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On top of that, TurboTax has a massive searchable database of both help articles and user-submitted tax questions that I refer to constantly while doing my taxes. The wait to talk to a real person was brief, and the person I spoke with was extremely helpful. That experience solidified my choice to stick with TurboTax.

#Turbotax self employed cost how to#

Even though I'd only upgraded once and was using the Deluxe edition for $40, (a must if you're reporting 1099 income from freelance work), I was able to get a live person on the phone to walk me through where to find the form and how to file it through TurboTax. The first time I had to file the Foreign Earned Income form, I couldn't find the form or figure out how to file it.

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Even those using the free edition get tech support via chat or phone.

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While all tax programs provide live help if you upgrade to the right edition, TurboTax provides excellent, live, on-screen support for all users.

Speaking of more obscure tax needs, there's one feature that clearly sets TurboTax apart from the pack for me: customer support. The feature I love most about TurboTax is its customer support Inputting my 1099 income as a freelancer is a breeze with TurboTax's Self-Employed plan, and it was also easy for me to jump to some of my more unique tax needs like the Foreign Earned Income worksheet. TurboTax is intuitive and easy to skip through sections that are irrelevant. I probably could have figured it out with a little extra time, but as a freelancer, I try to minimize the time and energy I spend on non-income generating tasks. When I briefly navigated through TaxAct, I found the interface to be cluttered and confusing.

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TurboTax has the most user-friendly interface of any tax software I've used, although H&R Block is a close second. So in the end, a spendier tax program that saves me an hour or two on taxes is actually cheaper.

The faster I can do my taxes, the more time I have to spend working. That being said, price isn't the only factor worth considering, especially when price differences are so minuscule.Ĭonvenience and ease are extremely important to me. TurboTax and H&R Block are priced similarly, although in most situations, filing with H&R Block's software can save you a few dollars. Enter these costs under Rental Assets/Depreciation as 'improvements.TurboTax is the easiest, most user-friendly tax software If you have Rental Property (passive business) start up costs must be capitalized, subject to depreciation. Enter these costs under Rental Assets/Depreciation as 'improvements.' See Under Assets/Depreciation as a capital asset for amortization (TurboTax You have more than $5000 in start-up costs, the remainder is entered Continue past the expense categories (or choose Other Miscellaneous Expenses) to the page titled ' Enter Business Expenses Not Yet Reported' and enter the description & amount (see screenshots below - click to enlarge). Any remaining costs must be amortized.'As long as your start-up expenses are less than $5000, you can add them as Business Expenses. The $5,000ĭeduction is reduced by the amount your total start-up or organizational costsĮxceed $50,000. Organizational costs paid or incurred after October 22, 2004. You can elect to deduct up to $5,000 of business start-up and $5,000 of Start-up and organizational costs are generally capital expenditures. Start-Up and Organizational Costs: ' Business For active business activities, these costs are entered either under Assets/Depreciation or under Business Expenses depending. Start-Up Expenses are reported in aggregate - one amount equal to the total of all expenses incurred.