The world of business taxes can feel like a labyrinth, and for many entrepreneurs, the thought of navigating it alone is enough to induce a full-blown stress headache. That's where services like TurboTax Full Service Business come into play, promising to take the burden off your shoulders. But before you dive in, a critical question looms: "How much is TurboTax Full Service Business?"
Let's embark on a comprehensive journey to demystify the costs, features, and overall value of TurboTax Full Service Business. By the end of this guide, you'll have a much clearer picture of whether this service is the right fit for your business's tax needs.
Step 1: Are You Even in the Right Place? Understanding Business Entity Types
Before we talk about costs, let's make sure you're looking at the right solution. TurboTax Full Service Business is specifically designed for certain types of business entities.
So, which one are you?
Sole Proprietorship or Single-Member LLC (taxed as a Sole Proprietorship): If you're a one-person show and your LLC hasn't elected to be taxed as a corporation, your business income and expenses are generally reported on Schedule C of your personal tax return (Form 1040). For this, TurboTax's Self-Employed (Online) or Home & Business (Desktop) might be more appropriate, though Full Service for Self-Employed is also an option.
Partnership (Multi-Member LLC): If your business has two or more owners and is an LLC that hasn't elected to be taxed as a corporation, you'll typically file Form 1065 (U.S. Return of Partnership Income).
S-Corporation (S-Corp): If your business has elected S-Corporation status with the IRS, you'll file Form 1120-S (U.S. Income Tax Return for an S Corporation).
C-Corporation (C-Corp): If your business is a C-Corporation, you'll file Form 1120 (U.S. Corporation Income Tax Return).
Trusts and Estates: TurboTax Business desktop software also supports these.
Why is this distinction important? Because the cost and features of TurboTax Full Service Business can vary significantly depending on your business's legal structure. The "Full Service Business" often refers specifically to partnerships, S-Corps, and C-Corps, while single-member LLCs might fall under "Self-Employed Full Service."
Step 2: Unpacking the Price Tag: What Does TurboTax Full Service Business Cost?
Now, for the main event: the cost. TurboTax pricing, especially for Full Service options, can be dynamic and subject to change based on the tax season, promotions, and the complexity of your return. However, based on recent information (as of May-June 2025), here's a general breakdown:
Subheading: Federal Filing Base Price
For business entities like S-corps, C-corps, and partnerships (multi-member LLCs), TurboTax Full Service Business can be quite a significant investment. While exact prices are subject to change, expect a base federal filing fee that can range from approximately $489 to over $1169. It's often higher during peak tax season or if you opt for the most comprehensive full-service offerings.
For sole proprietorships and single-member LLCs who opt for TurboTax Live Full Service Self-Employed, the federal filing might start around $359-$409.
Subheading: State Filing Fees
This is where costs can quickly add up. State tax filings are almost always an additional fee per state. For business returns, this can be around $60 to $79 per state. If your business operates in multiple states, be prepared for this expense to escalate.
Subheading: Potential Additional Costs and Upsells
TurboTax is known for its user-friendly interface, but also for its frequent "upsells" or additional fees for certain situations. Be aware of:
Complex Situations/Extra Forms: While Full Service aims to cover everything, if your business has unusually complex transactions, specific deductions, or requires obscure forms, there might be additional charges.
E-filing Fees for Desktop Software: If you use the desktop version of TurboTax Business (often required for multi-member LLCs, S-corps, and C-corps), federal e-filing is usually included, but state e-filing can be an extra $25 per state. Otherwise, you'd need to print and mail.
Bank Products/Refund Advances: If you choose options like paying your TurboTax fee from your refund or getting a refund advance, banks typically charge an additional fee, often $40 or more.
Audit Defense+: While some Full Service plans might include this, it's often an optional add-on that provides representation and assistance in case of an IRS audit.
Important Note: The prices mentioned are estimates and can fluctuate. Always check the official TurboTax website for the most current pricing for your specific business entity and desired service level.
Step 3: The "Full Service" Promise: What Do You Get?
