How does my side job affect my taxes?
Even if it’s just something you do on the side, like drive for Uber, babysit, or blog, you're considered self-employed.
Your taxes are handled differently than when you're an employee of a company.
As a self-employed individual you:
Will pay self-employment tax (because income tax, Social Security, and Medicare aren’t deducted from your pay)
Will get a 1099-MISC, 1099-NEC, or 1099-K (unless you only accept cash or personal checks)
File a Schedule C, Form 1040 (this is how you report business expenses or loss of income)
Can deduct money you spent on work-related expenses (like mileage, home office expenses, and mobile phone use)
Can estimate the taxes that are due and make quarterly estimated tax payments during the year
Get started by entering your income from self-employment. We'll handle the rest, from creating the forms you need to reviewing work-related expenses that can help reduce your taxes.
