Your business. Your dream. Your best tax season yet.
Congrats on starting your business! From P&L templates to deduction checklists, we’ve got everything you need to file your business taxes right the first time.
Your business. Your dream. Your best tax season yet.
Congrats on starting your business! From P&L templates to deduction checklists, we’ve got everything you need to file your business taxes right the first time.
HOW IT WORKS
A simple path to filing your business taxes
From organizing your records to submitting your return, follow these steps to file with confidence.
Gather your records.
Before you start filing, get everything you'll need in one place.
That includes:
Tip
Keeping these organized throughout the year makes tax season much smoother.
Prepare a P&L Statement.
Your P&L (or income statement) shows how much your business earned and spent over the year. It’s the foundation for your business tax return — and helps you see your profitability at a glance.
You’ll use it to:
Confirm your business type
Many new businesses form as LLCs. For tax purposes, the IRS looks at how your LLC is structured — single owner, multiple owners, or if you’ve elected S-corp or C-corp status.
| IRS classification | Applies to: | Common forms |
|---|---|---|
| Sole Proprietors | Self-employed individuals or single-member LLCs that haven’t elected another status | Schedule C (Form 1040) |
| Partnership | Multi-member LLCs or general partnerships | Form 1065, Schedule K-1 |
| S Corporation | Businesses that filed Form 2553 to elect S corp status | Form 1120-S, Schedule K-1 |
| C Corporation | Businesses taxed separately from their owners | Form 1120 |
Review & file confidently
Once you’ve entered your business information, you’ll see a clear summary of your results — what you earned, what you can deduct, and what you owe. TaxAct checks for accuracy, helps you spot potential savings, and makes it easy to file securely.
Filing both business and personal?
You can bundle your business return with your individual 1040 to keep everything in one place — one login, one seamless filing experience. Finish your first business tax season with confidence — knowing it's all done right.
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What small business filers are saying.
First-year business owners trust TaxAct to make filing simple and stress-free.
Great experience!
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@Dr. Ban Oct 26, 2025
Worth it!
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Easy Peasy
“This product literally walks you through the entire process. Gather your paperwork by form type and minutes later your e-file is complete. I filed using an extension, but still received my ACH Deposit in under 2 weeks.”
G in FL Oct 7, 2025
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