Business

How to Use The Turbo Tax Prepaid Card Self Employed

Description: This passage is mainly about turbo prepaid card. In this passage, the writer tells us something about Spence finder an expense finder which is only found in the Turbo Tax self employed version of Turbo Tax.

Good morning, good afternoon, good evening to wherever you are in all parts of the world, I’m Jackson Smith, and I’ll be your presenter for today, today’s date is February the 1st 2017 when a new month, a new season, the 2016 tax season and everyone should be excited, everyone should have received their 1099s or their w-2s, so they’re they’re calling turbo tax now to get that refund to e-file.

They’re excited, I’m excited as well, but today we’re going to be taking a look at Spence finder, an expense finder is only found in the TurboTax self employed version of TurboTax, and self employed is only found online, we have the home and business on the desktop version, the TurboTax or self employed is only on the online version, so expense Finder is found in the less complicated or the simple version of self-employed.

When you get to more complicated items, you won’t find that expense finder there, but certainly for those simple tax returns, self simple business matters, you can go ahead and import your banking information, and all your expenses will go through your account and track through to see what those expenses are.

You can easily go through and delete it if you have to, but that expense Finder is great for those self-employed individuals who are a little not sure that what considered expenses would be, so Turbo Tax is going the distance to accept to help those people in those situations, so without further ado, what I’m going to do now is that I’m going to go ahead and start.

We’ll start with the self-employed, we’ll start for free, and then it’ll get here, it says great, let’s start by getting to know that I have my first name, the date of birth, and then we’ll take a look at that it says thanks, and in case you are wondering that we’re turning 32 this year, they are a lot of tax returns this year.

How are you feeling about doing your taxes? I feel very good, and then they say that we love helping people do their taxes, last year 31 million people filed with us fantastic, so we’ll go ahead and click continue, and I’m going to do that now, let’s talk a bit about your life what is your matter of status? I’ll say single wheeling, keep it simple.

I have got my zip code listed there, I’m not going to put any dependents or that I’m a college student or that I own the home, I want to keep it simple, I’m going to say that I rent it, if any of those items apply, I would have checked there, but I’m going to keep it simple.

Let’s get an idea of your financial picture, if you have a job, you will select there you have, if you have bank account interest, you will select that I’ll pay student loans, you will select that college expenses, you will select there and so on and so forth, but because I want to keep it very simple, so we can get that expense finder to come up so that I can give you a snapshot of what that’s like.

I’m going to keep it relatively simple, and I’m going to scroll down and continue, now let’s find out more about yourself employment, I’ll say that I have paid contractors and I’m going to keep it real simple, but if you’re not sure, you can go ahead and click on there, and I’ll tell you.

Here’s some extra info to help to see if these situations apply, now pay it employees, so you can walk your customer through these self-help options, but we’re going to keep it brief, because the objective here is to show you how the expense Finder is generated, so we’ll go ahead and click continue.

Let’s get a big jump start on your tax, it’s going to import all that beautiful information, and this is a great start, and you can always confirm or update this information later, we’re ready to dive into the details and copy your taxes together, we’ll go ahead and click continue, and it’ll bring us to the personal info session page.

Now you notice here, now this is the simplified version that we’re in, we have some information within that imported over any complex schedules and so on, it will have put us in the business edition if you will have seen business up here, where you see here personal info federal taxes state taxes review or file.

If we will have seen business after personal info, we will have known that we are in the complex version of self-employed, but here it is populated to the simplified version, and we can go ahead and get that expensive finder on this particular return, so we’re going to go through personal info.

We’ll say that all of that information is correct, because we want to go through here, and we’re not going to add anything, we want to get to the nuts and bolts of that expense minor 1099, we’ll go ahead and start there, so do you have any self-employment income or expenses? We say yes, as for work description I’ll say accounting.

We’ll go ahead and continue, we’ll say that we have these at one at a time, pick one for now and we’ll get the rest later, we’ll say 1099 and we’ll go ahead and continue, who paid you? I’ll say a count squat payment baby, we’ll say that they have one output thirty to sixty six sixty two, I’ll put something there.

Let’s see two four seven two four six and in box 7, so we have our 1099, I’ll say $82,000, and then we’ll continue, do you have any more income? I’ll say no for now, because we want to make it simple, we’ll get your expenses, so first let’s get some basic information about your accounting work.

We’ll say no name for the business, if there is we will enter that, keep simple, do you use your home address for your accounting business? I’ll say yes, let’s look up the business code, I’m going to put the generic code in there, I do this work all year, and tell us if you have any of these less common situations, none of these applies.

I’m going to keep it simple for the purpose of showing you, so let’s get cracking on expenses for your accounting work, this is where we want to be, let’s go ahead and click continue, we know that figuring out expenses is a pain and pointing them does most of the work for you, let’s go ahead and let’s try importing.

So we’ll go ahead, I’ll say my bank, you can enter the bank here, which bank or credit card that you use for your work expenses, you can enter it here, but I’ll say chase, I’m going to answer the username here, I’m going to go ahead and sign in, and once it pulls through, what your half is that they’ll tell you how much money is in your account, obviously I’ve deleted that.

Then this is what it’ll tell you, so here you have got all the categories, which are dominating this pie chart, then we have vehicle legal, and professional has some advertising in there, we have some utilities in there, so it breaks it down and then you can go into all of these, you can click start and go through all of them.

So that’s what we’re going to be doing today, so we’ll go ahead and say that we’ve done, we’ll import for now, that’s fantastic, so that’s how you go ahead and complete that in that expense binder, so I’m going to close it out here, and we’ll pick up on the other side.

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