I’m not making any income or having expenses yet, but when I do, what’s the best tax software for handling state and federal filings? I’ve looked into a few options, but every one has its ups and downs. Plus, the cost can be a big factor. Any recommendations from other small business owners would really help!
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Since your business isn’t generating income or expenses yet, this might be a good time to find a CPA you like. If you’re set up as an LLC or another pass-through entity, having a CPA you trust will be really helpful when things pick up.
@Haru
It’s a Corporation with an S-Corp election since it’s a holding company. The subsidiaries will be LLCs to manage liabilities. I’ll definitely start looking for a CPA to get advice on tax benefits and make sure payroll taxes are handled properly.
I’ve heard a lot of positive feedback about FreeTaxUSA. Might be worth checking out.
Are you asking about a C-Corp, S-Corp, partnership, or sole proprietorship?
For the first three, I’d suggest working with a tax professional.
If it’s a sole proprietorship, FreeTaxUSA could work for you.
I’ve tried a few tax software options, but none of them have been great for small businesses. That’s why I stick with a CPA.