All questions about self-employed people on a W-9 using TurboTax

[michaelmoura]

I work as a contractor on a W-9, am I considered self-employed? I work 40 hours a week on a contract basis.

How do tax deductions work? Do I need to keep all receipts?

• Can I deduct my rent from the taxes?
• Can I deduct my internet bill from taxes?
• Can I deduct utilities bills from my taxes?
• Can I deduct phone bill from my taxes?
• Can I deduct Health Insurance/Vision Insurance/Dental insurance from my taxes?
• Can I deduct Individual Retirement Accounts (IRAs) from my taxes?
• Can I deduct Office Material from my taxes?
• Can I deduct the purchase of gadgets such as Laptops from my taxes?
• Can I deduct Car gas from my taxes?
• Can I deduct Car insurance from my taxes?
• Can I deduct Groceries/Food expenses from my taxes?
• What else are popular expenses people can deduct from their taxes?

How’s the amount that I need to pay each Quarter calculated?

Is there a subscription option on TurboTax that’s most beneficial for self-employed people?

How do I use TurboTax to keep track of dates I need to file taxes and can be organized with all receipts I need to upload using TurboTax?

Since I need to file taxes Quarterly as a self-employed, does that mean I need to pay TurboTax fees 4 times a year?

Do I get any refund at all from these Quarterly tax filings?

[xmasbaby0 · Accepted solution]

If you have self-employment income for which you will pay self-employment tax for Social Security and Medicare,  you will need to use online Premium software or any version of the CD/download so that you can prepare a Schedule C for your business expenses.

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https://ttlc.intuit.com/turbotax-support/en-us/help-article/form-1099-nec/1099-nec/L5qTsBiSe_US_en_U...

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https://ttlc.intuit.com/community/self-employed/help/what-is-the-self-employment-tax/00/25922

https://ttlc.intuit.com/questions/2902389-why-am-i-paying-self-employment-tax

https://ttlc.intuit.com/questions/1901340-where-do-i-enter-schedule-c

https://ttlc.intuit.com/questions/3398950-what-self-employed-expenses-can-i-deduct

https://blog.turbotax.intuit.com/self-employed/self-employed-tax-deductions-

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https://ttlc.intuit.com/questions/1901110-do-i-need-to-make-estimated-tax-payments-to-the-irs

https://turbotax.intuit.com/tax-tools/calculators/self-employed/