Turbo Tax Online Self-Employed Review

turbo tax online self employed

Name: TURBO TAX ONLINE SELF-EMPLOYED
Website: https://turbotax.intuit.com/personal-taxes/self-employment-taxes/
Price: FREE – $179
Owners: TURBOTAX
Overall Rank: 98 out of 100

TURBOTAX ONLINE SELF-EMPLOYED, Product Overview

This is a TurboTax Online Self-Employed review. Read this article on how to file self-employed taxes for entrepreneurs.

Turbo Tax Online Self Employed is an online product. Formerly TurboTax Home & Business online.

That enables online entrepreneurs, independent contractors, consultants, freelancers, musicians, and other self-employed taxpayers.

To file Schedule C for their business, along with 1040 for their personal taxes. The software will ask you questions about your business.

You’ll enter your self-employment income. Including 1099-NEC, 1099-K credit/debit payments, cash, and checks; and your expenses. TurboTax Self-Employed helps you get every deduction you’re entitled to.

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The Good & The Bad

The Good: 

  • Perfect for independent contractors (1099-NEC) and small businesses
  • Every detail reviewed
  • 100% accurate calculations
  • One-on-one help, on-demand
  • Help from experts like CPA, EA
  • Uncover industry-specific deductions
  • See your refund in real-time
  • Get tax deductions for your dependents
  • See your refund in real-time
  • Free to start
  • Deduct Software cost from the Federal refund
  • Transfers data to State Track expenses in real-time
  • Track miles automatically
  • Automatic import of your W-2 info
  • Capture receipts in a snap
  • You can do it yourself

The Bad: 

Available online only (alternative for Desktop)

Still must pay for the cost of software

Who is TURBOTAX ONLINE SELF-EMPLOYED For?

TurboTax Online Self Employed is for those who are the owner of their own business. And want to file their taxes online.

It is for people who receive a 1099-NEC or a 1099-K from the person or business that paid them. Even if you don’t receive a 1099-NEC or a 1099-K.

You’re still responsible for reporting all your income. And expenses from self-employment on your tax return.

This includes any part-time business. Or private “side jobs” where you’re performing services.

In addition to a regular job or business. You are self-employed if you’re an individual who:

· Is the sole proprietor of an unincorporated business

· Works as an independent contractor, consultant, or freelancer

· Is a member of a business partnership

· Owns or is part of a limited liability company (LLC)

· Earns income through investments

· Earns income through rental property

· Have many sources of income You may not think of yourself as running a business.

But you’re considered self-employed if you engage in business-like activities.

Business activities include any activity where you:

· Intend to make a profit (even if you operate at a loss)

· Have regular transactions or production of income

· Make ongoing efforts to sustain, grow or further the interests of your business

TURBOTAX ONLINE SELF-EMPLOYED Tools & Features

turbo tax online self employed

TurboTax Online Self-Employed tools include:

  • Multi-factor authentication security TurboTax. Works hard to safeguard your information so you can file your taxes.
  • Save time by importing a PDF transfer of last year’s information to help ensure the accuracy of your return. You can import pdfs from other major tax prep companies too.
  • The system displays and updates your federal refunds or taxes due. As you do your income taxes, you always know where you stand.
  • They ask you easy questions about your year and fill in the right tax forms for you.
  • You can import your W-2 from over 1 million companies or snap a photo of your W-2.
  • Tracks expenses in real-time allowing you to stay on top of all your expenses. And categorize them throughout the year so you don’t miss a thing.
  • Tracks miles by keeping every trip logged. With on-the-go mileage tracking right from your mobile phone.
  • Captures receipts in a point, snap, and store your receipts and never lose proof of an expense.
  • You get 24/7 access to all your completed tax returns and avoid paying the IRS $50 every time you need a copy.
  • Prepare and print unlimited W-2 and 1099 tax forms for your employees and contractors.
  • Get your biggest tax deduction with the best depreciation method. And their guidance through calculations.
  • Free tax calculators and money-finding tools
  • If you change jobs, get married, buy a home, or have a baby. Turbo Tax will guide you through common life changes.
  • Explain how they impact your taxes and find any new tax deductions and credits you may qualify for.
  • It searches   500 + tax deductions and credits.
  • Maximizes mortgage property tax deductions.
  • Covers rental property income and tax deductions.
  • Turns charitable donations into big tax deductions with its deductible tool.
  • Covers stocks and bonds, ESPPs, and other investment income.
  • Imports investment income including cost basis.
  • Uncovers industry-specific deductions and handles the unique situations of online entrepreneurs.
  • Musicians, artists, performers, independent contractors, freelancers, and small business owners. It is unique to you and your line of work.
  • Maximizes business deductions for vehicle mileage, phone, supplies, home office, and more.
  • They’ll show you who qualifies as your dependent. Find tax-saving deductions and credits. Like the Child & Dependent Care Credit, Earned Income Credit (EIC), and child tax credit.
  • If you or your children attended college, trade school, or even took classes for work. They’ll help you find refund-boosting education tax credits and deductions. 1098-E, 1098-T for tuition, books, and student loan interest.
  • You can choose to receive your tax refund by check. Direct deposit to your bank account, or to a pre-paid Credit Karma Prepaid Visa® Card.
  • Get a comprehensive review of your tax return before you file. So, you can be confident nothing gets missed.
  • Their calculations are 100% accurate so your taxes will be done right, guaranteed. or Turbo Tax will pay you any IRS penalties.


