1648009
You'll need to sign in or create an account to connect with an expert.
Your are posting from Self-Employed--it is likely that you owe self-employment tax for Social Security and Medicare, and possibly ordinary income tax as well. Did you pay estimated tax during the year?
We cannot see your tax return or your account. We do not know what you have entered or what deductions or credits you might be eligible to use. Did you enter your business expenses on your schedule C?
Your business expenses are separate from any deductions you might enter on a Schedule A; you should be looking at the section for credits and deductions to see if you missed anything. You can only itemize deductions on a Schedule A if your itemized deductions exceed your standard deduction.
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://ttlc.intuit.com/questions/1901110-do-i-need-to-make-estimated-tax-payments-to-the-irs
If you will not be able to pay your tax due by the July 15, 2020 deadline, you can apply for a payment plan with the IRS:
https://www.irs.gov/payments/online-payment-agreement-application
we can't see your return so it is unknown whether you missed or can add any deductions or credits. check your input. for an additional fee you can upgrade to Live to have a CPA or an EA review your return. there is no guarantee that they'll come up with anything or if they do that it won't cost more out of pocket than taxes you save.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
lisaplunkett1128
New Member
starkyfubbs
Level 4
abigailr2005
New Member
JTMyers8642
Returning Member
afernandezcmu
New Member