TurboTax business review
Get access to accounting integrations, payroll reporting and auditing support.TurboTax business makes it easy for business owners of all types to file taxes thanks to its user-friendly interface and helpful tax guides. But its robust features come at a cost. You’ll pay more for TurboTax than you would for other tax filing software solutions.
Federal returns starting price
State returns starting price
Cassidy Horton is a writer for Finder, specializing in banking and investments. She has a Bachelor of Science in Public Relations and a Master of Business Administration from Georgia Southern University. Cassidy enjoys educating people about financial services, exploring the Pacific Northwest and watching endless reruns of The Office.
You’ll find all the bells and whistles at TurboTax — auditing support, payroll and reporting features, software integrations and live access to tax experts.
But these dreamy features come at a cost. Although TurboTax is cheaper than filing with a tax preparer, it’s more expensive than other tax filing software companies. That’s why it’s best for small- and medium-sized businesses with complicated tax situations.
How much does TurboTax cost?
TurboTax has three options for business owners — each with varying features and support. One is an online platform and the other two are downloadable software.
|Plan and packages||Type||Price||Best for||Features|
|Self-Employed||Online software||$90 for federal$40 for state||Freelancers, contractors and small-business owners|
|Self-Employed Live||Online software||$170 for federal$50 for state||Freelancers, contractors and small-business owners who want real-time help from a tax expert||Everything in the Self-Employed plan, plus:|
|Home & Business||Downloadable software||$110 for federal|
$0 for first state; $40 for additional state
|TurboTax business||Downloadable software||$160 for federal$50 for state||Partnerships, S Corp, C Corp, multi-member LLC, trusts and estates|
How do I pay?
TurboTax gives you three ways to cover your filing fees:
- Debit or credit card
- Prepaid card
- Deducted from your federal refund
How do I get my tax refund?
When you file with TurboTax, you’ll have these refund options:
- Paper check
- Direct deposit
- US savings bond
- Apply your refund to next year’s taxes
How do I open a TurboTax business account?
Follow these steps to choose your plan and sign up:
- Go to the provider’s site and follow the steps to apply.
- From the TurboTax website, hover over the Products & pricing tab, then do one of the following:
a. Click Small business taxes if you’re a partnership, S Corp, C Corp, multi-member LLC, trust or estate.
b. Click File online if you’re self-employed and want to file online.
c. Click CD/Downloadable products if you’re self-employed and want the downloadable software.
- Follow the onscreen prompts to create your account and start filing your taxes.
What are the benefits of TurboTax?
TurboTax uses a question and answer-based system where it uses your responses to fill out your tax form for you. You can file on your phone using TurboTax’s mobile app, and enjoy these features:
- Integrations. Seamlessly import income and expenses for Quickbooks, Square, Uber, Lyft, ItsDeductible and more.
- Auditing support. TurboTax has an Audit Risk Meter, which checks your tax return for common audit triggers, shows you whether you’re low- or high-risk for getting audited and gives you tips on how to lower your chances.
- Access to live support. With the Self-Employed Live package, you’ll get access to on-demand support from a tax expert. And you can share your screen so they can see exactly what you see as you file your return.
- Payroll features. TurboTax lets business owners generate a host of payroll and reporting forms, such as W-2, 1099-MISC, 1099-INT, 1099-DIV and K-1 forms. This is on par with H&R Block’s payroll features, but it’s more than what you’ll get with TaxAct.
What should I watch out for?TurboTax business has a long list of perks, but there are a few drawbacks worth noting:
- Few plan options. There are two plan options for business owners who want to use an online software and two options for those who want a downloadable version — compared to rival H&R Block that gives you four ways to file online, plus downloadable software and in-person support.
- Expensive. Compared to H&R Block and TaxAct, TurboTax has the most expensive prices with packages starting out at $90, but it has the most robust features for maximizing deductions and minimizing filing mistakes.
- Downloadable software isn’t Mac-compatible. If you opt for a CD or downloadable version of TurboTax, it’ll only work on computers with Windows.
If you’re looking for a cheaper way to file taxes this year, explore other services until you find one that fits your needs and budget.
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TurboTax business reviews and complaints
TurboTax gets an A+ rating from the Better Business Bureau (BBB) based on factors like financial stability and years in business. On the peer-to-peer review site G2, the company has a 4.3 out of 5-star rating based on 73 customer reviews as of October 2020.
Customers love how much time TurboTax saves them. They can easily import information from QuickBooks, search for deductions and find answers to their questions in the support forum. Customers also enjoy the risk meter, which shows your likelihood of getting audited based on your return.
The only complaint we found is that it can get expensive. But several customers admit it’s still a lot cheaper than what they’d pay with a tax preparer.
TurboTax customer support
The level of support you get depends on which TurboTax business package you choose. But generally, these are all the ways to contact customer support:
- Call 800-446-8848
- Live chat on the website
- Community forum on the website
If you choose the Self-Employed Live package, you’ll get unlimited access to a tax expert.