When you opt for TurboTax Full Service Business, you're essentially handing over the reins to a tax professional. Here's what that typically entails:
Subheading: Dedicated Tax Expert
You'll be matched with a dedicated tax expert (often a CPA or EA) who specializes in business taxes. This individual will be your primary point of contact throughout the process.
Subheading: Document Hand-Off and Preparation
Upload Your Documents: You'll securely upload all your business's financial documents – income statements, expense records, payroll information, previous year's tax returns, articles of incorporation, partnership agreements, 1099s, W-2s, bank statements, etc.
Expert Does the Work: The tax expert takes all your provided information and prepares your business tax return from start to finish. This includes calculating income, expenses, depreciation, and identifying applicable deductions and credits.
No Manual Entry: The key benefit here is that you don't have to manually enter data into the software yourself.
Subheading: Review and Filing
Expert Review: Once the return is prepared, your expert will review it for accuracy and ensure everything is optimized for your maximum tax savings.
Your Approval: You'll have the opportunity to review the prepared return with your expert and ask any questions before it's filed.
E-filing: The expert will then sign and e-file your return on your behalf.
Subheading: Guarantees and Support
100% Accuracy Guarantee: TurboTax typically guarantees the calculations are 100% accurate. If there's an error due to their software or expert, they'll pay any IRS or state penalties and interest.
Maximum Tax Savings Guarantee: They also guarantee that their experts will find every dollar you deserve, or you get your money back.
Audit Support: Many Full Service Business plans include audit defense or support, meaning an expert will assist you in case your business return is audited by the IRS.
Year-Round Advice (Sometimes): Depending on the specific package, you might get access to year-round tax advice from your dedicated expert, which can be invaluable for ongoing business decisions.
Step 4: Is It Worth It? Weighing the Pros and Cons
Deciding on TurboTax Full Service Business involves a careful evaluation of its advantages and disadvantages for your specific situation.
Subheading: The Benefits of Full Service
Time-Saving: This is arguably the biggest benefit. You offload the entire tax preparation process, freeing up valuable time to focus on running your business.
Reduced Stress and Error: The peace of mind that comes from having a professional handle your complex business taxes, ensuring accuracy and compliance, is significant.
Maximizing Deductions: Tax experts are adept at identifying all eligible deductions and credits, potentially leading to greater tax savings than if you tried to do it yourself.
Expert Guidance: You get direct access to a tax professional for questions and advice, which can be particularly helpful for new business owners or those with complex financial situations.
Audit Protection: The included audit support provides a safety net, should your business be selected for an audit.
Convenience: The entire process is handled online, from document upload to expert consultation, making it highly convenient.
Subheading: The Drawbacks of Full Service
Cost: As we've established, it's significantly more expensive than DIY software. For smaller businesses with straightforward financials, the cost might outweigh the benefits.
Less Control/Learning: You're less involved in the nitty-gritty of the tax preparation, which means you might not learn as much about your business's tax situation.
Communication Reliance: While you have a dedicated expert, the efficiency of the process depends on clear communication and timely document submission from your end.
Not a Substitute for a Full-Time Accountant: While excellent for tax filing, a Full Service option is not the same as having a full-time accountant who handles your bookkeeping, financial planning, and ongoing business advice throughout the year.
Step 5: Making Your Decision: When to Choose Full Service
So, when is TurboTax Full Service Business the right choice for your company?
Complex Business Structure: If you're a multi-member LLC, S-Corp, or C-Corp, the complexity of the forms and regulations often warrants professional assistance.
Significant Revenue/Expenses: Businesses with substantial income, numerous expense categories, or intricate financial transactions can benefit from expert optimization.
Time-Strapped Entrepreneurs: If your time is better spent on core business operations than on tax preparation, the investment in Full Service can pay off.
New Business Owners: Those new to business taxes can avoid costly mistakes and gain confidence by having an expert guide them through the first few filings.
Desire for Peace of Mind: If the thought of a tax audit keeps you up at night, the included audit support and expert preparation can be invaluable.
Growth-Oriented Businesses: If your business is rapidly expanding or undergoing significant changes (e.g., new investments, hiring employees), an expert can help navigate the tax implications.
