With the current COVID-19 situation, we know these are difficult times for both self-employed individuals and small businesses. In an effort to support and empower our self-employed community, we’re sharing step-by-step guidance on how to easily file your self-employed taxes with TurboTax Self-Employed. We’re here to help you understand the new tax changes and keep you informed about what the Coronavirus relief bill means for self-employed taxpayers.
If you’re self-employed, TurboTax Self-Employed will ensure that you’re ready for Tax Day on July 15th (this year’s extended tax deadline) and help you with any other tax needs you might have, year round.
In partnership with Create & Cultivate and full-time mom, entrepreneur and DJ, Lindsay Luv, we’re sharing #SolopreneurTaxTips to teach you the ins and outs of self-employed taxes and help you file confidently with TurboTax Live Self-Employed. Check out all the tax tips and advice we’ve pulled together for you, below!
If you’re self-employed, don’t forget that you are required to pay quarterly estimated tax payments if you expect to owe $1,000 or more annually for your taxes. TurboTax Live experts are available year-round to answer any questions you might have and help you plan your quarterly taxes.
To figure out your estimated tax payments, you’ll need to track your income and expenses. QuickBooks Self-Employed helps you track your business income, expenses and mileage year-round, and you can then easily export your information to your TurboTax Self-Employed tax return. TurboTax Self-Employed will uncover industry-specific deductions that can help you get every dollar you deserve and save more money for your business.
Don’t sweat it, if you still have tax questions — you can connect live via one-way video to a TurboTax Live Self-Employed CPA or Enrolled Agent with an average 15 years experience to get your tax questions answered and get the self-employed tax advice you need. TurboTax Live CPAs and Enrolled Agents are available in English and Spanish and can even review, sign and file your tax return for you.
Join the conversation — use #SolopreneurTaxTips to share your own personal #solopreneur tax and financial journey!