Taxes for the Self Employed and Sole Proprietors

Income Tax

If you work for yourself, and haven't created a separate business structure like a corporation or partnership, than business profits are taxed with your personal taxes. This is done with form Schedule C - we'll create this for you

Estimated Taxes

Because you work for yourself and you aren't getting a paycheck with taxes already withheld, you must make regular payments to the IRS on the profits you earn. These are called estimated tax payments - we'll calculate these for you

Self Employment Tax

In addition to paying income tax on those profits, you must also make required contributions to both Social Security and Medicare. The contributions are called the Self Employment tax - Sorry, we won't pay this for you

Managing Contractors and Tax Forms

The burdens don't end there; if you have contract or freelance professionals, you need to request taxpayer identification (done with form W-9) and file form 1099-MISC on their behalf. Don't worry - we'll take care of these for you

Outright.com will help

Outright helps you stay on top of important tax dates with our tax calendar. We'll help you calculate how much to pay in self employment and estimated taxes, manage contractors, and even track your deductions for your Schedule C.

Want to see Outright's tax features in action? Check out the tour

If you're earning money while working for yourself, and want the easiest way to stay on top of your business taxes, give Outright.com a try.