MySoftwareOutlet: Software: TurboTax Business 2007 [OLD VERSION]

Location: Home » Software » Personal Finance » TurboTax Business 2007 [OLD VERSION]

November 22, 2008

Related Categories

•	Personal Finance

Similar Items:

•	TurboTax Deluxe Federal + State 2007 [OLD VERSION]
•	TurboTax Home & Business Federal + State 2007 [OLD VERSION]
•	TurboTax Premier Federal + State 2007 [OLD VERSION]
•	QuickBooks Pro 2008 [OLD VERSION]
•	TurboTax Business 2006 Corporations and Partnerships [OLDER VERSION]

Editorial Reviews:

Product Description
TurboTax Business 2007 can help simplify the complex process of filing your business taxes. It guides you through your return step-by-step so you can quickly file your taxes and receive an even faster refund. Youwon't have to struggle with confusing tax laws or directions-- Business 2007 does it all for you by asking easy-to-understand questions in plain English and then placing your answers onto IRS-approved forms. To ensure complete accuracy, it then double-checks your return for errors and even flags potential audit risks.If your business is a corporation or partnership/LLC, and earns up to 250,000 dollars a year, TurboTax Business is ideal for preparing and filing your business income taxes. This easy-to-use software prepares Forms 1120S ("S" corporations), 1065 (partnerships/LLCs) and 1120 ("C" corporations) while also working for estates and trusts. Import options make it a snap to retrieve and access the data you need from other business programs like Quickbooks Two-tier format shows you high-level tax topics and the specifics that relate to each topic

Amazon.com
TurboTax Business 2007 helps your business finish all the necessary federal forms, including the 1120S ("S" corporations), 1065 (partnerships/LLCs) and 1120 ("C" corporations). You can also prepare your K1, W-2, and 1099 for your employees, as well as find over 60 categories for deductions to help get your maximum refund. File as many forms as you need, there's no limit. And with a 100% accuracy guarantee and specialized help should your business be audited, TurboTax Business 2007 has you covered.

Get More Out of Your Investments
Whether you own stocks, bonds, mutual funds, rental property, or all of the above, TurboTax Business helps you get your maximum refund - guaranteed.

Get Your Maximum Refund - Guaranteed

Answer Easy Questions
TurboTax Business asks easy questions based on your business profile. Then we put your answers on the right forms for you.

Maximize Your Deductions
From Web sites and sponsorships to staples and coffee, TurboTax Business helps you qualify for more than 60 categories of deductions.

Reduce Your Risk of Audit
TurboTax Business checks your return for errors and shows you how to reduce your risk of audit.

IMPROVED! Enter Your Business Income
All your sources of business income are now more easily entered and tracked.

Quickly Enter Business Expenses
Detailed records or not, TurboTax Business makes reporting expenses easy. We'll guide you with customized questions. Or you can enter your expenses on one screen, line by line.

INCLUDED. Easily Prepare K1, W-2, and 1099 Forms
TurboTax Business helps you prepare unlimited forms for partners, employees and contractors. We do the math, so it's 100% accurate - guaranteed.

Prepare taxes for one or multiple business - there's no limit.

Import from Quicken�, QuickBooks�, and Microsoft Money�
TurboTax Business imports information from your financial software, so you can skip the cut and paste this year.

Maximize Your Deductions

Get More from Your Cars
Offset your gas costs. We'll automatically use the reporting method - actual expenses or standard mileage - that gets your business the deduction it deserves.

Maximize Your Equipment Deduction
Should you deduct equipment in one swoop or claim depreciation? When the IRS allows both, we use the approach that's most valuable to your business.

Discover Your Most Profitable Depreciation Method
TurboTax Business walks you through reporting depreciation of business assets. We even show which depreciation method will get you the biggest deduction.

View Deductions by Industry
Know what your competition deducts? TurboTax Business lists tax write-offs by industry so you don't miss out on money you're entitled to.

Reduce Your Risk of Audit

TurboTax Business double-checks your return for accuracy and completeness and helps you fix any errors before the IRS spots them. We arm you with proof for your claims and help protect you from IRS penalties.

NEW - Easily Handle an IRS Audit
Should the IRS contact you, TurboTax will explain your risk (or lack thereof) and show you how best to respond.

Accurate Calculations
We do the math and put 100% accurate figures on your tax forms - guaranteed.

Customer Reviews: Read 24 more reviews...

5 out of 5 stars

TurboTax-Business Rocks May 2, 2008
As a tax preparer, I often use this product to generate one of the many types of K-1 necessary for clients. It is fairly easy to use.

5 out of 5 stars

WhiteMt April 29, 2008
Turbo Tax products are very user friendly and believe accurate. Would apprecaite their including Sub-Charpter S Corp in with Home Business Software as the purpose of Sub-S are the same as LLC.

Have used Turbo Tax off and on for many years. Tried others but never the same or user friendly as Turbo Tax. Best Tax Software on the Market.

4 out of 5 stars

Worked okay for a complex trust (Form 1041) April 21, 2008
I was a little cautious about using TurboTax for what I bought it for. On their website, I looked to see what they offered for doing taxes on a trust and this is what it told me to buy. Given that all of the advertising was for small businesses, I wondered if this would really do the trick.
So far, so good. I haven't heard back from the IRS and the tax that the program calculated was consistent with what I've paid in past years. For the last three years, I've used a CPA who has charged $400-$500 to prepare the return for a trust. This year, it was me, turbotax, and about four hours on a Saturday. There were one or two places where I didn't really understand how I was supposed to account for something and I doubt that I would have been able to do this solely with the software. It was very useful to have a few years of past returns to see how/why certain things had been done in the past. If you have some familiarity with the tax law and some idea what you're doing, I would strongly recommend the product (I plan on doing the same thing next year). However, if you're not terribly comfortable with taxes and have a trust with anything more than the basics, the user-friendliness of this product isn't quite up to the level as some of Turbotax's offerings for personal returns.

1 out of 5 stars

Rip-Off April 20, 2008
I wish I had paid more attention to the guy who said that the sofware would not import. I struggled hours trying to import. The software seemed to indicate I could import, like TurboTax Delux. The software sent me in circles, sending me back to the same pages for answers. The Customer Support took three days, so I had to file an extension to IRS.

Even if I could have imported, the software is not very user friendly. I will attempt to get a refund, but it is hard to contact them on that issue -- easy to order software (I ordered it online, to save time), easy to send e-mails to ask a question, easy to order help at $39 a call, not easy to get refunds.

Again, don't bother with this software. But I don't know an alternative other than an accountant. Maybe some day they will improve the software.

4 out of 5 stars

Cheaper than a CPA April 7, 2008
Last year, I paid a CPA almost $400.00 to do my small business taxes for an LLC. Everyone told me that was a "good price." It was the first year with the business and I figured I couldn't do the taxes on my own. This year, after reading some reviews by other consumers, I decided to go with TurboTax for the business. I had used it in the past for my personal taxes with great success. I found a few glitches, but for less than $100.00, my taxes are already done and in the mail. Hopefully, I won't be audited...but so far so good. Even if you can't understand the government's instructions, you are likely to easily understand Turbotax's instructions and THEY DO THE MATH. I highly recommend Turbotax.