![]() ![]() (TurboTax Free Edition customers are entitled to payment of $30.) This guarantee is good for the lifetime of your personal, individual tax return, which Intuit defines as seven years from the date you filed it with TurboTax. If we are not able to connect you to one of our tax professionals, we will refund the applicable TurboTax federal and/or state purchase price paid. We will not represent you before the IRS or state tax authority or provide legal advice. Audit Support Guarantee – Individual Returns: If you receive an audit letter from the IRS or State Department of Revenue based on your 2022 TurboTax individual tax return, we will provide one-on-one question-and-answer support with a tax professional, if requested through our Audit Support Center, for audited individual returns filed with TurboTax for the current 2022 tax year and, for individual, non-business returns, for the past two tax years (2021, 2020).(TurboTax Online Free Edition customers are entitled to payment of $30.) This guarantee is good for the lifetime of your personal, individual tax return, which Intuit defines as seven years from the date you filed it with TurboTax. Maximum Refund Guarantee / Maximum Tax Savings Guarantee - or Your Money Back – Individual Returns: If you get a larger refund or smaller tax due from another tax preparation method by filing an amended return, we'll refund the applicable TurboTax federal and/or state purchase price paid.This guarantee is good for the lifetime of your personal, individual tax return, which Intuit defines as seven years from the date you filed it with TurboTax. 100% Accurate Calculations Guarantee – Individual Returns: If you pay an IRS or state penalty or interest because of a TurboTax calculation error, we'll pay you the penalty and interest.Backed by our 100% Accurate, Expert Approved guarantee. ![]() Get matched with a dedicated small business tax expert, enjoy unlimited year-round advice and answers at no extra cost, and be confident that our small business tax experts will help you find every tax deduction and credit your business deserves. With NEW TurboTax Live Full Service Business, we enable the small business owner to be paired with a dedicated tax expert specializing in small business taxes to handle Partnerships (1065), S-corp (1120-S), and multi-member LLCs. In a sense, the IRS is telling you that only 50 percent is reasonable. But the IRS typically still limits these deductions to 50 percent of the cost that is not extravagant or overly luxurious. ![]() ![]() For example, footing the bill to take a perspective client to dinner is ordinary and necessary since it may enhance your business. In some situations the IRS will decide what is reasonable for you. For the expense to be necessary, it just needs to be helpful to your business in some way. Many business owners think that necessary mean the expenses required. If the answer is yes, then the expense is most likely ordinary. When you think to yourself whether your expense is ordinary, you should ask the question would a similar business incur this type of expense during the year. You may think this is too vague, but it may actually be to your benefit. With all the different business expenses you pay, have you ever wondered which amounts are reasonable to deduct? Well, as broad as the term reasonable may be, there are some simple rules you can follow to make completing your business tax return a little less confusing.Ī general guideline you should follow is that a reasonable business expense must be ordinary and necessary. Hello, I'm Sara from TurboTax with important news about your business deductions. ![]()
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