Self-Employed & Freelancer Tax

If you expect to owe $1,000 or more when you file, the IRS generally expects quarterly estimated payments. We calculate amounts that keep you clear of underpayment penalties.

It is the Social Security and Medicare tax for people who work for themselves, charged at 15.3% on net self-employment earnings up to the Social Security wage base, in addition to income tax.

It depends on your profit level and state. An S corporation election can reduce self-employment tax once profit is high enough to support a reasonable salary. We run the numbers for you.

Yes, if part of your home is used regularly and exclusively for business. You can use the simplified method of $5 per square foot for up to 300 square feet, or deduct a share of actual home expenses. We calculate which gives the bigger deduction.

Either can work, but you need records for both. The method you choose in the first year you use a vehicle for business can limit your choices later, so it is worth deciding carefully.

Usually yes. Self-employed people can generally deduct health insurance premiums for themselves and their family if they are not eligible for an employer-subsidised plan.

A SEP-IRA is simple to set up and run. A Solo 401(k) often allows larger contributions at moderate income because you contribute both as employee and employer. We compare both for your numbers.

Keep receipts, invoices, bank statements and a mileage log. A separate business bank account makes record-keeping, and any future IRS question, much easier.

Fees depend on the forms involved, the number of states and how organised your records are. After a short consultation we give you a written quote before any work starts.

Yes. Documents are exchanged through an encrypted client portal, and we follow a written information security plan as the FTC Safeguards Rule requires of tax preparers.

Yes. We prepare current and past-year federal and state returns, which is useful if you are catching up or amending.