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I'm a sole proprietor, one-man LLC. I just started a home inspection business and want to track my expenses and eventual income.
I'm also employed as a home inspector part time for another one person LLC- I'm being paid through QuickBooks Workforce for that work.
I have my business name as the log in/account for the workforce paycheck. I also have a personal Intuit account for turbotax.
What product would be best for me? Do I want "self-employed", "Solopreneur?"
Do I build it off my personal account? Use my business email account?
You have more than one "business" to manage, correct? Why don't you consider QB Desktop Pro Plus or Premier Plus to manage multiple "company" files? One QBO/QBSP account is for one "company" file.
I’m only managing the one company. It does get a paycheck/income stream into the business checking account and I’ll have a w2 from that work that I’m doing for another inspector. But I will also have income from my own company soon.
I did more research. Technically I’m an employee for the other inspector. W2, tax withholding etc. I’ll switch that income to deposit to my personal account and treat that as income. Then my own business will just be a sole proprietorship and I’ll keep them separate.
You're right, Zimmerman. You need to separate the two. I'm here to share which version is best suited to your needs.
QuickBooks Solopreneur is specifically designed for one-person businesses, whether or not they use 1099 contractors. It provides user-friendly tools for organization, tax management, and business growth to promote financial stability. By connecting your bank or credit card account, QuickBooks Solopreneur automatically categorizes transactions into predefined categories for easy review. The tax filing features included are tailored for Schedule C (form 1040) filers, mainly applicable to sole proprietors or single-member LLCs. If you require the ability to customize your chart of accounts, QuickBooks Simple Start offers this functionality.
Please check this article for more information: Introduction to QuickBooks Solopreneur.
When it comes to managing your W-2s and tax withholdings, QuickBooks Online (QBO) is a great solution. QBO offers a convenient payroll add-on that can help you efficiently handle the entire payroll process. This cloud-based accounting software is a valuable tool for small and medium-sized businesses, allowing them to effectively manage their financial transactions and streamline their overall accounting processes.
As for which email account to use, you can use any email except for the one associated with your workforce and TurboTax account.
Additionally, you can refer to this article for guidance on submitting your tax forms: File your W-2 and W-3 forms.
Let us know if you have other concerns about QuickBooks versions. We'll be here to help you.
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