However, if you're a very small sole proprietorship with minimal income and expenses, or if you're comfortable and knowledgeable about tax laws, a DIY solution (even with Live Assisted support) might be more cost-effective.
Step 6: Getting Started: The TurboTax Full Service Business Process
If you've decided Full Service is for you, here's a general idea of how the process works:
Visit the TurboTax Business Website: Navigate to the TurboTax section dedicated to business taxes and the Full Service option.
Provide Basic Business Information: You'll answer a few initial questions about your business type, income, and expenses. This helps TurboTax provide a price estimate and match you with the right expert.
Securely Upload Documents: You'll be given a checklist of necessary documents and a secure portal to upload them. This might include:
Prior year's business tax return (if applicable)
Bank statements and credit card statements
Income statements (e.g., 1099s, sales reports)
Expense receipts and invoices
Payroll records (if you have employees)
Asset purchase details for depreciation
Articles of incorporation/organization, partnership agreements
Any other relevant financial documents.
Get Matched with an Expert: TurboTax will match you with a tax expert who has experience with businesses like yours.
Initial Consultation (Optional/As Needed): You might have a quick call with a tax preparation assistant to ensure all documents are received and organized. Then, you'll connect with your dedicated tax expert to discuss your business and any specific tax considerations.
Expert Prepares Your Return: Your expert will diligently work on preparing your federal and state business tax returns.
Review and Approve: Once complete, your expert will present the prepared returns to you for review. They'll walk you through everything, answer your questions, and explain your tax outcome.
E-file: With your final approval, the expert will sign and e-file your business tax returns. You'll receive confirmation of filing.
Frequently Asked Questions (FAQs) - How To Edition
Here are 10 common "How to" questions related to TurboTax Full Service Business, with quick answers:
How to know if TurboTax Full Service Business is right for my entity type?
TurboTax Full Service Business is typically for multi-member LLCs, S-Corps, C-Corps, trusts, and estates. If you're a sole proprietor or single-member LLC, TurboTax Self-Employed or Home & Business, or their respective Full Service options, are usually more appropriate.
How to estimate the cost of TurboTax Full Service Business for my specific situation?
The best way is to visit the official TurboTax Business website, go through their initial questionnaire about your business type and income, and they will provide a personalized price estimate. Be sure to factor in state filing fees.
How to prepare my documents for TurboTax Full Service Business?
Gather all income statements (1099s, sales data), expense records (receipts, invoices, bank statements), prior year's tax return, and any official business documents (EIN, articles of incorporation). Organize them neatly for easy upload.
How to communicate with my TurboTax Full Service expert?
Communication is typically done through secure online messages, video calls, or phone calls within the TurboTax platform. You'll schedule meetings at your convenience.
How to ensure my business gets the maximum deductions with Full Service?
Provide your expert with all relevant financial information, even if you're unsure if it's deductible. Their expertise lies in identifying every eligible deduction and credit.
How to track the progress of my business tax return with Full Service?
The TurboTax platform usually provides a dashboard or status updates where you can see the progress of your return and communicate with your expert.
How to handle an IRS audit if I used TurboTax Full Service Business?
Most TurboTax Full Service Business plans include Audit Defense. If audited, you'll work with your dedicated expert or another TurboTax audit specialist who will represent you and handle all correspondence with the IRS.
How to pay for TurboTax Full Service Business?
You typically pay directly through the TurboTax platform when your return is completed and you're ready to file. Options may include credit card, debit card, or sometimes deducting the fee from your refund (with an additional charge).
How to get started with TurboTax Full Service Business if I'm a new business?
Start by gathering your Employer Identification Number (EIN), initial business expenses, income records, and any official business registration documents. TurboTax has specific guidance for new businesses within their platform.
How to decide between TurboTax Full Service Business and a local CPA?
Consider the complexity of your business, your budget, and your preference for interaction. TurboTax Full Service offers convenience and online accessibility, while a local CPA might provide more personalized, ongoing financial advice and in-person meetings. Compare pricing and features carefully.