Vanessa A
Employee Tax Expert

Retirement tax questions

Do you want to take the deduction for the taxes you paid for employees or for the taxes you paid for yourself?

 

If you are filing your business taxes and want to deduct the taxes you paid for employees, you would report these payroll taxes by selecting the following:

  • Federal
  • Income and Expenses
  • Edit next to your business
  • Add Expenses 
  • Scroll down and click show more until you see Taxes and Licenses and click Add Expense

 

Self-Employed Individuals do not pay Disability or Unemployment taxes on themselves in many states, so these entries would if paid for yourself would depend on your state.  

 

The Social Security and Medicare Taxes that you paid in would be entered by selecting the following:

  • Federal
  • Deductions and Credits
  • Scroll down to Estimates and Other Taxes Paid and Click Show More
  • Estimated Tax Payments
  • Click yes, when asked if you made estimated payments
  • Then select the types of tax payments made
  • then Enter your payments and date of payments

When you file as a self-employed individual, the Social Security and Medicare taxes are part of your overall tax liability so their is not a distinction made between SS and Medicare versus your regular federal tax payments. 

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