Paying quarterly taxes with irregular income is easier than it looks. You don’t have to split your tax into four equal payments. Instead, you can pick one of three IRS-approved methods: pay a fixed amount based on last year, pay a share of whatever you earn each quarter, or use the annualized income method to … Read more
The self-employed health insurance deduction lets you subtract the health insurance premiums you pay from your income. You take it on Schedule 1 of your Form 1040, so you get it even if you don’t itemize. It’s one of the most valuable freelancer tax deductions, because health coverage is often a freelancer’s biggest monthly bill. … Read more
The easiest way to pay estimated taxes online is IRS Direct Pay. It’s free, takes about five minutes and pulls the money straight from your bank account. You don’t need to create an account, and you can schedule a payment up to 365 days ahead. This guide shows the exact steps, the other online options … Read more