TurboTax Self-Employed is an excellent choice for anyone working independently or running a small business. With features like automatic expense tracking, integration with QuickBooks, and expert guidance, it simplifies the complexities of self-employed tax filing. Whether you’re filing your taxes for the first time as a freelancer or have been self-employed for years, TurboTax Self-Employed provides the tools you need to file accurately, maximize deductions, and get the best possible return.
Freelancers: Those who take on contract work or gigs.
Independent Contractors: Those who provide services but are not considered employees.
Small Business Owners: Those who own and operate their own business.
Gig Workers: Those who earn income from platforms like Uber, Lyft, or Fiverr.
Start by creating a TurboTax account or logging into an existing one.
TurboTax Self-Employed will guide you through entering your income, whether it’s from 1099 forms, gig work, or cash payments.
You’ll enter your business expenses, which can be categorized automatically by TurboTax. You can also sync with QuickBooks Self-Employed for automatic import of expense data.
TurboTax will ask specific questions related to your business, income, and expenses to ensure you’re maximizing your deductions.
The software will automatically calculate your self-employment tax and let you know if you need to make any estimated quarterly payments.
TurboTax will review your return, calculate your refund or taxes owed, and help you e-file with the IRS and state tax agencies. If you prefer, you can print and mail your return as well.
Accurate Reporting: Ensure accurate business expense and income reporting.
Maximize Refund: Identify eligible deductions and credits.
Time-Saving: Streamlined process reduces preparation time.
Security: Encryption and two-factor authentication protect data.
Audit Protection: Free audit support and representation.