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- #HOW DO YOU PAY FOR TURBOTAX 2016 ONLINE HOW TO#
- #HOW DO YOU PAY FOR TURBOTAX 2016 ONLINE SOFTWARE#
- #HOW DO YOU PAY FOR TURBOTAX 2016 ONLINE PC#
If you file a DBA with your state, you should enter your business as a different name. When you’re self-employed your self-employed income and expenses are recorded on a Schedule C with your personal return, so this keeps things simple you cannot file your business separately from your personal taxes. *Related: WSJ $99 Subscription Offer! Your Self-Employed Income is Filed on a Schedule C
#HOW DO YOU PAY FOR TURBOTAX 2016 ONLINE SOFTWARE#
If you do have a multi-member LLC or another type of business be sure to check out my other videos for multi-member LLC, partnership, S corp where I go through other tax software including turbo tax their Business Edition which is for separate entity returns. You get this the limited liability for legality purposes and you can treat your business like an actual separate business, (you have two for the LLC to exist) but, when it comes to taxes, things are much easier for you. But, you also may have single-member LLC, and that’s why a single-member LLC is what I recommend doing for your business. Whenever you’re paid for work you do, you have to file a self-employed business, if you’re not paid as an employee. Remember, this applies if you just started a business and people paid you for work you do. *See all TurboTax coupons here! Whenever You’re Paid for the Work You Do, You Have to File a Self-Employed Business
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Do you have any income and expenses for your business? Right here business income and expenses click update. You may be answering “no” to a lot of questions, but you kind of have to do that anyway, so it may or may not save you time. However, if you’re a bit nervous about taxes, doing the walk-through of everything is probably the best way to go. Now, you can use all of this software through a “ walk me through everything,” and the software will ask you questions it’s called the interview format, but I prefer to choose what I work on and then go through everything. So, the first step is to click this business tab and then click continue. Of course with a Mac, I have these options up here, whereas you actually have them in the software on a PC, but it’s the same thing.
#HOW DO YOU PAY FOR TURBOTAX 2016 ONLINE PC#
There is no difference between the Mac and PC software other than how it looks, but you have the same options. Their Self-Employed is the online edition. Now home and business is their desktop addition. I’m in the Mac version for TurboTax Home and Business. It’s important to note that none of these features are available in the Free Edition, so if you are self-employed, you’re going to have to pay for TurboTax Home& Business or Self Employed! Let’s talk about setting up your self-employed business in TurboTax.
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Setting Up Your Self-Employed Business In TurboTax
#HOW DO YOU PAY FOR TURBOTAX 2016 ONLINE HOW TO#
How to set up your self-employed business in TurboTax: in this video we’ll be showing you how to set up your self-employed business taxes in TurboTax.