How to File Taxes as an Independent Contractor - Krystal A. CPA

How to File Taxes as an Independent Contractor

Oultine:
Intro: (0:00)
Sole proprietors and single member LLCs: (1:21)
Single member LLCs taxed as S Corps: (4:03)
Recap: (5:50)
Tip #1: (7:02)
Tip #2: (7:44)
Tip #3: (8:28)

If you are one of the millions of workers who earn income from independent contractor work, then you might be wondering how to file taxes as such.

There are certain forms and taxes you have to pay as an independent contractor in order to stay on top of everything and out of IRS trouble.

In this video, I break down the necessary tax filings for independent contractors and provide 3 tips when filing.

Watch to learn more.

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Disclaimer: The information provided in this video is for informational purposes only and is not meant to take the place of professional legal, accounting, or financial advice. If you have any legal questions about this video or the subjects discussed, or any other legal matter, you should consult with an attorney or tax professional in your jurisdiction (i.e. where you live).

[bobbyharrington]

Good stuff!!! So many people work for companies as independent contractors but do not know how to do their taxes. I was one of them...

[princessz]

Thank you so much for taking the time to create this video. I sincerely appreciate it.

[FinancialFreedomMadeSimple]

Great to know these, Krystal. Thanks for sharing!

[duane]

A little quick on the speech. Very detailed, well done! 😃

[kevinumanzor]

Great content. Very simple and understandable. Love the teaching method. Keep it up. Too many YouTube channels try and teach this stuff at a basic level but end up getting off track and way too complicated. Thanks once again.

[chrisfurmato]

Thank you. Made it very clear. Like the way you deliver it. You had my attention the whole time. Wish all my teachers were as beautiful. I would have got straight As lol.

[TraciBradley-ik]

What about 1099 we pay to sub contractors???

[AgedeMafia]

Very good content. Just a quick question. Can this be done or is it done during tax refund filing?

[julianmontanez]

So I don't have my own LLC, I'm just paid as an independent contractor/ employee by my boss. Does this make a difference in anything?

[peacelove]

What is the tax bracket a dancer/entertainer should stay under without owing the IRS

[Paula-bhrp]

So when we send any estimated taxes we should have the SE and the c form every three months or just the SE

[jaimeolivieris]

Is it normal to receive your state tax Direct deposit first before you receive your federal tax

[bunnybunny]

Now I’m more confused then when I started

[jeffreychewning]

I haven't filed taxes as an independent contractor since 2017

[xojeauxwhite]

Great information. What would you suggest for a business that’s just starting; how would I figure out my estimated quarterly taxes? I have no past taxes to go off of and I don’t want to guess incorrectly on future income.

[HardworkAcademy]

Thank you for this awesome video! Very useful information 🙏🏽. Keep up the outstanding work 👏🏽 .

[EricM]

So how do i pay my taxes as a independent contracter for DD Or Uber eats So i have to pay out of pocket or can i pay out of the deductions or should i be saving i heen Door dashing since i think nov last year so i never Save money out of my income i was wondering If my CPA can it i got the solo app too i did not know if i have to take out money of my pocket since i have not been Saving it,

[arodr]

Best video I have watched explaining this

[simonsafos]

appreciate your knowledge !!! Had a question about 8:13 after "...keep things simple." when you say pay 110% of the prior years tax to avoid penalties, does that mean if you had NOT paid your QET ? when would this action take place? Thanks!

[ThekingJeshua]

This is confusing lol but understandable when watching 😩