Self employed filing how to get refund

Forum|Forum|3 years ago
February 12, 2023
2 replies
12 views

How can I get money back and not pay tax

TurboTax Live Self Employed

JohnB5677

Level 15

You are self-employed; therefore, you can reduce your income by taking authorized expenses to offset your income.

Taxes are complicate, so we can't simply give a number and tell you when you will get a refund. However, if your only income is self-employed, and you didn't pay any taxes for that income, you will not get a refund and you probably will owe taxes.

Because you are self-employed, not only will you be subject to Income Taxes, but you will also have to pay Self-Employment taxes.

The self-employment tax rate is 15.3%. That rate is the sum of 12.4% for Social Security and 2.9% for Medicare.

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"

sholland13

Level 2

Pay your taxes in throughout the year just like you would if you were employed by someone else may help or atleast make it where you won't owe anything when filing your taxes.