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emily-b2ycs-com
Level 1

New Sole Prop LLC and file as married filing jointly. Solepreneur vs essentials?

I signed up for Essentials but now wondering if Solepreneur would be better and/or are these even comparable? There are so many choices, I'm not sure what plan to choose?
2 Comments 2
Ethel_A
QuickBooks Team

New Sole Prop LLC and file as married filing jointly. Solepreneur vs essentials?

Welcome to the Community Emily.

 

Let me share information about the features and benefits of QuickBooks Solopreneur and QuickBooks Essentials.

 

QuickBooks Solopreneur caters to solo entrepreneurs, whether they employ 1099 contractors or not. It offers user-friendly tools for organization, tax management, and growth strategies aimed at ensuring financial stability. By connecting your bank or credit card account, QuickBooks Solopreneur conveniently sorts transactions into predetermined categories for effortless monitoring.

 

On the other hand, QuickBooks Essentials is an accounting software package that caters to small businesses and offers more advanced features than Solopreneur. It offers advanced invoicing options. It's best for small businesses required to track payments due, assign hours worked to customers, and provide access to up to three users. 

 

In your case, you can use the solopreneur. It can cater your tax-filing needs. The tax filing capabilities included in QuickBooks Solopreneur are designed for 'Schedule C' (form 1040) filers, most commonly applicable to sole proprietors or single-member LLCs. However, if you want a more advanced version, you can also use the QuickBooks Online Essentials.

 

Here are some articles you can read for the features of Solopreneur and other QuickBooks Online versions:

 

 

For future reference, I'm adding this link so you can watch how-to videos of QuickBooks Online: How-To videos.

 

Let me know if you have questions about getting started with QuickBooks Online. I'm always here to help. Have a great day.

Rainflurry
Level 13

New Sole Prop LLC and file as married filing jointly. Solepreneur vs essentials?

@emily-b2ycs-com 

 

What type of business?  Will you have inventory?  Are you preparing your own tax returns?  Do you use TurboTax?  Or, do you have a CPA/tax accountant?

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