Filing Self Employment

United States

#1 Jan 27, 2014
I worked for myself this past year and I was wondering what I need to take in to file self employment and where to go. Anyone know

Keavy, KY

#2 Jan 28, 2014
These are questions you should have been asking a year ago.

Pick a tax preparer or bookkeeping service. I have no advice on which one but pick someone who has been in the business for a while and operates year round. You need more than the normal person HR Block hires as they may have little experience and may not be trained for self employment taxes. They may have no experience at all, just the training, and they may not do business taxes at all.

What you need to take are receipts for business expenses -- you have kept them haven't you? Did you use your car for business and did you keep mileage records for the miles driven? I hope you kept records on how much you earned. Did you have employees you paid to help you? If so, you may well have problems there with not having made quarterly employee tax deposits. You may also run into issues with not having made estimated tax payments for your tax liability on your earnings. Was you self employment income from sales? If so, did you get a sales tax number? Were you making the sales tax payments to the state?

You need advice from a professional and not the "experts" you'll find in these forums. Ignore anything you're told that doesn't involve finding someone who knows what they are doing. That person needs to get full details of what your business was and how you operated. Do this quickly. You need to find out how bad a hit -- if any -- you will take this year. You also need to find out what you need to be doing for next year so you don't have this problem in another year.

Good luck.

If you want to stay out of trouble with IRS/KY Dept Rev you need to have an organized record keeping system and discipline to follow the regulations. Small businesses often fail and one of the main reasons is problems with the tax people.

Clay City, KY

#3 Jan 28, 2014
Thank you so much for the advice Kay. You are very kind. Thanks again. :D
rufus fudpucker

Puyallup, WA

#4 Jan 29, 2014
Just use any tax service that says they will get you a refund even though you might owe tens of thousands of dollars to the irs. Just act like you don't speak english , look and act stupid. That ought to do it.

Corbin, KY

#5 Jan 29, 2014
Go for it

Orlando, KY

#6 Jan 29, 2014
who wrote:
I worked for myself this past year and I was wondering what I need to take in to file self employment and where to go. Anyone know
try using turbotax. it is free and only charges you $20 to efile and they claim all responsibility for your tax preparation. you will get your money just as fast as these tax services will. guaranteed

Keavy, KY

#7 Jan 29, 2014
Photographer wrote:
Thank you so much for the advice Kay. You are very kind. Thanks again.:D
Hutch tax service in pineville is great

London, KY

#8 Jan 30, 2014
Not saying you are A liar but most people that claim they have been self employed all year and then act like they do not know where to go seems a little fishy.A business person would KNOW exactly what to do.
tax payer

Keavy, KY

#9 Jan 30, 2014
there are a lot of legit people out there that does file self employment and does it the right way, but there are so many that hasn't worked a day in their life and files self employment with a minor child and gets 3 times more money back then I do. it really makes me sick that the hard working people has to pay for deadbeats like that. these tax places should require the proper documents proving what a person made, but all a person has to do is go in with a minor child to claim and throw out a number and get thousands. no documents required. these tax places should be held liable for it.

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