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phenry17 t1_j6dbvcs wrote

I would advise that you work with a CPA on this. I was 1099 for 10+ years working for myself.

There are plenty of write offs available, understanding them is a diff story. Milage, business expenses, home office, internet…all that. BUT, I would hire a professional to help, they will understand what you can and can’t do much fast than you trying to figure it out on your own, trust me.


TSUTigers95 t1_j6dgbw1 wrote

Contact a tax professional


PPQue6 t1_j6di1dh wrote

Only answer here that matters.


gderti t1_j6f3axo wrote

But, until then. Put money away for your taxes...


DRWDS t1_j6dpja2 wrote

Remember to pay your estimated quarterly taxes, which are not every 3 months.


k2j2 t1_j6fnfps wrote

Daughter just became independent contractor. Is there a calculator to know how much estimated tax to pay?


United_Stable4063 t1_j6dhmzv wrote

Besides deductions look into opening a self-employed 401k. You can shelter a large percentage of your income via one of these. Also, in PA, the only deduction you can take due to the flat tax is a 529 plan contribution. So a combination of these can lower both your federal and PA taxes.


hypotenoos t1_j6de499 wrote

Do you itemize?


lm_nurse77 OP t1_j6e31gg wrote

I do, but we never really benefitted from it in the past but .. I try 😂


lm_nurse77 OP t1_j6e324l wrote

Thank you everyone!


Flimsy-Lie-1471 t1_j6jf87e wrote

this is not really the place to be asking tax advice, but you can take deductions for the time you were self employed.