Putting Expenses Into Tax Deductible Categories

TurboTax Business Desktop & QuickBooks: Your Essential Tax & Accounting Guides

Are you ready to take your business to the next level? From financial growth to smart taxation practices, understanding the ins and outs of TurboTax Business Desktop and QuickBooks will help you build a successful business plan. Read on for a comprehensive guide to these essential accounting tools and the differences between them.

Understanding TurboTax Business Desktop

TurboTax Business Desktop is a powerful tax preparation and filing software that allows small business owners to quickly plan taxes and file tax returns with ease. By automating mundane tasks and accessible information, TurboTax Business Desktop provides a fast and straightforward path to filing accurate tax returns. With its comprehensive set of accounting features and unparalleled user experience, it's an essential tool for small business owners.

Using QuickBooks for Accounting

QuickBooks is the number one accounting software for the small business community. It makes life easier for business owners by providing them with easy-to-use tools for tracking, invoicing expenses and maximising income. With its intuitive interface, QuickBooks makes setting up financial accounts quick and effortless. Furthermore, its array of added amenities, such as its payroll system, allows business owners to take advantage of its full capabilities.

Importing QuickBooks Data into TurboTax Business Desktop

It's easy to import data from your QuickBooks accounts into TurboTax Business Desktop. To begin, open the QuickBooks software and export the transactions into a CSV file. Then, open your TurboTax Business Desktop program, navigate to the QuickBooks tab and select the 'Import Data' option. Find the CSV file on your computer, select it and follow the onscreen prompts to finish the import process.

FAQs

Q: What is the difference between TurboTax Business Desktop and QuickBooks?

A: TurboTax Business Desktop is a software used to complete and file taxes, while QuickBooks is an accounting software used to track expenses and manage income.

Q: Does QuickBooks support multiple currencies?

A: Yes. QuickBooks supports over 150 different currencies.

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