Where do I even start? This is my first time filng business taxes. I have a small business and I'm lost with respect to balance sheets.

If you have a tax related question we will try to help. If related to the conduct of your business you might want to consult a bookkeeping professional. 

What kind of business entity did you set up?  Are you a LLC or Corp or Partnership?   Are you trying to fill out a business tax return?  Like a 1120, 1120-S or 1065?   The first year you should go to a local accountant or tax place to see what you need to do and get it setup right.   

Or are you just a sole proprietor or self employed or a Single Member LLC that is not a S Corp?   Then you file it on Schedule C in your personal tax return and don’t need to do a balance sheet.  Did you buy the separate Turbo Tax Business program?