Choosing the right product depends on the tax forms and the nature of the business you are operating.
QuickBooks Self-Employed works for freelancers who track their income and expenses, as well as calculate and pay estimated quarterly taxes. For sole proprietors who want to differentiate personal and business accounts and using their home office, this program can help sort things out.
While QBSE only provides basic accounting and reporting, you can check out and use QuickBooks Online. It provides a robust accounting program with complex reports and features for C-corp, S-corp, Partnership, or multiperson LLC's.
To help you review what subscription to have, check out the following links:
I have a full time job and have a home-based business. Can I use Self-Employed Turbo-Tax for both?
I am also curious about using this software for a home-based business. I have a sole proprietorship where I provide a service and I also have a full-time job. I have increased my withholding at my full-time job in an attempt to offset the taxes I would owe due to the sole proprietorship. I am wondering if the self-employed software would be able to consider the full-time job income and tax deductions and still calculate estimated taxes for the sole proprietorship.
First of all, thank you for your interest in QuickBooks.
QuickBooks Self-Employed (QBSE) is the best version of QuickBooks that suits you. This is a tax software that helps freelancers, like you, tracks incomes and expenses. Also, it calculates and pays estimated quarterly taxes.