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    allinone's Avatar
    allinone Posts: 76, Reputation: 1
    Junior Member
    		  
    #1

    Sep 1, 2012, 02:15 PM
    Self-employment
    How to calcultate Federal and California taxes for self-employed (forms, deducting expenses, etc.)
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Sep 1, 2012, 02:17 PM
    For California, you will file Form 540.

    For the federal return, Forms 1040 with Schedules C and SE is required. I strongly recommend you get professional help filing these forms.
    joypulv's Avatar
    joypulv Posts: 21,591, Reputation: 2941
    current pert
    		  
    #3

    Sep 1, 2012, 02:35 PM
    How small a company are you?
    You can try wading through the booklets for self-employed sole proprietors (assuming it's just you, no partners, no employees, no inc. ) and the forms on IRS.gov.
    I did it (years before online) and didn't find it hard.

    If you are preparing for next year, fine. If you filed an extension for last year, pay for help.
    allinone's Avatar
    allinone Posts: 76, Reputation: 1
    Junior Member
    		  
    #4

    Sep 1, 2012, 04:47 PM
    Quote Originally Posted by joypulv View Post
    How small a company are you?
    You can try wading through the booklets for self-employed sole proprietors (assuming it's just you, no partners, no employees, no inc.?) and the forms on irs.gov.
    I did it (years before online) and didn't find it hard.

    If you are preparing for next year, fine. If you filed an extension for last year, pay for help.
    1 person
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #5

    Sep 1, 2012, 05:23 PM
    Joypulv offers good advice.
    allinone's Avatar
    allinone Posts: 76, Reputation: 1
    Junior Member
    		  
    #6

    Sep 3, 2012, 09:29 AM
    Thanks a lot
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #7

    Sep 6, 2012, 06:32 AM
    Glad to help!
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