Turbo Tax Premier Home & Business Review

If you run a small business from home, we highly recommend that you use the TurboTax online filing program to work on your return.

You can start right now, and pay nothing until you decide to file, while using the program's extensive features and help files.

Click here to start

If you'd rather purchase software that you install on your computer, and you normally file a 1040 with schedule C and D, then TurboTax Premier Home & Business is a good solution from the market leader in tax prep software.

Turbo Tax Premier, at a glance:   • price: 59.95 after $20 rebate   • step-by-step filing guide   • free e-filing   • free Next-Day Delivery

Our review of Turbo Tax Premier Home & Business

Overall rating: (out of 5)


This software package is basically Turbo Tax Premier with an added Schedule C and D feature, to help you calculate small business deductions (especially depreciation.)

Do you need this added functionality?

Well, if a Schedule C is in your future, than probably yes. It really depends on how complicated your return is, with the addition of your small business income. Keep in mind that if you use QuickBooks to manage your business accounts, then what you need is the industrial-strength Turbo Tax for Business instead.

Otherwise, this product will do its job just fine. (And currently, the normally steep price of $79.95 if mitigated by a $20 rebate.)

Click here to order TurboTax Premier Home & Business

Or

Start or working on your return right now, for free, with TurboTax Online.

Turbo Tax Deluxe for Home and Business product information

Note: the following is Intuit's own product description.

  • FREE Turbo Tax State with rebate – a savings of $29.95!

  • Expanded EasyStep® Interview gives you extra guidance to simplify Schedule C tax preparation and maximize tax savings. Also provides increased coverage of retirement plan distributions, Social Security benefits, sickness and injury benefits, life insurance proceeds, veteran benefits, trusts and estates, investment income, and more.

  • Home Office Expert helps show you how to take advantage of the home office deductions you're entitled to, so you won't miss out on the tax breaks you deserve.

  • Depreciation Expert gives you step-by-step guidance for depreciating assets – automatically chooses the most advantageous depreciation method. It's like having a business tax specialist looking over your shoulder!

  • UPDATED! Deduction Finder helps you take advantage of the latest tax laws to optimize savings. The Audit Alerts feature points out audit risks before the IRS does.

  • W-2/1099 Reporter prepares and prints W-2 and 1099-MISC forms for employees and contractors. TurboTax Premier Home & Business performs the calculations automatically!

  • UPDATED! Business Tax Library includes official IRS business publications, more than 1,000 pages of onscreen references, Fred Daily's Tax Savvy for Small Business, plus video tax advice from top financial experts.

  • 401k Maximizer reveals ways to increase your 401(k) contribution without decreasing your take home pay! Plus, IRA Analyzer helps you make side-by-side comparisons to choose the best IRA for your unique tax situation.

  • Get special tax-saving tools to help you save money in the future. TurboTax Premier Home & Business gives you a Tax Savings Action Plan filled with tips customized to your tax situation. You can print it out and refer to it all year! Plus, Life-Events Planner lets you see in advance how major life-event changes will affect your tax situation.

  • Retirement Tax Advisor provides tax smart advice for long-term-care insurance, employment taxes for a nurse, reverse mortgages, gifts and inheritance, contributing to grandchild’s education, two-year allowance for sale of home, and more.

  • Early Retirement Forecaster helps you decide when you can safely retire and how much you can withdraw from your retirement savings accounts.

  • Retirement Age Analyzer shows breakeven of taking social security early (62 vs full retirement age).

  • Social Security Trade Off Calculator shows you how a change in your income will affect your social security benefits.

  • Retirement Distribution Calculator helps determine the amount required to be withdrawn from your retirement plan after age 70-1/2.

  • Security Sales Reporter helps you cut through the complexities of reporting the sale of your stock, bonds, and mutual funds.

  • Cost/Basis Calculator guides you through the calculation of your basis for each trade.

  • Investment Tax Advisor provides tax smart advice for everything from withholding taxes and tax-free income to municipal bonds and employee stock option plans.

  • Security Sales Analyzer shows you the tax impact of your stock, bond or mutual fund sale.

  • Long Term Sale Calculator shows you how much you can save in taxes by holding your shares longer than 12 months.

  • Tax-Free Bond Calculator determines if you’re better off with a taxable bond or tax-free bond, based on the bond yield and your federal and state tax brackets.

  • Extra resources for rental property owners! Depreciation Expert helps you choose optimal ways to depreciate property and assets – from vacant rental properties to converting your personal residence to a rental and more. Rental Property Expense Expert reveals which expenses are deductible in areas such as travel, car, entertainment, advertising and insurance. Rental Property Tax Advisor provides expert insights into tax-saving opportunities.

  • UPDATED! Tax Law Advisor shows how new tax provisions will impact your taxes in Tax Year 2002 and future years. From the Alternative Minimum Tax and Child Tax Credit to major new education and retirement provisions, this powerful feature is an essential tool for taking advantage of all the tax-saving opportunities going into effect.

  • UPDATED! Complete Tax Library includes official IRS publications, more than 1,000 pages of easy-to-find onscreen references, the complete Money® Magazine’s Income Tax Handbook, plus video tax advice from top financial experts.

  • Instant Data Entry automatically retrieves W-2 wage, 1098 mortgage interest, and 1099 investment data from participating employers and financial institutions, then enters it in the right forms – reducing manual data entry and simplifying tax preparation.**

  • Import Quicken® and QuickBooks® data (2001 or higher) with our Just-In-Time Import. Simplifies tax preparation even more. Bring in separate categories of transactions, like deductions, and preview your entries one at a time, plus you can edit imported data easily.
Note: If you are a QuickBooks user, than Turbo Tax for Business is the product for you.

  • Transfer tax data instantly from last year's tax return prepared with a Turbo Tax or TaxCut® program for additional timesaving convenience.

Click here to order TurboTax Premier Home & Business

Or

Start or working on your return right now, for free, with TurboTax Online.

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