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Turbotax home and business vs self employed10/11/2023 ![]() For those who have a little bit of experience with their own profit and loss over many years, and a general familiarity with tax rules, the program is a good solution to quickly breeze through putting together a filing. The program delivers fairly effortless preparation in its online program. On the other hand, TaxAct's online offerings are cheaper than similar offerings such as TurboTax, at $64.95 for the Self Employed version, excluding the cost of state filings. TaxAct's handling of small business problems is comparable to TurbTax, though some of the explanations, and some of the hand-holding is not as rich. Self Employed version at $89 is the most expensive of the packages.Features such as uploading tax documents can be hard to locate.Most extensive platform support for downloads.Most extensive handholding to smooth your way through income and expense itemization.TurboTax has the broadest platform support among software, with downloads available for Windows 7 through 10, Mac "Mavericks" through "Big Sur," iOS, Android, and Chromebooks. The company emphasizes that this can be an advantage for preparing quarterly taxes, as you can draw upon these individuals on an on-demand basis, year-round. TurboTax also comes with a live service that will connect you with a human tax expert. The software also pledges to make it "a breeze" to enter data on the money you've earned from Uber or Lyft ride-sharing jobs. You can snap a picture of your 1099-NEC with your phone and have it automatically uploaded to the software. Intuit emphasizes the fact that it is ready for the new 1099-NEC form, the form you either use to pay your sub-contractors or the form you receive as a contractor from your client. TurboTax boasts functions for industry-specific deductions, such as for real estate, construction, or even ride-sharing. ![]() In addition, home business expenses, health coverage, and small employer pension forms are included. The package is $89 for your federal filing and $39 for each state, if you choose to use it for state taxes.Īs with most offers, you can start working on Self Employed for free you only pay once you're ready to file.Īmong the primary differentiators for Self Employed is the inclusion of support for Schedule C/C-EZ, the main form for profit and loss from a business. Perhaps the most recognizable name in tax software, TurboTax, owned by Intuit, proposes the Self Employed version for both those who are actually self-employed and for those who run a small business. If you see inaccuracies in our content, please report the mistake via this form. If we have made an error or published misleading information, we will correct or clarify the article. Our editors thoroughly review and fact-check every article to ensure that our content meets the highest standards. Our goal is to deliver the most accurate information and the most knowledgeable advice possible in order to help you make smarter buying decisions on tech gear and a wide array of products and services. ZDNET's editorial team writes on behalf of you, our reader. Indeed, we follow strict guidelines that ensure our editorial content is never influenced by advertisers. Neither ZDNET nor the author are compensated for these independent reviews. This helps support our work, but does not affect what we cover or how, and it does not affect the price you pay. ![]() When you click through from our site to a retailer and buy a product or service, we may earn affiliate commissions. And we pore over customer reviews to find out what matters to real people who already own and use the products and services we’re assessing. ![]() We gather data from the best available sources, including vendor and retailer listings as well as other relevant and independent reviews sites. ZDNET's recommendations are based on many hours of testing, research, and comparison shopping.
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