In a panic over your venture’s taxes? Check out Turbo Tax’s Self-Employed program.
Per usual, Triumph received no financial compensation from the listed companies for writing this article. Straight from the heart, baby.
Tax season can be stressful, especially if it’s your first year filing for your corporation, LLC, or non-profit. In fact, fear over taxes is one of the biggest barriers when deciding whether or not to launch a new venture.
We see that exact fear a lot in clients, but it need not be so. There are several great products on the market that can help take the guess work (and the risk of auditing) out of your IRS tax filing. We don’t get paid by any of these companies, but we have personally trusted Turbo Tax to handle our own business filings for a while now, so we feel we can write an article about them in good conscious. You know the drill, only honest reviews in these parts.
Turbo Tax has an extremely diverse plan offering, but—if like most Triumphers—you own your own LLC, corporation, non-profit, we recommend using the Turbo Tax Self-Employed program.
Today’s article is small but mighty. The Turbo Tax program will essentially hold your hand and help walk you through the confusing segments (as if there are any other kind) of filing, so we don’t see the need to bemoan the information in our article. We’re just here to point you in the right direction.
What of the fees?
The Turbo Tax Self-Employment program is competitively priced as any on the market. For a full federal filing, Turbo Tax will run you $119. For an additional $60 you can also have them take care of your state filing (which we strongly recommend).
This is far below the hourly of a private tax expert. And while some adventures do require that level of tax services, we’ve found that—more often than not—our Triumpher friends find themselves stuck in an awkward middle. Their taxes aren’t quite complicated enough to justify hiring a private consultant, but they are a bit too complicated to tackle alone. And that, friends, is where Turbo Tax comes in to save the day. They understand their niche, and we love them for it.
The fun part
If you’ve been studious with your expenses and other write-offs, you could even end up with a nice little tax return coming your way. Some extra cheddar in the pocket never hurt anyone—especially not on Triumph. Assuming it’s large enough, you can even opt (with a convenience fee) to pay Turbo Tax solely using your tax return. That’s pretty nifty, particularly if margins are tight.
Oh—and best of all—Turbo Tax is owned by Intuit, who also owns Credit Karma, so you’ll have access to your tax refund extra early if you sign up for a free (and non-credit effecting) Credit Karma checking account. We’ve heard of some clients getting their returns back in less than a week. That’s crazy fast—exactly how we like our cash flows.
Run it back turbo
Like we said, we’re on the shorter side today, but we don’t think that makes the information any less valuable. Let’s face it—taxes suck—but Turbo Tax can help them suck a little less. Oh, and when that swell little tax return comes in, feel free to go and invests some it at the Triumph Shop. You know you want to.
As always, feel free to Ask Triumph with any additional questions and consider Supporting the Team.
All views expressed in the article are opinions of the author and should not be misconstrued as professional consulting or legal advice. Users are responsible for verifying all information before taking action, and Triumph Group LLC is not responsible for any outcomes. Pursue subjects at your own risk. Seriously, man. It’s your life.
