Navigating taxes as a freelancer or contractor can be overwhelming, but DuPage Tax Solutions is here to guide you. Our comprehensive freelancer and contractor tax resources provide expert insights and tools to help you succeed. From tax tips for freelancers to claiming freelancer tax deductions, we simplify the process of staying compliant and maximizing your earnings. Whether you need independent contractor tax advice or a self-employed tax resource, we offer solutions tailored to your unique needs. Based in Naperville, IL, we support clients locally in the Chicago area and nationwide with our freelance tax preparation guide and online services.
Working as a freelancer or contractor comes with unique tax responsibilities. Understanding these challenges can help you avoid costly mistakes:
One of the benefits of freelancing is the ability to claim tax deductions specific to your work. Below are some common deductions:
Freelancers and contractors must be familiar with specific tax forms to file correctly:
Tax filing deadline: April 15
Extension: The IRS and most states allow for a 6-month extension. The deadline to file an extension is April 15. Then your tax return filing deadline is October 15.
At DuPage Tax Solutions, we file extensions free of charge for our clients. Contact us to learn more.
Tax payment deadline: April 15 (no extension for payments)
Self-employed individuals and business owners: Estimated tax payments are due during the year the income was earned, starting on April 15, June 15, September 15, and January 15.
Browse our curated posts to deepen your knowledge:
If you are a business owner planning to invest in assets for your company, one powerful provision to consider is the Section 179 Deduction. This tax-saving opportunity can significantly reduce your business’s taxable income. In this guide, we’ll explore what you need to know about the provision.
Navigating the complexities of the U.S. tax system can be overwhelming, especially with frequent changes to tax laws and regulations. The benefits of hiring a tax professional include peace of mind and the assurance that you maximize credits and deductions while staying compliant with the IRS. By seeking expert guidance, you can reduce your tax liability and avoid costly errors.
Estimated tax payments ensure you stay compliant with federal tax obligations if your income isn’t subject to withholdings. Whether you’re an independent contractor, freelancer, or small business owner, understanding these payments is crucial to avoid penalties. Let’s explore what triggers estimated tax payments, who must pay them, and how to meet these obligations effectively.
If you’re self-employed or a freelancer and use your car for business purposes, you may be eligible to deduct car expenses on your taxes. Understanding the deduction options available can help you save money while staying compliant with IRS regulations. Below, we outline the key methods for deducting your car expenses and provide tips for choosing the best approach for your situation.
Explore our full range of online tax resources.
At DuPage Tax Solutions, we specialize in supporting freelancers and contractors. Our online tax resources include:
No matter where you’re located, from Naperville to across the United States, our team is ready to help you navigate the complexities of self-employment taxes with confidence. Learn more about our services, reporting, and prices.
Check out these pages for more guidance:
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