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April 10, 2025
Question

I'm self-employed but this is the first time I'm going to be filing with no depends how is this going to work like how I'm I going to get money

  • April 10, 2025
  • 1 reply
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    1 reply

    Employee
    April 10, 2025

    @brown-danielle1226 If you do not have any dependents to claim then you are not eligible for any of the refundable child-related credits.   So---you might not get a refund if you did not have any tax withheld from any source(s) of the income you received.  You will owe self-employment tax for Social Security and Medicare, and perhaps ordinary income tax.

     

    If you have self-employment income for which you will pay self-employment tax for Social Security and Medicare,  you will need to use online Premium software or any version of the desktop software download so that you can prepare a Schedule C for your business expenses.

     

     

    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/turbotax-support/en-us/help-article/import-export-data-files/enter-self-employment-business-expenses-like-home/L1k6HJY4A_US_en_US?uid=m6jrthmp

     

     

    If you live in a state with a state income tax, you might need to make estimated payments to your state.

     

    https://turbotax.intuit.com/tax-tips/small-business-taxes/the-home-office-deduction/L1RZyYxzv

     

    https://turbotax.intuit.com/tax-tools/calculators/self-employed/

     

    https://ttlc.intuit.com/community/business-taxes/discussion/self-employed-don-t-miss-these-tax-moves/00/3400413

     

     

    If you owe tax due, you have to pay it yourself by the filing deadline on April 15, 2025.

     

     

     If you have federal tax due you can pay by mailing your payment with the 1040V voucher, (which has the address printed on it, having the payment taken out of a designated bank account, or you can pay directly on the IRS website. 

     

    https://www.irs.gov/payments

     

     

    https://ttlc.intuit.com/community/tax-payments/help/how-can-i-pay-my-federal-taxes/00/26212

     

     

    https://ttlc.intuit.com/community/tax-payments/help/how-do-i-pay-my-irs-tax-due-with-a-check-or-money-order/00/26403 

     

     

    To apply for a payment plan with the IRS

     

    Apply Online for a Payment Plan

     

     

    You must pay your state tax due using the state’s preferred method of receiving payment.  For most states that will be by making a payment to the state’s own tax website, or by mailing a check or money order.

     

     

    https://ttlc.intuit.com/turbotax-support/en-us/help-article/state-taxes/contact-state-department-revenue/L9qVToi02_US_en_US?uid=m6e06um0

     

     

    **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.**