers, I decided to go with TurboTax for the business. I had used it in the past for my personal taxes with great success. I found a few glitches, but for less than $100.00, my taxes are already done and in the mail. Hopefully, I won't be audited...but so far so good. Even if you can't understand the government's instructions, you are likely to easily understand Turbotax's instructions and THEY DO THE MATH. I highly recommend Turbotax.

Rip-Off [Posted on 2008-04-20]
I wish I had paid more attention to the guy who said that the sofware would not import. I struggled hours trying to import. The software seemed to indicate I could import, like TurboTax Delux. The software sent me in circles, sending me back to the same pages for answers. The Customer Support took three days, so I had to file an extension to IRS.

Even if I could have imported, the software is not very user friendly. I will attempt to get a refund, but it is hard to contact them on that issue -- easy to order software (I ordered it online, to save time), easy to send e-mails to ask a question, easy to order help at $39 a call, not easy to get refunds.

Again, don't bother with this software. But I don't know an alternative other than an accountant. Maybe some day they will improve the software.

Worked okay for a complex trust (Form 1041) [Posted on 2008-04-21]
I was a little cautious about using TurboTax for what I bought it for. On their website, I looked to see what they offered for doing taxes on a trust and this is what it told me to buy. Given that all of the advertising was for small businesses, I wondered if this would really do the trick.
So far, so good. I haven't heard back from the IRS and the tax that the program calculated was consistent with what I've paid in past years. For the last three years, I've used a CPA who has charged $400-$500 to prepare the return for a trust. This year, it was me, turbotax, and about four hours on a Saturday. There were one or two places where I didn't really understand how I was supposed to account for something and I doubt that I would have been able to do this solely with the software. It was very useful to have a few years of past returns to see how/why certain things had been done in the past. If you have some familiarity with the tax law and some idea what you're doing, I would strongly recommend the product (I plan on doing the same thing next year). However, if you're not terribly comfortable with taxes and have a trust with anything more than the basics, the user-friendliness of this product isn't quite up to the level as some of Turbotax's offerings for personal returns.

WhiteMt [Posted on 2008-04-29]
Turbo Tax products are very user friendly and believe accurate. Would apprecaite their including Sub-Charpter S Corp in with Home Business Software as the purpose of Sub-S are the same as LLC.

Have used Turbo Tax off and on for many years. Tried others but never the same or user friendly as Turbo Tax. Best Tax Software on the Market.

TurboTax-Business Rocks [Posted on 2008-05-02]
As a tax preparer, I often use this product to generate one of the many types of K-1 necessary for clients. It is fairly easy to use.

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