Self-Employed | The TurboTax Blog

Self-Employed

Side-hustler to Top Boss? How To Leverage Your Tax Refund To Get Your Business Started

April 23, 2019 April 24, 2019 / Jim Wang

Last tax season, the average direct deposit tax refund was more than $3,000. If you are expecting a tax refund this tax season and you’ve been thinking about starting a side hustle or self-employed business, that kind of money can...

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Self-Employed

Making Money by Streaming Your Gaming Sessions? Here’s What It Means for Your Taxes

April 15, 2019 April 16, 2019 / TurboTaxBlogTeam

Did you know that some streamers make up to $500,000 per month live streaming their gameplay on Twitch, Facebook, or YouTube? While you may not be making quite that much, if you’re a gamer regularly earning any income from streaming,...

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Self-Employed

5 Tools Every Business Should Start With

April 12, 2019 April 24, 2019 / TurboTaxBlogTeam

This article was written by our partner, Square. If you’ve recently started a business, you’ve become accustomed to making decisions every day that affect your business. And with every decision, you’re trying to make it as successful as possible. You...

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Self-Employed

The TurboTax Guide to Avoiding Estimated Tax Penalties

April 10, 2019 April 11, 2019 / Jim Wang

If you’re self-employed, estimated taxes are a part of your business life. This means you may need to send quarterly estimated taxes four times a year (in April, June, September, and January). Your taxes require a different kind of attention...

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Self-Employed

6 Tips to Help Side Hustlers and Self-Employed Bosses Stay On Top of Their Taxes

March 18, 2019 March 19, 2019 / TurboTaxBlogTeam

Drive for a ride-sharing company or sell homemade trinkets on Etsy as a way of pocketing a little extra cash? If you are side hustling on an ongoing basis and your goal is to make a profit you are considered...

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Self-Employed

Snap A Pic of These Tax Deductions Photographers Can Take

March 13, 2019 March 14, 2019 / Jim Wang

One of the most lucrative side hustle businesses to start is a photography business. With the right amount of training and equipment, anyone can be a photographer. There are no licensing rules and few relevant certifications — it basically comes...

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Self-Employed

Train Your Own Gym Clients? Make Sure You’re Snagging These Tax Breaks

March 1, 2019 / Ginita Wall, CPA, CFP®

If you are a personal trainer, you know what it takes to keep your body fit. But what about your self-employed business? Often personal trainers don’t even think of themselves as being in business, but they are. As a self-employed...

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Self-Employed

Is Your Pet Insta Famous? Here’s What It Means for Your Taxes

February 27, 2019 February 28, 2019 / TurboTaxBlogTeam

Does your pooch have more Instagram followers than you do, receive free doggy swag bags and seem to be all-around living his #bestlife? If your furbaby is making money as an influencer, it could be viewed by the IRS as...

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Self-Employed

Do I Need to File a 1040 If I’m Self-Employed?

February 24, 2019 March 6, 2019 / Jim Wang

If you earned a little income on the side, you might be wondering if you still need to file a Form 1040 if you’re self-employed. The simple answer to this question is yes, almost certainly! The threshold requiring you to file a...

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Self-Employed

I Just Became A Self-Employed Real Estate Agent — What Does This Mean for My Taxes?

February 22, 2019 / Jim Wang

Did you become a self-employed real estate agent last year? If so, you now own your own business and can take advantage of a lot of tax benefits related to running your own business. It’s important to realize that becoming...

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