Find Every Deduction and Set Your Business up for Success with TurboTax Self-Employed

This Find Every Deduction and Set Your Business up for Success with TurboTax Self-Employed post is sponsored by TurboTax. 

Find Every Deduction and Set Your Business up for Success with TurboTax Self-Employed

The gig economy is one of the fastest growing segments as more and more people are turning their side hustle into a business. I should know because I did exactly that. Years ago when the economy was struggling, the company I worked for just cut my position in the company. At the time, I had my side hustle and I was devoting some time to it. I was doing pretty well. However that layoff? It jumpstarted what has really been the absolute best decision of my life. I hope that you enjoy this Find Every Deduction and Set Your Business up for Success with TurboTax Self-Employed post.

This freelance thing is not without its challenges. Tracking my finances is a huge deal because I need all of that financial information for the next year. Up until last year, I wasn't so great about keeping track of my expenses but with TurboTax Self-Employed, they make it easy to know what is deductible. For instance, that rideshare that I took to a business event? It's deductible. I had no idea. Those tolls on the way to the airport and the parking at the airport for a press trip? Yeah…deductible. There are millions of self-employed individuals and TurboTax Self-Employed gives you the tools that you need to automatically find industry-specific business deductions and expenses PLUS you get on-demand access to real CPAs with TurboTax Live Self-Employed.

Why TurboTax Self-Employed?

Industry-Specific Deductions

This exclusive TurboTax Self-Employed feature looks for unique deductions across multiple industries (consulting, online sale, real estate and more) to help you find those industry specific business deductions that you might not have known about.

Effortless expense tracking, year-round

TurboTax Self-Employed comes with a complimentary one-year subscription of QuickBooks Self-Employed. This has saved me. We started using QuickBooks a few years ago and it really revolutionized the way I did business. With QuickBooks Self-Employed you get:

• year-round expense tracking
• automatic mileage tracking
• receipt capture
• quarterly tax estimates
• expense categorization throughout the year

QuickBooks Self-Employed and TurboTax Self-Employed work together to maximize your self-employed deductions at tax time, track expenses all year and automatically imports data into your tax return so you can keep more of the money you earn which gives you an easy filing experience.

Expense FinderTM with QuickBooks Self-Employed

ExpenseFinderTM from QuickBooks Self- Employed securely gathers business expenses by automatically checking credit card transactions and scanning your bank accounts for potential deductions. You can confirm which expenses are for your business.  

Personalized Audit Assessment

This NEW TurboTax Self-Employed Audit Assessment completes an in-depth analysis of your self-employed income and expenses and then compares it to IRS guidelines checking for red flags. This gives me peace of mind and confidence that I am doing things right.

DIY or Get Expert Help

You can Do It Yourself or you can click to connect with a real tax expert  to get answers to your self- employment questions with personalized guidance right on your screen.

NEW this year TurboTax Live Self-Employed connects self-employed taxpayers to live, credentialed, CPAs, Enrolled Agents (EAs), and Tax Attorneys, with an average of 15 years of experience to ask questions, get unlimited tax advice or have their return reviewed, signed and filed for them. All advice or reviews from CPAs and EAs are guaranteed, for 100% confidence. Now you can get unlimited help and advice all year long.

More Resources

Start with theTurboTax Self-Employed from TurboTax

Top Tax Write-offs for the Self-Employed

Check out the TurboTax blog

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Get Started With TurboTax Live Self-Employed Today!

TurboTax has combined on-demand tax expert help with technology to give you the best, most personalized experience possible. So freelancers, independent contractors and gig workers, let TurboTax and QuickBooks help you with tracking expenses and filing taxes, so you can concentrate on the things that you are good at like that side hustle. With their tools and your business savvy, TurboTax Self-Employed is just the partner you need to files your taxes with confidence and get every dollar deserve. Get started today with TurboTax Self-Employed and you'll be on your way to finding every deduction you qualify for.