self employed tax credit calculator

self employed tax credit calculator

Are you a self-employed individual looking for an easy way to calculate your tax credits? Look no further! Our self-employed tax credit calculator is the perfect tool to help you take control of your finances. Simply input your information and let the calculator do the rest. Say goodbye to tedious calculations and focus on what you do best – your business!

reduce expenses

reduce expenses

In order to improve your financial health, reducing expenses should be a priority. By carefully managing your spending habits and making informed decisions, you can create a more sustainable budget and save for future goals. This article will provide practical tips and strategies for effectively cutting expenses without compromising on quality of life.

Home Office Deduction

Home Office Deduction

Is working from your home office a regular occurrence? Did you know you could be eligible for a home office deduction? Take advantage of this tax break and maximize your savings. Find out more on how to claim this deduction and keep more money in your pocket while working in the comfort of your own home.

Maximize Savings with Self-Employment Tax Breaks

Maximize Savings with Self-Employment Tax Breaks

As a self-employed individual, you have the power to make the most of your savings through tax breaks. By leveraging deductions and credits, you can keep more money in your pocket. Read on to discover strategies that will help you maximize your savings and boost your financial success as a self-employed business owner.

Boost Your Profits: Uncover Lucrative Self-Employed Tax Incentives!

Boost Your Profits: Uncover Lucrative Self-Employed Tax Incentives!

Are you a self-employed professional looking to maximize your profits? Look no further! Discover the hidden gems of tax incentives designed exclusively for self-employed individuals, and give your business a boost like never before. Get ready to reap the benefits and watch your profits soar!

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SEE HOW MUCH YOU QUALIFY FOR
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Helping independent business owners get every dollar they deserve.

Our team of tax experts are here for small business owners to claim the federal FFCRA tax credits commonly known as the Self Employment Tax Credit (SETC). Get up to $32,220 back!

For 2019, 2020 and 2021 Enter your Net Income for Each Year:

To find your self-employed income for taxes, check your Schedule C, specifically “Line 31 – Net Profit or (loss).” This is your total income before deductions, combining earnings from all your jobs.

For 2020 and 2021 how many DAYS per YEAR did you sacrifice working in your business because you had COVID 19, had COVID 19 symptoms, a COVID 19 related illness and / or were told to quarantine because you were exposed or affected by COVID 19.

If you had COVID-19 and took time off between April 1, 2020, and March 31, 2021, or between April 1, 2021, and September 30, 2021, you can claim up to 10 days in each period.

For 2020 and 2021 Enter the DAYS per YEAR you sacrificed working in your business because of care for #1 your minor (under the age of 18 or a child with severe disabilities) child’s school or daycare closed, your child out was sick, or your child was told to quarantine due to COVID 19 and / or #2 for the same reasons you cared for another over 18 individual(s).

If you cared for someone between April 1, 2020, and March 31, 2021, you can claim up to 50 days. From April 1, 2021, to September 30, 2021, you can claim up to 60 days.

As per IRS guidelines, you are NOT required to provide proof of a positive COVID-19 test or your COVID-19 status when submitting your filing. Instead, you are confirming IN GOOD FAITH that you experienced COVID-19, its symptoms, related illness, or quarantine, resulting in the inability to work and earn income. While no specific evidence is needed for filing, it’s advisable to retain certain records for your records. These might include a positive COVID-19 test result, a healthcare provider’s note about your positive test or symptoms, or documentation indicating quarantine. Also, remember that maintaining records of non-working days due to COVID-19 exposure or symptoms could be beneficial, such as data from your business software or bank statements reflecting the absence of sales deposits during that period. You can trust our simplified process to account for your circumstances accurately and fairly.

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