Tax Tips for the Self-Employed

Posted by Jeremy Wascak December 18, 2019 Categories: Taxes

Whether you’re a seasoned business owner, newly self-employed or testing out a side-gig, TurboTax has you covered on tax tips, deductions, and tax forms for your business income. 

Below, we break down common write-offs for different types of self-employment situations:

Rideshare Driver - Car repairs, insurance, mobile phone, even bottled water you provide for your fares.

Freelance Designer - Studio rental, tools & supplies, design association fees, home office space.

Real-Estate Agent - Marketing materials, mileage, home office space, even portions of real estate taxes, mortgage interest, rent, utilities, insurance, etc.

Consultant - Training courses, computer and software, business travel, mileage driving to see a client, heading to a meeting, or going to work from another location.

 


TurboTax Self-Employed Has You Covered

TurboTax helps you get every self-employed tax deduction and dollar you deserve.  Get expert help on demand, find industry-specific tax deductions – and get your biggest possible refund, guaranteed. As a credit union member you can save $15 on the TurboTax Self-Employed product, PLUS you get a one-year complimentary subscription to QuickBooks Self-Employed* to effortlessly track expenses, jobs and mileage throughout the year. Click here to access TurboTax and your savings!

 

 

 

*QuickBooks Self-Employed Offer with TurboTax Self-Employed and TurboTax Live Self-Employed: To receive your complimentary subscription to QuickBooks Self-Employed through 4/30/21, you must pay for your 2019 TurboTax Self-Employed or TurboTax Live Self-Employed return by 4/15/20 and sign-in and access your QuickBooks Self-Employed account via mobile app or at https://selfemployed.intuit.com/turbotax at least twice by 7/15/20. You will have the option of renewing your QuickBooks Self-Employed subscription by 4/30/21 for another year at the then-current subscription rate. You may cancel your subscription at any time from within the QuickBooks Self-Employed billing section. See QuickBooks.com for price comparison. Offer not valid for existing QuickBooks Self-Employed subscribers already on a payment plan.