ErnieS0
Expert Alumni

Get your taxes done using TurboTax

Answer the questions as best you can. The IRS considers anyone who is not an employee to be a “business.” It simply means you had no tax taken out of your pay.

 

There is no option for “independent contractor.” They are considered self-employed and owners of their own businesses because they are responsible for paying their own Social Security and Medicare taxes. These will be added to your return as self-employment tax, which you pay in addition to income tax.

 

You can deduct any ordinary and necessary business expenses. The more deductions you can find, the less tax you will pay,

 

For some suggestions see The ultimate guide to tax deductions for the self-employed.

 

@Mtbmike83 

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