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I look forward to when they support filing for a LLC (sole owner) along with a W2. I've used an accountant the last 2 years for filing because starting my LLC
by joshstrange 2y ago
I look forward to when they support filing for a LLC (sole owner) along with a W2.
I've used an accountant the last 2 years for filing because starting my LLC kicked my taxes up a notch into an area that I do not feel comfortable doing myself (via paid products). After I saw it done once for me it looked like it wasn't too bad but still not something I would do without software. Most of the work was just itemizing and categorizing expenses.
- SoftTalker 2y agoI do my taxes on paper because the paid products want to charge you more if you have self-emploment income. I have done my own Schedule C and self-employment taxes. It's not bad. A single-owner LLC is a "pass through" entity as far as the IRS is concerned. It's just another source of self-employment income. I use the spreadsheet from https://sites.google.com/view/incometaxspreadsheet/home https://sites.google.com/view/incometaxspreadsheet/home to help. The first year there was some anxiety as to whether I was doing it right, but I've never gotten any notices about errors for that so I assume it's all good....
- coldpie 2y ago> I do my taxes on paper If you haven't, check out the Free Fillable Forms from the IRS. It's basically the same as the paper forms, but you don't have to shuffle actual paper around and you can just submit it online.
- glimshe 2y agoFreeTaxUSA supports it - I did it for my wife's LLC this year. You can do the federal taxes for free, but you will have to pay $14.99 for the state taxes (if you want to). The LLC has nothing to do with it, every customer gets the full feature set for the same price.