If you own a business that deals in goods and services subject to excise tax, you must prepare a Form 720 quarterly to report the tax to the IRS. If you've purchased property to use in your business, you can deduct a portion of your costs by claiming a depreciation deduction and reporting it on IRS Form 4562. Certain employers whose annual payroll tax and withholding liabilities are less than $1,000, might get approval to file the annual version-Form 944. You must file IRS Form 941 if you operate a business and have employees working for you.

But if you are self-employed or make money on your investments or rental property, you may need to make estimated tax payments every quarter, rather than wait until you file your annual tax return. Usually, that's enough to take care of your income tax obligations. If you are an employee, your employer withholds income taxes from each paycheck based on a completed W-4 Form. TurboTax will show you the money-saving tax deductions you can take as a small business owner. Subscribe and receive all Small Business Taxes

Turbotax for s corporation 2015