TurboTax Business 2007 [OLD VERSION]

by Intuit

Product Features

• Includes everything you need to maximize your business income taxes
• Expanded interview guides you step-by-step through your return to help maximize business expenses, vehicle deductions, depreciation and more
• Creates W-2 and 1099-MISC forms for your employees and contractors
• Shows you your maximum depreciation method
• Includes over 60 categories of business deductions

Product Details

• Shipping Weight: 2.4 ounces
• Shipping: This item is also available for shipping to select countries outside the U.S.
• ASIN: B000W3T6QE
• Date first available at Amazon.com: October 2, 2001
• Average Customer Review: 3.3 out of 5 stars  See all reviews (29 customer reviews)
• Amazon Bestsellers Rank: #2,400 in Software (See Top 100 in Software)

  #57 in

  Software > Tax Preparation

• Discontinued by manufacturer: Yes

Product Description

Amazon.com

TurboTax Business 2007 helps your business finish all the necessary federal forms, including the 1120S ("S" corporations), 1065 (partnerships/LLCs) and 1120 ("C" corporations). You can also prepare your K1, W-2, and 1099 for your employees, as well as find over 60 categories for deductions to help get your maximum refund. File as many forms as you need, there's no limit. And with a 100% accuracy guarantee and specialized help should your business be audited, TurboTax Business 2007 has you covered.

Get More Out of Your Investments
Whether you own stocks, bonds, mutual funds, rental property, or all of the above, TurboTax Business helps you get your maximum refund – guaranteed.

Get Your Maximum Refund – Guaranteed

Answer Easy Questions
TurboTax Business asks easy questions based on your business profile. Then we put your answers on the right forms for you.

Maximize Your Deductions
From Web sites and sponsorships to staples and coffee, TurboTax Business helps you qualify for more than 60 categories of deductions.

Reduce Your Risk of Audit
TurboTax Business checks your return for errors and shows you how to reduce your risk of audit.

IMPROVED! Enter Your Business Income
All your sources of business income are now more easily entered and tracked.

Quickly Enter Business Expenses
Detailed records or not, TurboTax Business makes reporting expenses easy. We'll guide you with customized questions. Or you can enter your expenses on one screen, line by line.

INCLUDED. Easily Prepare K1, W-2, and 1099 Forms
TurboTax Business helps you prepare unlimited forms for partners, employees and contractors. We do the math, so it's 100% accurate – guaranteed.

Prepare taxes for one or multiple business – there's no limit.

Import from Quicken®, QuickBooks®, and Microsoft Money®
TurboTax Business imports information from your financial software, so you can skip the cut and paste this year.

Maximize Your Deductions

Get More from Your Cars
Offset your gas costs. We'll automatically use the reporting method – actual expenses or standard mileage – that gets your business the deduction it deserves.

Maximize Your Equipment Deduction
Should you deduct equipment in one swoop or claim depreciation? When the IRS allows both, we use the approach that's most valuable to your business.

Discover Your Most Profitable Depreciation Method
TurboTax Business walks you through reporting depreciation of business assets. We even show which depreciation method will get you the biggest deduction.

View Deductions by Industry
Know what your competition deducts? TurboTax Business lists tax write-offs by industry so you don't miss out on money you're entitled to.

Reduce Your Risk of Audit

TurboTax Business double-checks your return for accuracy and completeness and helps you fix any errors before the IRS spots them. We arm you with proof for your claims and help protect you from IRS penalties.

NEW – Easily Handle an IRS Audit
Should the IRS contact you, TurboTax will explain your risk (or lack thereof) and show you how best to respond.

Accurate Calculations
We do the math and put 100% accurate figures on your tax forms – guaranteed.

Product Description

Intuit TurboTax Business for Tax Year 2007. For Windows and Mac. Small box.

Customer Reviews

Most Helpful Customer Reviews

9 of 9 people found the following review helpful:

1.0 out of 5 stars Waste of Time and Money, March 25, 2008

By	Angel "Movie Star Bulldog" (NC) - See all my reviews

This review is from: TurboTax Business 2007 [OLD VERSION] (CD-ROM)

Do not bother with this product. Why?

1) If you don't have a fairly current version of QuickBooks, then you can't import your data into TurboTax. I'm not about to spend the crazy $$ to upgrade my QuickBooks, which works just fine for me, just so that I can import data into TurboTax.

2) Without importing, you will spend an unacceptable amount of time entering data, espeically depreciable asset information. If you understand accounting enough to manage depreciable assets and enter it into the program, then you understand it enough to fill out your tax forms (1065, 1120S, etc) by hand.

3) At the end of the day, without the ability to import, the program is just walking you through the form and asking for the information. You can download the Acrobat web fill-in forms from the IRS website and do the same thing there. The few checks that TurboTax performs aren't worth the trouble to use it. Besides, if you're using any sort of accounting software, those checks are already built in. For instance, does your balance sheet balance? If you're using accounting software, you'll already know that.

4) They want even more money to download the state version? Are you kidding me?

5) Of course, this software doesn't include personal income tax prep, so you have to pay even more for that!

My advice... buy the Home & Business version, use that to prepare W-2/1099s if you need them for your business, and use it for your personal tax return. If you are adept at accounting, and you run a small business as a partnership, LLC, or S-corp, prepare the business return by hand. If you're not comfortable doing that, then you probably should be paying someone to handle your accounting/returns. Unlike the personal versions, TurboTax Business isn't going to walk you through what you need to know at the level you need to know it.

9 of 9 people found the following review helpful:

2.0 out of 5 stars Warning: QuickBooks Upgrade Required!, January 29, 2008

By	Terry Allen-Rouman (San Francisco, CA USA) - See all my reviews

This review is from: TurboTax Business 2007 [OLD VERSION] (CD-ROM)

I like the TurboTax products, but find it very self-serving and frustrating that Intuit keeps requiring us to upgrade QuickBooks in order to use TurboTax. This year's TurboTax Business will only import data from QuickBooks 2006 or newer. We're thoroughly happy with QuickBooks 2005 and have no business reason to upgrade. The only reason we need to pay Intuit another $150+ is so we can import our data into the new TurboTax. Ugh!! So just beware - if you have an older version of QuickBooks, this product is ultimately much more expensive than its list price.

9 of 9 people found the following review helpful:

5.0 out of 5 stars Decent, same as always, January 15, 2008

By	Jim B (New Mexico) - See all my reviews

Amazon Verified Purchase

This review is from: TurboTax Business 2007 [OLD VERSION] (CD-ROM)

I purchased this for my S Corporation, and it works fine, I have used previous versions of TTB 2007 for several years. It beats having to shell out $600+ for a professional, and I end up doing about the same amount of work. It imported the 2006 return fine. I would recommend it for a small to medium size business. The only thing that is difficult is manually accessing and filling forms, but it can be done. The interview is automatic, and great for simple businesses.