Freelancing Taxes Made Easy

The only things that are guaranteed in life are death and taxes.  And lucky for you, it’s tax season.  Whereas most of the workforce has it easy when it comes to filing taxes (well, easier), you may find that you don’t know where to begin if you are self-employed.  Before you throw in the towel and try to convince your dad to do them for you, try these online tools to make it easy to do it yourself.

 

1)     IRS Self-Employed Tax Center

With everything from information on tax forms to reporting responsibilities, the IRS small business and self-employed tax center is the first place you should visit if you’re feeling lost.  Check out their A-Z guide for small businesses if you have a particular question in mind, or browse through some of their other helpful links to get started.

Cost:  Free

 

2)     Intuit Quickbooks Self-Employed

If, like me, your brain shuts down at the sight of numbers, Intuit Quickbooks Self-Employed has your back. Track your expenses and income online throughout the year, as well as set aside money every quarter to go toward taxes with this handy software.  Their mobile app makes tracking expenditures on-the-go easy. At the end of the year, just export your Schedule C to services like TurboTax to make filing simple.

Cost: $10/mo-$17/mo

 

3)     GoDaddy Bookkeeping

In a similar vein, GoDaddy Bookkeeping provides another great all-in-one option.  Use it to log your time, mileage, receipts, income, and expenses.  Create invoices and estimates within the platform, and easily check whether an invoice has been paid or viewed.  All of your transactions will be categorized along Schedule C lines too. 

Cost:  $10/mo with your first month free

 

4)     Shoeboxed

Shoeboxed is here to save you from the hassle of keeping up with receipts throughout the year. Upload your receipts to the app and organize by category, whether they’re “deductible,” “reimbursable,” or “I’m not sure,” and if you need to find a particular item, they’re searchable. The app also allows you to track mileage using your phone’s GPS.  Go ahead—you can feel good about tossing those receipts in the trash.

Cost:  Tiered pricing plans, from $10/mo-$50/mo

 

5)     TaxAct

TaxAct is another service that helps you report your income and expenses, with the added benefit of importing stock and investment information (because who doesn’t want it all in one place?).  With the premium version, you can transfer important information from the previous year’s tax return and import information from returns prepared by H&R Block or TurboTax.

Cost:  Free-$30

 

Do you have any tips and tricks when it comes to filing your taxes as a self-employed worker?  Let us know in the comments!