TurboTax Business 2006 Corporations and Partnerships [OLDER VERSION]

Editorial Review
TurboTax Business 2006 can help simplify the complex process of filing your business taxes. If your business is a corporation or partnership/LLC, and earns up to 250,000 dollars a year, TurboTax Business is ideal for preparing and filing your business income taxes. This easy-to-use software prepares Forms 1120S ("S" corporations), 1065 (partnerships/LLCs) and 1120 ("C" corporations) while also working for estates and trusts.

Compare TurboTax Business 2006 to other TurboTax versions.

The EasyStep interview asks you simple questions and instantly places your answers onto IRS-approved forms. View larger.

Step-by-Step Guidance
This invaluable program guides you through your business return step-by-step so you can quickly file your taxes and receive an even faster refund. You won't have to struggle with confusing tax laws or directions-- Business 2006 does it all for you by asking easy-to-understand questions in plain English and then placing your answers onto IRS-approved forms. To ensure complete accuracy, it then double-checks your return for errors and even flags potential audit risks.

Time-Saving Options
The Business 2006 features a business profiler option that allows you to develop a profile of your business and customize your step-by-step interview. This means you won't have to spend time answering questions that don't apply to your business or wading through unnecessary steps to get to the bottom line. Designed to pinpoint what forms you need in a minimum of steps, Business 2006 keeps things clear and simple.

The "Getting Organized" section gives you a customized list of the documents you'll likely need to complete you return, so you'll never have to scramble to find just the right form. You'll also avoid losing your place while you hunt for important papers. When it comes to retrieving information already stored on your computer, the import options make it a snap to access the data you need. Take advantage of the QuickBoosk import function to import your QuickBooks data directly into the Business 2006.

Finally, the two-tier format shows you high-level tax topics and the specifics that relate to each topic. The results: it's easier to enter data in your return, and to go back and make changes if necessary.

More Detailed Categories
Versatile and flexible, Business 2006 ensures that you get every deduction your business is entitled to, even those that are often overlooked. By giving you access to more detailed income and expense categories, including custom-tailored categories for industries like service businesses or real estate rentals, you'll have important, specialized information that can result in a bigger return than ever before.

Precise Guidance
The Business 2006 walks you through depreciating your business assets while automatically downloading and installing program updates as tax forms and tax laws are updated by the government. It also examines your return and identifies additional deductions that you may be eligible for, probing for items you may have overlooked. For added peace of mind, this program also identifies overlooked deductions and inconsistencies that could trigger an IRS review.

Convenient Preparation
The Business 2006 easily prepares K-1, W-2 and 1099-MISC forms for partners, employees and contractors, performing the calculations and printing on plain paper. It also offers tips on getting ready for an accountant to review your business tax return. And if questions do come up, you can take advantage of the free telephone support that comes with purchasing this product.

Customer Reviews

Turbo Tax Business 2006 Corporation and Partnerships

2008-06-21
I purchased this product to complete the company tax returns in 2007 for 2006. The product was very easy to use and allowed me to file me taxes on time without the headache. However, you have to repurchase the product each year; there are not upgrades.

Sorry I Purchased This

2007-06-06
This program worked pretty well, but I am sorry I purchased it. I'm a senior citizen in Medford, Oregon and could have had my tax done for free. I didn't save any money by using this program. I just wasted money by buying it.
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Also, I had to waste a lot of time downloading updates. And there was a problem with the fact that I sold my old car and purchased another car for a higher price. Was I supposed to get a deduction for that? I'm old. I wished for a human being.

POOR CUSTOMER SERVICE

2007-06-04
THIS ITEM WAS RECEIVED TWO WEEKS LATER THAN AMAZON PROMISED. THEY SAID IT WAS IN STOCK AND WE GOT THE EXPRESS SHIPPING?? WHEN WE CALLED TO FIND OUT WHY, THEY SAID IT WAS A PROCESSING ERROR AND WE NEVER RECEIVED CREDIT!!! AMAZON DIDN'T STAND BEHIND THEIR WORD. FRUSTRATED.....AND TIME WASTED!!! BUY IT AT WALMART LIKE I WILL FROM NOW ON!

not as easy as expected for a first time user

2007-04-18
I previsouly used an accountant for my S-corp (federal, state and NYC) returns as well as (federal and state) personal returns. That can easily come to $1000. With turbotax you save a bunch around $750. The business product DOES NOT INCLUDE STATE RETURN which is another $50, and the NYC return is an additional $50 (available from inside the program).

I used it the first time this year, I am pretty good with numbers, accounting and excel. It tool me well over 10 hours to enter the business returns after having all my numbers estimated in excel.

The customer support by email was helpful as was the community forum, but responses are not always quick. and it is a time consuming process to research questions. The is VERY LITTLE GUIDANCE in filling out the state and NYC return. TT basically gives you the form and let you fill in the areas not generated by numbers on the federal return. TT reviews those returns for errors which certainly adds some value (relative to pencil and paper). It was too difficult for me to fill in state and NYC myself off the fed business return without any software, so I don't see that as an option (to save $100) despite the limited additional information needed.

BOTTOM LINE - The first year using it will probably cause some of your hair to turn grey, subsequent years should be much easier. The navigation and interface is not intuitive enough for to make the first year smoot but over the years you can save a substancially in preparing you own taxes.

One strategy might be to try it one year and run it by a tax accountant (as training wheels) and then in subsequent years do it on your own. (of course year one would be time consuming and expensive but that probably makes sense in the long run.)

Much Improved

2007-04-11
The 2006 version is much improved over earlier versions. It took me only an average of 2 hours each to do two trust returns.

Typical Turbo Tax

2007-04-04
TurboTax Business 2006 can help simplify the complex process of filing your business taxes. If your business is a corporation or partnership/LLC, and earns up to 250,000 dollars a year, TurboTax Business is ideal for preparing and filing your business income taxes. This easy-to-use software prepares Forms 1120S ("S" corporations), 1065 (partnerships/LLCs) and 1120 ("C" corporations) while also working for estates and trusts.

Compare TurboTax Business 2006 to other TurboTax versions.

The EasyStep interview asks you simple questions and instantly places your answers onto IRS-approved forms. View larger.

No-Risk Guarantee
There's absolutely no risk involved in using Business 2006. TurboTax guarantees you'll get the maximum refund you're entitled to with this software than with any other tax preparation method or they'll refund you every penny of your purchase price.

Solid. 2007-04-03
Solid, familiar and dependable. Although, I wish there was an option to only update the specific income information from the prior year without going through the extensive interview.

trust/partnership returns 2007-03-24
i had a problem at the end of the process in that the program indicated no errors, but when you went to print the return, the message stated that there were errors on the return. i contacted turbo tax directly, but they had no explanation. they simply said that they had received a couple of calls about this problem. that was it.

Intuit SUCKS 2007-03-13
Turbo Tax is fine. The linking into Quickbooks Pro (QBP) is limited to only the most recent 2 versions of QBP. So if you have an older version (older than 2005) you have to buy the new QBP to have Turbo Tax lift the data out of QB. Now Intuit will only sell a new version of 2007 - NO MORE UNGRADES. "For the consumer" they will tell you. BS, I will be changing accounting platforms as soon as I can find a replacement. This is the problem with software oligolopies! An Open Source replacement is much needed for both Tax prep and accounting.

Turbotax Business 2007-03-12
Very helpful. Had it reviewed by my CPA and he had only 2 minor comments and it is ready for submittal to IRS.