How to Maximize Your Tax Refunds as a Small Business LLC with TurboTax 2016

As a small business LLC, it's essential to stay organized and take advantage of every tax deduction available to you. With TurboTax 2016, you can simplify your financial management and increase your chances of getting the maximum refund you're entitled to.

One of the key features that sets TurboTax apart is its automatic mileage tracking feature. This tool uses your phone's GPS to log your business miles without draining your battery. According to QuickBooks Self-Employed users, this feature has helped them identify billions in potential tax deductions by attaching receipts to business expenses and categorizing them accurately.

TurboTax 2016 also offers a comprehensive guide to Employer Identification Numbers (EINs), explaining what they are, when you need one, and how to apply for it. As a self-employed individual or small business owner, understanding your EIN is crucial for filing taxes and staying compliant with the IRS.

In addition to mileage tracking and EIN guidance, TurboTax 2016 provides valuable resources for managing your finances as a small business LLC. You'll find information on organizing your expenses, creating invoices, and separating your personal and business finances.

Some of the specific topics covered in this publication include:

* Understanding Your EIN - Employer Identification Numbers

* Tax on Unrelated Business Income of Exempt Organizations

* Retirement Plans for Small Business (SEP, SIMPLE, and Qualified Plans)

* Business Use of Your Home (Including Use by Day-Care Providers)

* Travel, Entertainment, Gift, and Car Expenses

* Casualties, Disasters, and Thefts (Business and Nonbusiness)

All these resources are available in Adobe PDF format and can be printed for easy reference.

As a self-employed individual or small business owner, it's crucial to stay organized and take advantage of every tax deduction available. With TurboTax 2016 and its comprehensive range of tools and resources, you'll be well on your way to maximizing your tax refunds and putting more money back in your pocket.

Turbotax 2016 small business llc