Yes we do. Also we are the only software that does not add any fees for self-employment income. Don’t forget, we include audit insurance for your peace of mind!

You generally file Schedule C (Profit or Loss from Business) with your Form 1040. If net earnings are $400+, you must also file Schedule SE for self-employment tax.

Common deductions include:

• Office supplies & equipment.
• Business travel & lodging.
• Advertising & marketing.
• Professional fees (legal, tax prep).
• Bank fees & merchant processing fees.
• Continuing education courses.

You must report both. W-2 goes on your return as wages, while self-employment goes on Schedule C. The two combine to determine total tax liability.

Net losses can offset other income (like W-2 wages). If your losses exceed the limit, you may have a Net Operating Loss (NOL) to carry forward. This can be an audit red flag. Generally, if you go over 33% of expenses or into a net loss on a Schedule C (self employed income), your tax return could be looked at by an IRS agent and they will decide to select it for audit or not.

Generally, when net income is consistently above $80,000 per year, an S-Corp will start to save you approximately $5000 a year or more in taxes. At this stage, you probably would be better off not using a self-service tax platform. Setting up and maintaining an S-Corp requires a tax professional to ensure payroll, reasonable compensation, and IRS compliance are handled correctly but the extra cost will be worth it if you make over $80,000 in profit on a consistent basis.

Yes, for business miles only (not commuting). You may use:

• Standard mileage rate (2025): 67¢ per mile.
• Actual expense method: gas, insurance, repairs, depreciation.

Yes, but only the business portion. Keep logs or reasonable estimates (e.g., 70% business, 30% personal).

Yes, if you are self-employed and not eligible for employer-sponsored coverage. Premiums for you, your spouse, and dependents are deductible “above the line.”

Yes — but follow payroll rules. Paying children under 18 can save SE and payroll taxes if structured correctly. Must be reasonable wages for actual work.