Then, you can contact them with your questions whenever needed—including on nights and weekends during tax season. In tax year 2023, TurboTax successfully processed 44 million U.S. tax returns and $107 billion in U.S. tax refunds on Intuit’s platform using the company’s Generative AI Operating System (GenOS). GenOS combines the power of Intuit’s rich data, custom trained financial large language models (LLMs), and proprietary tax knowledge engine with an extensible catalog of best-in-class LLMs to deliver highly personalized done-for-you experiences.

• If you had additional sources of income this year, find out if you need to file a Schedule 1 form.
• You’ll also find tax-saving credits like the Earned Income Tax Credit (EITC), and Child Tax Credit.
• Our tax experts are available 7 days a week from 5 AM to 9 PM PT from the January date the IRS starts accepting tax returns through the April filing deadline.From mid-April through early January, they’re available Monday-Friday from 5 AM through 5 PM PT.
• If you filed on paper, you’ll receive a postcard explaining your options for obtaining the forms.

Tax Forms—State Returns

You may see this option after starting with Live Full Service if it’s available in your area. Full Service Experts are members of the TurboTax Expert team who will file your taxes for you virtually.TurboTax Verified Pros are independent tax professionals who are vetted by TurboTax. They have their own business and may also offer different or additional services from those offered in TurboTax Full Service. Our software will allow you to securely upload your tax documents to our system. You can give permission through the software to share your tax documents with your tax expert.

If you’d rather have a small business tax expert prepare and file your taxes for you, TurboTax Full Service Business can be a great alternative to hiring a certified public accountant (CPA) or an enrolled agent (EA). The expert can help you maximize your business-specific tax deductions and credits and review your return before you submit it. You can also reach out with tax-related questions year-round with no appointment necessary, and at no additional cost. We use information about your tax situation to match you with an expert who has experience with taxes like yours. During the process, they’ll also learn more about your unique situation so they can make sure your taxes are 100% correct before filing.

With Live Full Service, we’ll start by asking you questions about your tax situation. This can be done online, or with the help of a live tax preparation assistant. We’ll use what you tell us to match you with a tax expert who understands your unique situation, has relevant expertise, and is local to your state (where available). We do our best to match you with the right expert based on the nature of your question.

What Day Are Taxes Due? April 15! How to File for a Tax Extension or Pay Taxes Online

For instance, if you’re self-employed, you must file a tax return if your net earnings from self-employment that year were $400 or more. On the other hand, if you own an S-Corp, you must always file taxes for your small business, even if it didn’t make any money. You can work with a small business tax expert to prepare and file your return (Live Assisted Business) or have the expert handle the entire process for you (Full Service Business). If you own a single-member LLC, you could also use TurboTax Premium (Online) or TurboTax Home & Business (Desktop). If you’re a sole proprietor or own a single-member LLC, TurboTax Premium might be the right solution for your tax needs. While it’s a personal tax filing product, it helps you report your business income and deductions via Schedule C, which gets attached to your return.

Before taking any action, you should always seek the assistance of a professional who knows your particular situation for advice on taxes, your investments, the law, or any other business and professional matters that affect you and/or your business. Mistakes can lead to processing delays, missed credits and deductions, and the loss of protection from TurboTax’s accuracy guarantee. Both Full Service Business and Live Assisted Business feature a Business Tax Guarantee.

Fortunately, Intuit shifted to the cloud in 2017, the same year that Ashok Srivastava arrived as senior vice president and chief data officer (he’s the source of the statistics above). The job doesn’t necessarily require a rocket scientist, but Srivastava is one anyway. Already, Intuit’s near-decade of deep expertise in AI-driven document understanding with TurboTax enables broad support for tax document import, upload, and photo capture, and auto-fill of a majority of tax returns, minimizing manual data entry.

Already, Intuit’s near-decade of deep expertise in AI-driven document understanding with TurboTax enables broad support for tax document import, upload, and photo capture, and auto-fill of a majority of tax returns, minimizing manual data entry. This tax year, by integrating Google Cloud Document AI technology and Gemini models in GenOS, Intuit has expanded support for complicated 1099 forms (1099-B, 1099-COMP, 1099-OID), and tax form1040 (plus Schedules 1, 2, 3, A, C, E), which can also vary in complexity. Final price is determined at the time of print or electronic filing and may vary based on your actual tax situation, forms used to prepare your return, and forms or schedules included in your individual return. Prices are subject to change without notice and may impact your final price. TurboTax software programs include the tax forms you’re likely to need to file your federal and state taxes.

