Rated 2 out of 5 by 24monty poor instructions
If you got to test this product prior to purchase, I would not never have purchased it. If this had been the beginning year of the S corp., it probably would have been smoother but for an existing entity that needs to enter prior years data, this was horrible. I found the instruction extremely lacking in many areas. To me it was though this was written for someone who does tax returns repetitively, not the person that does this once per year.
March 15, 2015
Rated 2 out of 5 by CTMM Disappointing
When I first starting using Turbo Tax in conjunction with QuickBooks years ago, it was amazing. The import feature worked well and the interviews were quite straight forward and intuitive. The last two years have been very disappointing in both of those areas. Import is so far removed from working I should have just skipped it right from the beginning because it didn't remove everything when I changed my mind. Made a mess of things for a while.
March 16, 2015
Rated 4 out of 5 by Gene33 Turbo Tax Business
Overall, I found Turbo Tax for business easy to use. However, I was using it for a small business, that just started last year. I will definitely try it again next year. However, as my business grows I may have some concerns using this program, depending on how large the company grows within the next couple of years; it might become too complicated, the larger I get. I will have to wait and see if this product will be as easy to use at that time.
February 15, 2015
Rated 4 out of 5 by RobertMcSwain great program, but needs improvement
The program would be perfect except for the inability to directly input QB online.
Also our personal return was rated as low risk of audit and we received a notice from NY saying, not that we were being audited, but our state return had been flagged for further review. The federal return went smoothly. This could likely be NY because we have never gotten that much of out taxes back and NY is super tightfisted while they have a hand in your pocket.
March 20, 2015
Rated 4 out of 5
by TinaFromChicago Biz Federal Return Good. State is awkward
Completing the Biz federal return was easy. The state return was cumbersome. It does not automatically take you thru the review process if you have already completed/filed your federal. When I manually figured out how to get the review done, Turbo Tax just presented me with items I should review. So basically I needed to know what I was looking at, and if it was correct. I didn't think I was required to look at the law so closely while using this product.
March 23, 2015
Rated 4 out of 5 by RPaulH Print what you send to IRS
It said it would print what was sent to IRS but then printed 8453S without signature.
Also printed K1 with instructions out of order, and included instructions with what was sent to IRS.
I hope this did not go to IRS, and HOPE 8453S was signed.
Also: You ask for labor cost in cost of goods sold, and then also as payroll and officer compensation. I am officer and also work on producing goods sold. You are not clear that my pay should only be entered once.
March 11, 2015
Rated 3 out of 5 by AndrewFrits Federal Returns Did Well, State Returns Did Not
The Federal Software was very well done, creating an easy, straightforward experience.
State Software (esp AZ) was not near as polished. It asked long, confusing questions, essentially telling me i need to read State Tax Law before using TurboTax. Seeing the questions TurboTax asked for State, with so little explanation, i felt like i needed to consult a tax professional.
Integration with state software is also poor. It was easy to eFile Federal, but when i got to the page that said, "Print additional required Forms", the state forms did not show up. in fact, no where in the Step-by-Step instructions was there a place to print and mail in the state return.
I was very dissapointed in the State Return Software.
March 28, 2015
Rated 4 out of 5 by Lbanas Good for S Corp returns
I have been using turbo tax for many years to do my business return. It is easy enough to use but I have learned over the years that I have to go into the forms section to correct items that may have caused an error in the numbers. I cannot figure out how to correct them through the interview but I do know that the answer I am getting is wrong so I have to work around that each time. Other than that, the product is easy to use, and saves me time on filing.
March 8, 2015
Rated 4 out of 5 by RichinCT 2014 Business
Wanted to feel more certain the loss from capital equipment would be available in future years. Found how this was handled confusing.
While link with TurboTax was helpful, the way it handled supply expenses was confusing. No logical place to put computer supplies or very small equipment, some of which are expendible. except under office supplies, reference material. Spent time recatagorising things - Then in TurboTax, it grouped them all together as supplies.
March 15, 2015
Rated 3 out of 5 by jokago free edition no so free
was VERY disappointed with your free edition this year. It wasn't so "free" for me, i had a small amount of self employment income & it cost me $127.63 to complete my federal & state compared to zero cost last year! and they don't tell you this until you are way into the program... :(
I am way below poverty and raising 3 kids, really depend on every dollar... next year i will have to find a different program to use that does not charge me hundreds of dollars.....
February 17, 2015
Rated 5 out of 5 by KHWR Got it Done!
