I'm wondering if I can use Turbotax for my first year taxes on my startup, or should I use an accountant? Here are the details:
- I'm a newly formed start-up that I work on in conjunction to my day job, incorporated as a S-corp this past June 2011
- I've got little or no 2011 revenue... been in development all this year and have an alpha site up with beta users for about a month in 2011.
- There hasn't been any major expenditures outside technology & office item purchases and paying vendors, and I'm not planning on doing any out of the ordinary deductions
- I'm self-funded, so every penny counts
Aside from the savings of doing both my corporate and personal taxes (I also have a W-2 from my full-time job), it just seems like my taxes should be straightforward /achievable by software like Turbotax. Is this assumption incorrect, or are there other things to consider?