Self employed

Congratulations on starting your own speech practice.    You will not file quarterly tax "returns."   You might want to make estimated quarterly tax payments, which can be done by mailing checks or money orders or by going online to the IRS payment site.

 

All of the combined income you are receiving will go on your personal Form 1040, including the self-employment income.   Unless you have set up the speech practice as an S-corp or C-corps, you are not an "employee"----you are a sole proprietor.   You cannot be your own employee.   If you have, in fact, set it up as an S-corps, post back for further help.

 

 

 

SELF EMPLOYMENT INCOME/“side jobs”

 

 

If you have self-employment income for which you will pay self-employment tax for Social Security and Medicare,  you will need to use online Premium software or any version of the desktop software download so that you can prepare 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/turbotax-support/en-us/help-article/form-1099-nec/1099-nec/L5qTsBiSe_US_en_U...

 

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://blog.turbotax.intuit.com/self-employed/self-employed-tax-deductions-

calculator-2021-2022-50907/

 

https://ttlc.intuit.com/questions/1901110-do-i-need-to-make-estimated-tax-payments-to-the-irs

https://www.irs.gov/payments

 

 

If you live in a state with a state income tax, you might need to make estimated payments to your state.

 

 

https://turbotax.intuit.com/tax-tools/calculators/self-employed/

 

https://ttlc.intuit.com/community/business-taxes/discussion/self-employed-don-t-miss-these-tax-moves...

 

 

 

And....you can still file a joint return with your spouse.  Filing jointly is almost always better.  

 

**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.**