For my first time doing business taxes it was interesting to say the least and i learned quite a bit in the process. Thank god for Turbotax. the Company is to small for me to afford a tax person so I had to do this myself and it wasn't as painful as I though it was going to be. Don't get me wrong it did take me all day but it was my first time doing it. I'll be better prepared next time and Turbotax will be right there with me that's for sure. It was very helpful.
February 20, 2015
Rated 3 out of 5 by Blring Got it done
There are a couple places that the program did not work correctly for a farm. In particular when I was adding assets it would not let me depreciate using 150% DB in the step by step mode, after spending a couple hours on the phone I found out I had to switch to forms mode. I also have a very difficult time getting the M1 and M2 schedules on form 1120S to balance and usually end up having to fudge a number to get it to work. There is very little guidance in this area.
March 15, 2015
Rated 4 out of 5 by Victor82 Definitely Gets Easier Over Time
This is my 5th year utilizing the Business version for my S Corp. The TurboTax preparation exercise really gives me a solid handle on my business financials as I don't come from an Accounting background. I had to quickly learn a lot of the terminology and its relevance to my particular business situation. I do consult with professionals on an as needed basis. But it is best to contain costs as much as possible in this economy. Turbo Tax does allow me to do just that.
March 13, 2015
Rated 4 out of 5 by tsmith4242 Good but frustrating e-file
Have used Turbo Tax Business to prepare a C Corp and S Corp return for the past 4 years. The program is easy to use and works very well. However, it's gotten frustrating that it takes so long to be able to finalize some state forms and to be able to e-file returns. I've had corporate returns for NYS that are due 3/15 and 3/9 was the first time I was able to finally e-file them with the software. I really hope this was a one time problem as that is pretty unacceptable.
March 9, 2015
Rated 3 out of 5 by DanoElMano it worked well enough, yet surprisingly rough
There were errors, which was surprising, since Intuit has been making this software for years. For example, it didn't transfer the correct amortization amount from the worksheet. I'm glad I caught it, and could go back and correct it.
Also, more than once, it referenced a form I would need yet that page had no information available about the form. Surprisingly, I didn't end up needed the form it thought I did.
Still, TurboTax is better than the HR Block disaster I tried last year.
March 16, 2015
Rated 1 out of 5 by coinoperated Lot's of Bugs
User interface has some annoying problems filing in the forms. For example date entry instruction indicate MM/DD/YY yet the system only takes MM-DD-YY. In another location address fields would not populate the form correctly causing errors when the forms were saved and reopened. Support for simple trust closing submission results in a cyclic error reporting. Electronic submission would not accept trusts 'Special Name Control Code' provided by IRS #after setting on hold for 30 minutes#.
February 18, 2015
Rated 5 out of 5 by coog Good Product
I have used both Business Turbo Tax and Basic Tax for about 10 years. When I first started using Basic it cost about $20. Business as I recall cost in the $40-$50 range. I found out that I needed to use a Schedule C this year and would have to upgrade to Personal & Small business at a cost of $89. Cost had also increased on the Corporation to about $130.00. Product is good and I do not have complaints. I plan to continue using Turbo Tax but I am unhappy with the excessive cost increases.
February 23, 2015
Rated 4 out of 5 by RIch367 2014 LLC Filing
Overall the software works well. I kept receiving a message that the Form 1065 Instructions for 2014 were not available, yet I located them on online, so I ignored the message.
The software never told me I could not do an efile for NJ, until I tried to efile.
I hate the fact that I buy the software and then once I get into filing I have to then buy the state. The original package you buy should clearly say that depending on your state an additional purchase may be require during filing.
February 21, 2015
Rated 5 out of 5 by woollysman AMAZING
Overall, Turbo Tax Business and Quickbooks, Personal Tax Programs etc...all make this horrifying job of doing Corporate taxes, K1's, 1065's etc. more manageable.
You can feel confident that when all the numbers come into balance that all mistakes have been accounted for.
The best part is in the second year and then on when using the same product...the upload process of previous years tax returns make the entry of the current year so much easier...not to mention FASTER.
Thanks Turbo Tax
February 23, 2015
Rated 3 out of 5 by MsTrial Beware states that don't allow corporate efile
I am attorney. Attorneys live for deadlines. So, I naturally calculated that I could wait for March 16th (Monday) to finish and file my S Corp federal and Arizona state taxes. Imagine my surprise to get to the finish line around 7:30 pm only to be advised that Arizona corporate taxes cannot be filed on line. This would have been nice to know as I was downloading the software last week. So, due to the lack of warning, I will have to mail my return in late tomorrow and suffer the consequences.
