Author Topic: Turbo Tax Premier vs Small biz  (Read 1300 times)

johnstein

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Turbo Tax Premier vs Small biz
« on: February 17, 2015, 01:57:32 PM »
I have been use TT to file my tax, my wife has her own business and requires a schedule C.  Since last year was the first year I need to do that, I suck it up and paid for the Turbo Tax Small biz edition.  After finished up the return, I looked at the forms and nothing jumps out as to why do i need to use the small biz edition.

Anyway, this year i bought the Premier edition and thought that I can fill in the schedule C myself, TT sort of throws a fit and wants me to do an upgrade to small business, is that necessary?




PhotonJohn

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Re: Turbo Tax Premier vs Small biz
« Reply #1 on: February 17, 2015, 02:29:19 PM »
I just did all my taxes with Turbo Tax premier online. It cost $80. My wife has an LLC as well. As long as you can file as a sole proprietor you should be fine. Last year we had it as a partnership which requires all the 1065 and schedule K stuff that is only in the Small Biz edition. I found it much simpler to use all the online stuff. BTW if you haven't used it already ItsDeductible is free and integrates seamlessly with TT online. It is a great way to track all your charitable time and donations. It really does add up. Good luck.

MDM

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Re: Turbo Tax Premier vs Small biz
« Reply #2 on: February 17, 2015, 04:32:34 PM »
Anyway, this year i bought the Premier edition and thought that I can fill in the schedule C myself, TT sort of throws a fit and wants me to do an upgrade to small business, is that necessary?
It's "necessary" because that is TurboTax's pricing model.

TaxAct is significantly less expensive, including schedule C.  TT seems a little more polished and helpful than TA, and TA has (I believe) a slightly more expensive (but still less than TT) version for the very detailed business stuff.  TA might be worth it for you....

Poorman

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Re: Turbo Tax Premier vs Small biz
« Reply #3 on: February 17, 2015, 07:00:54 PM »
TaxAct is much cheaper and I like the interface better too.