Get your taxes done using TurboTax

You have not told us whether you are a sole proprietor or if the business is an Scorps, Ccorps, or multi-member partnership.  The tax advice will be different depending on that information.   

 

If you are a sole proprietor, you are self-employed, and will be paying self-employment tax for your own Social Security and Medicare, as well as ordinary income tax.  You will be able to use online Self-Employed software to prepare your tax return, or any version of the CD/download---you will need to complete a Schedule C for your business expenses.

 

https://ttlc.intuit.com/questions/2926899-how-does-my-side-job-affect-my-taxes

 

https://ttlc.intuit.com/community/self-employed/help/how-do-i-report-income-from-self-employment/00/...

 

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://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/

 

 

Provide some details so someone can be more helpful.   And...the suggestion to seek local professional advice was a good idea since you are new to starting a business.

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**