Hi everyone, this is my first year filing self-employment taxes. Any advice on whether or not I should hire a tax accountant or just do them myself? It seems so intimidating and I don’t want to mess it up.
Self employment taxes
Search
Article Categories
Recent Articles
- The Value of a Traditional Job vs. Entrepreneurship April 2, 2025
- The Evolution of Direct Selling & Impact of the Gig Economy April 1, 2025
- April 2025 Newsletter April 1, 2025
- The Importance of Thinking Differently March 3, 2025
- March 2025 Newsletter March 1, 2025
Entrepreneur Magazine
- Trendy Wellness Perks Do Not Tackle The Root Cause of Employee Stress — These Steps Will April 2, 2025Avoid one-size-fits-all solutions and listen to your employees to identify the true causes of stress.
- Amazon Just Submitted a Bid to Buy TikTok, as AppLovin and Other Tech Companies Make Offers Before the Looming Deadline April 2, 2025President Donald Trump wrote earlier this year that he wants the U.S. to have a 50% ownership stake in a joint venture to own TikTok.
- President Donald Trump Announces 'Kind Reciprocal' Tariffs for 'Liberation Day.' Here's What We Know. April 2, 2025The tariffs were announced at the "Make America Wealthy Again" event in the Rose Garden at the White House.
If you aren't feeling comfortable you should hire a tax person. Depending upon the size of your business, it may become more difficult/ Do you have employees? If not, it may be more straight forward then you think.
You need to file a SE form. Hopefully you've kept track of all the expenses throughout the year because you can deduct them. Things like utilities, rent, supplies to run daily operations, gas mileage, medical insurance, etc. My suggestion is to use each and every single thing you can come up with to use as a deduction. That will be deducted from your overall gross earnings and leave you paying less in taxes, might even result in getting some money back possibly!
Go to the IRS website to find answers too. They're pretty good about offering directions for every form.