March 16, 2015
Rated 2 out of 5 by MNbusinesswoman Very Disappointed
I filed Fed'l form 1120S and 3 State S Returns (MN, IA, WI). I was disappointed with how much searching I had to do to find where items when in the returns. The state filings would have been easier to prepare manually! I haven't decided if I will use TT again next year. I have a lot of depreciation data that will transfer to next year; so I may be "stuck" with using this poorly written program unless I decide to go through all of the work of entering several hundred assets into a new program.
March 10, 2015
Rated 3 out of 5 by ClassicRods 1065 Federal And State
I have used TurboTax Business for the past 4 years preparing our multi member LLC 1065 return. Creating the return is super easy and I love the interface to QuickBooks. Makes the tedious task of completing the return easy. The only negative this year is the inability to eFile the VA 502. 2014 is the first year that VA requires PTEs to eFile. It was very disappointing to find out after paying $49.00 for the state forms that it would be of no use to me. Otherwise I would recommend TurboTax Business.
February 22, 2015
Rated 1 out of 5 by MassUser State Tax Programs are Incomplete
the Kentucky program asks if you are a qualified pass-through entity. Good Question! Would be even better if the program actually used the answer and used the correct form if you are a Qualified Pass Through.
It uses the same forms no matter what you say so you have to manually manipulate the forms to mark them correctly.
Also need I say how IRRITATING this constant request for a survey is - no matter how many times you look at your return Turbo Tax wants a Survey - well here it is - STOP already!
February 24, 2015
Rated 1 out of 5 by dazedinbend Never again
Quick Books 'had been listening to you', but obviously not 'me' and did a thorough update just before I started business taxes losing or misplacing all of the information I needed for taxes.
Wonderful. I reconstructed - by hand - all the information since Turbo Tax could not 'connect' with Quick Books to get any statistics....I am now considering throwing the PC on the road and running over it several times. Thank goodness the business was over in December and I will never have to go through this again!
February 18, 2015
Rated 3 out of 5 by TerryFromMesa OK, Probably the best
Since QuickBooks and TurboTax are both Intuit products, I would expect some guidance on how to set up QuickBooks for minimum effort at tax time. Help with accounts versus the IRS forms they lead to. Help with how to handle capital purchases for no hassle regarding depreciation vs Section 179 items.
Although this may be the best software program out there, it is too easy to get into problems at tax time filling out the returns. Should be easier for a small business without incurring the expense of an accountant.
February 14, 2015
Rated 2 out of 5 by lahn Terrible Online Experience
I tried to prepare my 1099s online to send to vendors by Jan 31. The system did not work! It was very frustrating. I had to do it manually.
Then I entered all of the 1099s into the Desktop version. I printed all of the forms and was ready to file by mail. However, I went back into the Online version to check it, and it is now working.
Because I wanted to efile, I once again re-entered all of my 1099 information. I had to reconcile what I entered back to what I mailed. This process has cost me HOURS of my life!
February 27, 2015
Rated 4 out of 5 by HiPAS Your Checklist for Preparing Your Income Tax Return is helpful but what would be much more valuable would be detailed checklists for organizing information into categories in an order that corresponds to the order of input. ie Business Income, Investment Income, Disposal of Business Property, etc. These forms should be up front, easily accessed, and printable.
Worksheets for all entries should be printable just as they appear on the screen.
A glossary of terms used in preparation of your forms would be helpful.
February 23, 2015
Rated 4 out of 5 by GregJ350 Invaluable Tool
The vast majority of corporations are small and this tool helps you get a handle on your Federal and State tax returns. Their income and deduction rules can be confusing but with a little patience, TurboTax guides you through the process and provides resources to ask questions if you get stuck. You do need to have your company's books in order and have the ability to create financial statements. I have used TurboTax for several years and this year I have the fewest amount of problems filing my tax return. Best edition yet!
March 22, 2015
Rated 4 out of 5 by SmoketheDrone Good, but not Great
The is the first time I've used business turbo tax in many years. I'm very glad I fired my less than knowledgeable CPA and went back to software.
The only issue Turbo Tax needs to address is adding elections for e-file. For example, the De minimis Safe Harbor election should be something every small business owner needs to do EVERY year. Can I do it by mail? Sure, but it would be mighty nice to be able to use the efile feature included in the cost of the software. Some other tax software makers advertise they can do it...
March 6, 2015
Rated 2 out of 5 by GloriaJB Drillback to step by step Extremely Difficult
This year was particularly frustrating. With a small Sub S corporation installment sale, I just couldn't find the entry point where information on the forms originated in the step by step. Every time I made a change, I had to start at the very beginning, go through the questions again. Very, very frustrating. Sometimes I would delete forms to clear the information so that I could change the information slightly. One update completely destroyed the flow of information from asset disposition worksheets into the actual returns.
March 2, 2015