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January 11, 2024
Question

Can Turbo Tax help me with my new, small business taxes?

  • January 11, 2024
  • 1 reply
  • 0 views
My husband and I use TurboTax for our personal taxes. This year, he left his job and started his own company. It is in both of our names. Does Turbo Tax have the tools to help me file state and federal taxes for our small business?

1 reply

rjs
Employee
January 11, 2024

The basic answer to your question is Yes, TurboTax has the tools that you need. But which specific TurboTax product, or products, you need depends on what type of organization your new business is, and whether you are in a community property state. You said the business "is in both of our names." Is it a qualified joint venture, a partnership, a multi-member LLC, an S corp, or a C corp? If it's a multi-member LLC or a partnership are there any other members or partners besides you and your husband?