How to file self employment tax

how to file self employment tax

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Log onto the internet and open the Internal Revenue Service Web site. The IRS offers taxpayers an approved list of online tax providers available to use for electronic filing. Choose the online tax provider you would like to use to electronically file your tax return.

Click on the name of the online tax provider of your choice. Your computer will be directed to the site of the online provider you chose. Each of the available sites will ask you questions regarding which return you will be filing.

Using the prompts provided by the online tax site, enter the information that applies to your tax return into the available boxes. Online tax provider sites do the adding, subtracting and figuring of numbers for you so that your only job is to enter the required information. The online tax site

will ask you to enter your income tax information, such as wages, salaries, taxable interest, business income or loss, annuities and dividends. Other information that the prompts will ask for is any applicable credits, such as figuring out if you have any child tax credits, earned income credits, child care credits or retirement savings credits. The information that the site asks for is not all mandatory, you may qualify for some credits and not others, but the site will figure out what you qualify for and how much based on the income and personal information you enter.

Carefully go over each bit of information you enter onto your Self-Employment Tax Return. Check for mistakes before clicking on the "Submit Tax Return" button. Your return will be electronically received by the Internal Revenue Service. Print a copy of your tax return to keep with your records.


Category: Taxes

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