What do you like best?
Turbo tax is best used by taking time to study all the angles it gives to you. I used their more complex corporate tax reporting package, and this involves you in a number of ambiguous decisions regarding how to report income and expenses. You need to understand the answers that you are providing in order to be confident of the return that Turbo Tax will prepare for you.
What do you dislike?
The undeniable problem with TurboTax Corporate is that it does its own comparisons of the income statement and balance sheet that you give it this year, with the income statement and balance sheet you gave it last year. You do not see how it is connecting the two, or what exactly it is comparing on the two even though it does store these reports line for line. If TurboTax feels there is a discrepancy between these two year end reports, then it will reject your current year entry without telling you how to fix it. This is a REAL headache that required a good deal of guesswork and trial and error. The result, when accepted by TurboTax, may be "correct", but it is not transparent to the user.
Recommendations to others considering the product
Anyone who does the books for a business should be able to navigate using TurboTax Business. However, you must understand your own income statement and balance sheet, and you must have good records for the previous year.
What business problems are you solving with the product? What benefits have you realized?
It cost me $250 for this program, and I saved $2,500 in accounting fees. In addition, I felt I fully understood 'the tax return and the options available to me in filing the return in different forms. This is very valuable. On the other hand, the return that Turbo Tax produced was audited by the IRS because of something that the IRS felt was incorrect. The problem was not in the numbers, it was in the schedules on which I chose to report certain income. Because I purchased the TurboTax Audit Guarantee Service I was able to have TurboTax's representative (actually a third party insurer) resolve this problem with the IRS. It turned out that the IRS was wholly in error, though I might have reported the income on a different schedule and avoided their scrutiny. TurboTax did not guide me on the correct path in this case, but I suspect that it could not have. I still think TurboTax is great and would not hesitate to use it again.