The basic steps for preparing a business tax return are:

1. Start a new return by clicking New Return from the Tax Returns tab or the Dashboard.

2. Select the Return Type (Partnership or S Corporation) from the drop-down list.

3. Enter and re-key the Business EIN for the return in the Create New Return dialog box and click Go To Tax Forms.

4. If the package does not have a Main Information Sheet, fill in name, address, and other entries at the top of the primary tax form. Otherwise complete the Main Information Sheet. The information you enter on the main form carries to all other applicable forms.

5. If you are preparing state return(s) in the Business and Specialty packages, answer the required question about a state return/estimated tax.

Once you answer Yes, TaxWise adds the State/Est form to the forms tree. Select the applicable check box on this form for the state you want to file. TaxWise will add the state forms to the return. If estimated tax payments were made, enter this information as well.

6. In the 1120S and 1065 packages, complete the Trial Balance Worksheet, if you have this information and want to use it. Use of the Trial Balance Worksheet is optional.

7. Complete any other tax forms necessary for the return. TaxWise calculates totals from supporting forms and schedules and transfers the information to the primary form for the package.

8. Review the list of forms for incomplete forms and accuracy.

9. Review state forms for completeness and accuracy.

10. Add a Client Letter to the return (optional).

11. Review the Price Sheet for accuracy.

12. In the applicable tax packages, answer the question Do you want to file this return electronically?

13. Once you have entered all information on each form, click the Diagnostics button.

14. Diagnostics looks for inconsistencies in tax return information and checks for e-filing errors in the package. If there are no e-filing errors you can create the e-file at this time.

15. Make corrections, if needed.

16. Create the e-file. (Can be done at this point or later.)

17. Print the return. (Can be done at this point or later.)