Question

Why do I owe back taxes when I only made 11 thousand and some change? I need to fix it !

Forum|Forum|3 years ago
January 10, 2023
1 reply
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TurboTax Live Self Employed

Employee

Those who have self-employment income....they need to be ready to pay the Self Employment taxes (SS and Medicare) when they have a net gain from their SE income.

Thus, you can owe those SE taxes, even if your income isn't high enough to owe any regular income taxes.

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

X

xmasbaby0

Employee

https://ttlc.intuit.com/questions/2902389-why-am-i-paying-self-employment-tax

https://ttlc.intuit.com/community/self-employed/help/how-do-i-report-income-from-self-employment/00/26653

https://ttlc.intuit.com/community/self-employed/help/what-is-the-self-employment-tax/00/25922

https://ttlc.intuit.com/questions/1901340-where-do-i-enter-schedule-c

https://ttlc.intuit.com/questions/3398950-what-self-employed-expenses-can-i-deduct

https://ttlc.intuit.com/questions/1901110-do-i-need-to-make-estimated-tax-payments-to-the-irs

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

X

xmasbaby0

Employee

@skraft85 I noticed that your question was posted from the quite expensive online Self-Employed Live software--which provides help from a live tax expert. If you have not paid or registered yet, you can still downgrade or go elsewhere to prepare your tax return without spending so much on the software.

-Use this IRS site for other ways to file for free. There are 8 free software versions available from the IRS Free File site

https://apps.irs.gov/app/freeFile/

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**