self-employed tax credit / refund (setc)

self-employed tax credit / refund (setc)

Calling all self-employed individuals! Good news – the self-employed tax credit/refund (SETC) can now put those hard-earned bucks back in your pocket. Find out how to claim this sweet deal and make those tax returns a little less taxing.

How do self-employed people get credit?

How do self-employed people get credit?

Being self-employed is not for the faint-hearted. Soaring above the chains of employment, they fight for credibility. In a world that thrives on stability, self-employed individuals must wrestle with financial institutions, demanding recognition. The journey to secure credit is fraught with emotions – frustration, determination, and even despair. But against the odds, they trudge forward, fuelled by their dreams and a burning desire for financial independence.

What is the ERC tax credit for self-employed people?

What is the ERC tax credit for self-employed people?

Every self-employed person knows the relentless burden of taxes. But amidst this chaos, there’s a glimmer of hope – the ERC tax credit. A lifeline to struggling entrepreneurs, it fuels dreams and soothes weary souls. Finally, a chance to be recognized, supported, and thrive. Brace yourself for the warmth of financial respite.

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!

Is 50% of self-employment taxes deductible from self-employed income?

Is 50% of self-employment taxes deductible from self-employed income?

It’s a cruel twist of fate for self-employed individuals who pour their hearts into their work – only to be slapped with exorbitant self-employment taxes. But hope lies in the form of a potential deduction. Can we rejoice, or is it just another cruel tease, dangling before us a mere 50% deduction? Cries of frustration and elation mingle, as the battle against the taxman rages on.

Can 1099 employees get a tax refund?

Can 1099 employees get a tax refund?

Title: The Hidden Struggle: Can 1099 Employees Find Solace in Tax Refunds?

Excerpt: In the shadows of uncertainty, 1099 employees yearn for the vindication of a tax refund. A glimmer of hope that might soothe their souls as they navigate a treacherous tax landscape. A lifeline to justice in a system that often overlooks their sacrifices. Is there a light at the end of this dark tunnel? Can the underappreciated warriors of freelancing finally claim what’s rightfully theirs? The answer lies within their collective voice, echoing the desperation of those who dare to dream big.

What happens if you are self-employed and don’t file taxes?

What happens if you are self-employed and don’t file taxes?

Title: The Daunting Reality of Ignoring Tax Obligations When Self-Employed

Excerpt:
Behind the facade of entrepreneurial freedom lies a dark abyss for those who dare dismiss their tax responsibilities. With each unfiled tax return, the weight of consequences grows heavier, crushing dreams and propelling lives further into chaos. As the walls close in, the haunting truth emerges – the pursuit of success cannot thrive amidst the suffocating grip of willful neglect. Blissful ignorance morphs into catastrophic despair, leaving self-employed individuals stranded in an unsympathetic labyrinth where every step leads to ruin.

self-employed tax credit (setc)

self-employed tax credit (setc)

The self-employed tax credit (SETC) is a valuable benefit that many self-employed individuals may be eligible for. This tax credit can provide substantial savings and is specifically designed to support those who work for themselves. By taking advantage of the SETC, self-employed individuals can ease the burden of their tax obligations and potentially put more money back into their pockets.

Can you get money back from taxes if you are self-employed?

Can you get money back from taxes if you are self-employed?

Do you ever feel the weight of the self-employed world crushing your financial dreams? Hope may be on the horizon. Imagine the relief, the surge of emotions, as you discover the possibility of getting money back from your taxes. It’s time to reclaim your rightful share and unleash the power of your hard-earned dollars!

Unleashing the Entrepreneurial You: Mastering the Art of Self-Employment Marketing

Unleashing the Entrepreneurial You: Mastering the Art of Self-Employment Marketing

Unleashing the Entrepreneurial You: Mastering the Art of Self-Employment Marketing

Bursting with passion, creativity, and a relentless drive for success? It’s time to unlock your true potential as a self-employed entrepreneur. Dive into the exhilarating world of marketing and learn how to craft your unique brand story, captivate your target audience, and soar towards limitless success. Embrace the art of self-employment marketing and revolutionize your entrepreneurial journey.

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GET STARTED
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SEE HOW MUCH YOU QUALIFY FOR
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START YOUR CREDIT

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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