If you work for yourself, and haven't created a separate business structure like a corporation or partnership, then business profits are taxed with your personal taxes. This is done with Form Schedule C - we'll create this for you.
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.
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.
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 will help you calculate how much to pay in self employment and estimated taxes, manage contractors, and even track your deductions for your Schedule C.
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.