Hi, I am self-employed and have some questions I was hoping I could get help with. I recently quit my regular day job and will just be working on my self-employed/gig work/contract jobs full time (which I have been doing as a side job for years). I converted a home office space that I didn't claim previously.
1. I will have start-up costs for the home office/full-time conversion. I started setting the office up in October but didn't get it completed until February. Do I claim that on this year's return or next? Also, will I need to do depreciative value on my desk and laptop and how do I figure that? And I had to have new windows put in that room, will I be able to claim those as well?
2. I imagine I will have to start paying estimated tax payments and have no idea how to do that. Can I just log in on Turbo tax and send them? And what percentage of my income do I need to save for that? I should be around 30k a year.
3. I know I can get a deduction for the "employer" half of my tax bill, but am not sure when or where or how to claim that.
4. Also I understand I will be getting a 1099 from Paypal after this year. But I get 1099s from each company I contract with already - how do I make sure I'm not making duplicate payments on the same income?
