When I was working a normal job, all I had to do was put the information from my W-2 onto the tax forms and do a few calculations. It was boring, but it was easy enough for a guy like me who isn’t knowledgeable on everything taxes. Now I do work at home, which means I have to file self employment taxes. Filling out everything isn’t as simple, because I don’t get a W-2 or even a 1099. I had to get a little help from tax software for tax preparers in filling out my taxes this year.
Self employment requires that individuals file a Schedule C and Schedule SE. These forms essentially act as ways to report earnings along with any expenses that could have counted towards work. I didn’t have any expenses that factored into my work, so I was left with only the income. I had a dedicated office that I was using for work, along with work specific technology, so I was able to add a deduction for that. The daunting task of filing taxes didn’t seem so hard with the software guiding me through it. I finished my taxes in less time than it took to do them on paper.
The state taxes were even faster. Normally I would have to copy most of the values from my federal taxes and enter them into my state taxes, but with the software, it was all done automatically. I just had to answer a few questions about any additional state deductions that may have been applicable and that was about it. I didn’t owe anything on my federal and state. Tax season is still something that I don’t look forward to every year, but at least it’s easier to get through now with a bit of technological help.