Income and Expenses

TurboTax guarantees that your return’s calculations will be 100% accurate, ensures you will maximize your tax savings, and provides you with support if your return is audited. These days, filing your taxes is easier than ever, especially since you can meet with a TurboTax Live tax expert — but there are still documents to gather for tax prep. Independent contractors and others who receive income from sources other than an employer can expect to receive a 1099 instead of a W-2.

How to File Taxes for Free with TurboTax Mobile App Offer

This tax planner helps you know what docs you’ll need so you can gather them and start securely uploading them to your TurboTax account. If you’re a non-citizen with U.S. tax obligations and aren’t eligible for a Social Security number, you might. To do so, you’ll need a W-7 form, which is used to apply for an ITIN with the IRS.

How to File Taxes for Small Businesses: Filing Deductions, Credits, Loopholes and More

• While it’s a personal tax filing product, it helps you report your business income and deductions via Schedule C, which gets attached to your return.
• From mid-April through early January, our experts are available Monday-Friday from 5 AM through 5 PM PT.If you choose to work with an independent Intuit TurboTax Verified Pro, the Pro will share the hours they’re available directly with you.
• You can also reach out with tax-related questions year-round with no appointment necessary, and at no additional cost.
• A business tax extension is a request to the IRS to extend the deadline for filing your business tax return.
• We’ll use your location and information about your tax situation to match you with the right tax expert to handle your taxes.
• TurboTax software programs include the tax forms you’re likely to need to file your federal and state taxes.

A TurboTax product specialist can help you, and even draw on your screen to help you get your taxes done. Our team of US-based tax experts have extensive experience and internal training. They can handle all kinds of tax situations, from simple to complex; and are always up-to-date on all the latest tax laws, from crypto to side gigs and new government credits. We guarantee your taxes are done 100% right, getting you every dollar you deserve.When you connect live with an expert, you’ll see their specific credentials. The expert will complete and submit your business tax return using the tax documents you upload. They’ll keep you updated throughout the process, and you can contact them with questions or concerns anytime.

That would be TurboTax, which Tom has sometimes described as his favorite computer program. If you haven’t noticed, the U.S. tax code is rather byzantine, but TurboTax makes it bearable even for pretty complex tax returns. For example, investors in stocks, bonds, and crypto are benefiting from automated data extraction and autofill into tax returns from complicated 1099 forms. Eventually, for more complex tax situations, you may need additional documents like mortgage statements or other detailed financial information. We offer free one-on-one audit guidance year-round from our experienced and knowledgeable tax staff. Our software allows you to securely upload your tax documents to our system so they’re available to your tax expert.

Our Full Service welcome call is handled by a team of specialists who are here to answer your questions about the product, help you understand next steps, and aid you in gathering all of your documents before initiating your expert match. Yes, you may work with the same expert who prepared your tax return, when available. After starting in Live Full Service, we’ll ask you some questions to learn about your tax situation and create a personalized tax planner for you.

Unless otherwise stated, each offer is not available in combination with any other TurboTax offers. Certain discount offers may not be valid for mobile in-app purchases and turbo tax forms may be available only for a limited period of time. You can speak to an expert via phone, chat, or live on-screen through one-way video chat (they can’t see you). You can share your TurboTax screen with your expert so they can guide you and answer your questions. Similar to TurboTax Live Assisted Business, you’ll provide some details about your business to be matched with the right expert. If you did contract or freelance work for a company that paid you over $600, then you should receive a 1099-NEC from them in the mail or electronically.

As with Live Assisted Business, you’ll get on-demand tax support throughout the year at no additional charge. “Google Cloud’s partnership with Intuit showcases the power of AI to solve real-world problems by simplifying the tax preparation process for millions of TurboTax users this tax season,” said Thomas Kurian, CEO of Google Cloud. “With Document AI and Gemini models, TurboTax can extract, categorize, and accurately populate data from the most complex tax forms, making filing more efficient, less error-prone, and ultimately, more accessible for everyone.” Filing taxes as a small business owner can be a daunting task, but with the right guidance and resources, you can ensure that you are taking advantage of all the deductions and credits available to you. Remember to keep accurate records, stay up-to-date on tax laws and regulations, and seek professional help when needed.