Includes TurboTax State

TurboTax Federal automatically transfers your information to TurboTax State.

Once you’ve completed your federal tax return, they’ll automatically transfer your information and give you the option of completing your state taxes using TurboTax.

Includes TurboTax State TurboTax Federal transfers your information to TurboTax State. Once you’ve completed your federal tax return.

Turbo Tax will transfer your information. And give you the option of completing your state taxes using TurboTax.


What’s Included with TurboTax State?

  • Free e-file — With TurboTax State, you can e-file your return at no additional cost.
  • Automatic Transfer of Your Federal Information — Your federal info automatically transfers into TurboTax State, so you don’t have to type it twice.
  • Biggest State Refund guaranteed — If you get a larger state refund using another tax preparation method, they’ll give you your money back. No questions asked.
  • 100% Accurate Calculations guaranteed — They guarantee their calculations are 100% accurate, or they’ll pay you any IRS penalties plus interest.
  • Tax Guidance on Demand — Get expert answers to your questions. TurboTax State coaches you step by step to help you get your taxes done right.
  • Refund Monitor — TurboTax State dynamically displays your tax savings to show how each deduction affects your refund.

Special Offers

TurboTax and QuickBooks self-employed. Have integrated to make the self-employment filing process easier than it’s ever been.

We’ll import your QuickBooks Self-Employed income and expense accounts. And classify them for you.

TurboTax makes importing your Uber and Lyft rideshare tax data summary a breeze. Plus, you can now upload your food delivery income and expenses from UberEATS.

When you enroll in TurboTax Self-Employed to file your taxes. You will have the option to renew your QuickBooks Self-Employed subscription.

What is QuickBooks Self-Employed (QBSE?)

QuickBooks Self-Employed (QBSE) is an income and expense tracking product. Developed for self-employed individuals. To help them stay organized and prepare for tax time.

This online and mobile app product saves customers time and money. By allowing them to track and manage their business income and expenses.

Through the year and on the go and helps them estimate quarterly tax payments.

Benefits of QBSE

  • Effortless expense tracking, year-round!
  • Track expenses in real-time.
  • Track miles automatically.
  • Capture receipts.
  • Mobile App Free mobile app, available for both iOS and Android. Which reviews transactions and tracks mileage right from a phone.

Mint

To better understand your true financial health. Mint will help you to get the three numbers that matter.

Income, credit score, and debt-to-income ratio. Your credit score alone isn’t enough.

You will know where you stand and what it means by getting more personalized advice to help get all you deserve.

TURBOTAX ONLINE SELF-EMPLOYED Support

There is plenty of support for TurboTax Online Products. TurboTax Support is here to get you the tax and product support you need.

Ask a question or search for answers from experts and customers, 24/7. Or you can upgrade to TurboTax Live.

To connect one-on-one with a Turbo Tax specialist for answers on demand Your TurboTax specialist will provide customized answers.

To your questions and guide you by drawing on your screen*.

The Benefits of Turbo Live · Covers personal and work income, including complex situations.

  • Do your taxes and have a one-on-one review with a TurboTax CPA or EA before you file.
  • Live tax advice from experienced tax experts who know your unique situation are by your side.
  • Connect to a CPA or EA on your computer screen as often as you’d like.

TURBOTAX ONLINE SELF-EMPLOYED Price

TurboTax Online Self Employed is free to get started. Once you’re ready to e-file your return. Which is included free for your federal.

You have the option of paying for the software at the time of the e-file. Or have it deducted from your federal refund.

If you decided to upgrade to Turbo Tax Live the cost would increase.

Price per state is a separate cost

My Final Opinion of TURBOTAX ONLINE SELF-EMPLOYED

I have always used TurboTax as my DIY choice.

This year with the TurboTax Online Self-Employed product.

I feel more confident doing my own taxes. The software really does make it easy to do your own taxes.

It even offers expert support to guarantee the accuracy of my return.

It gave me every credit and deduction for my many sources of income.

At the time of writing this post, the QuickBooks Self Employed software. It is my go-to- choice for effortless income and expense tracking.

turbo tax online self employedThis tax year I used Turbo Tax Business. For tax purposes, I file as an S-Corp for my business Austin London Clay Enterprises LLC.

I highly recommend this product to all self-employed online entrepreneurs!

TURBOTAX ONLINE SELF-EMPLOYED at a Glance…

Name: TURBOTAX ONLINE SELF-EMPLOYED
Website: WWW.TURBOTAX.COM
Owners: INTUIT
Price: FREE-$170.00
Overall Scam Rank: 98 out of 100

VERDICT: LEGIT

What are your thoughts on paying taxes as a self-employed person? Would you choose the DIY option with a program like TurboTax? Leave your comments in the section below! Share this article and follow me on social media below.

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