Self-Employed Tax Preparation,
Without the Stress
Going out on your own can change your tax return more than almost any other career move. Without an employer withholding taxes, you are responsible for income tax plus both the employer and employee portions of Social Security and Medicare, often through quarterly payments instead of one payment in April. Self-employment also creates valuable opportunities to reduce what you owe through deductions and retirement strategies, including home office expenses, vehicle costs, self-employed health insurance, and a retirement plan you control. Schedule C filers benefit from year-round planning, and the owners who get the best results treat taxes as an ongoing series of decisions, not a form completed once a year.
Our office is located at 12305 Gold Street in West Omaha. Self-employed individuals choose us because they know the price before work begins and communicate directly with one credentialed professional throughout the process, rather than a seasonal preparer. Your return is prepared by a CFP® professional, CFA® charterholder, and Enrolled Agent who responds promptly, even during tax season. When your return is complete, you receive a recorded video explaining the numbers, what they mean, and why they are being reported. You do not pay until your return is ready to file.
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Some Situations That Might Apply to You If You’re Self-Employed
You just went out on your own
The first year of self-employment brings changes that catch many people off guard. Income now arrives with no tax withheld, so the withholding your employer once handled is now your responsibility, and the IRS generally expects quarterly estimated payments instead of one payment in April. Missing those payments can trigger an underpayment penalty even if you pay the full balance later. This is also the year when decisions that affect future returns are made, including mileage versus actual vehicle expenses, how to handle a home office, and which retirement plan allows you to save the most. Getting those choices right from the beginning can pay off for years.
You have both a job and a business
Many self-employed people also earn a regular paycheck through a side business, freelance work, consulting, or other 1099 income alongside a W-2. That combination comes with its own planning opportunities. Self-employment tax still applies to the business income, even when your job already withholds taxes, but you may be able to increase W-2 withholding instead of making separate quarterly payments. The business can also create deductions and retirement options that are not available to employees alone. When both income sources are planned together, you are less likely to face a surprise in April or overpay throughout the year.
You are behind on estimates, or filing a Schedule C for the first time
Self-employment tax often arrives before people feel prepared for it. Maybe the first quarterly payment was missed, a penalty appeared, or this is simply the first year a Schedule C needs to be filed. The situation is usually straightforward to fix once someone lays out what is owed now, how to set up future estimated payments under the safe harbor rules, and which deductions can reduce the bill. Falling behind is common, and getting back on track is very manageable.
We also help with related situations, including quarterly estimated taxes, IRS notice help, and HSAs. Or browse every income tax situation we help with.
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