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Get your taxes done using TurboTax

This activity will require you to use a Schedule C on your tax return. You do not need to register with the state of Florida unless you wish to be a sole proprietor Limited Liability Corporation (LLC). 

 

Below is the link to the Florida website to register to be a LLC if you choose to do so.

 

https://www.floridaregisteredagent.com/state-landing-page/?gclid=CjwKCAjw67ajBhAVEiwA2g_jEB7w6NsTdGL...

 

Schedule C net income (income less expenses) will be your taxable amount for self employment tax. Self employment net income tax is 15% (7.65% is personal tax; 7.65% is matched as a business deduction).

 

You may or may not owe tax federal income; but, you will always pay self employment tax unless you have a loss on your Schedule C.

 

I am giving you a link to test what your tax liability might be at the end of the year. You will be able to include your social security income in this tax projections.

 

https://turbotax.intuit.com/tax-tools/

 

Please look at a Schedule C and become acquainted with the categories to track during the year.

 

https://www.irs.gov/forms-pubs/about-schedule-c-form-1040#:~:text=Use%20Schedule%20C%20(Form%201040,....

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