QuickBooks Self-Employed

Intuit QuickBooks Self Employed (QBSE):

Frequently Asked Questions (FAQ)

I am self-employed and I pay a lot of Self-Employment taxes. Why?I have my own business and noticed that I am paying a lot of Self-Employment taxes. What are Self-Employment taxes and why am I paying so much?


 

Does Lyft deduct taxes when they pay me?Hey everyone, I am a college student and I recently started driving for Lyft for some extra spending money. I noticed that I receive the total fee I’ve earned without taxes being withheld. I know this is too good to be true, so when and how do I pay taxes on my Lyft earnings?


 

Do I need a separate bank account for my business?Hello everyone,I am a freelance writer and I am using my personal bank account for all business related transactions. Do I need to open a separate bank account for my business?


 

How do I estimate quarterly tax payments?I am a designer and I recently found out that I have to pay quarterly taxes. This is a new concept to me and I don’t know how to estimate how much quarterly taxes to pay. Any help is appreciated.


 

I set up a SEP-IRA and made a contribution to it from the business account.How do I record that, is it an Owner’s Withdrawal, or a business expense?I am a single member LLC taxed as a sole proprietor. I am using Quickbooks Self-Employed.


 

Can I deduct mileage in connection with my Amazon selling activities?Hey everyone, I sell vacuums on Amazon which causes me to drive around the city more than one can imagine. Can I deduct the mileage I incur from driving around in connection with my Amazon business?


 

One of my clients isn’t sending me a 1099 and my taxes are due, help!
I have been constantly contacting a client to provide me with a 1099 but they are failing to do so. They keep giving me the run around although they legally must provide a 1099.
Don’t I need a 1099 to report my taxes? How can I accurately report my taxes now?


 

Does Uber deduct taxes when they pay my earnings?
I just started working for Uber and I don’t know how this all works.
Does Uber deduct taxes when they pay me? Or do I have to pay taxes on my earnings?


 

I drive for Uber, can I deduct miles?
One of my Uber colleagues said I can deduct all of the miles I incur while driving for Uber.
Is this true? I don’t want to get in trouble with the IRS.


 
I am self-employed and I am working out of my home, can I take a home-office deduction?
I read the IRS is very strict about the home-office deduction and scrutinizes it closely. How can I ensure I am eligible for the home-office deduction and claim it properly?


 

Do I Have to Pay Quarterly Taxes?
I am working as a freelancer and some people are telling me I need to pay quarterly taxes. How do I know if I am required to pay quarterly taxes? I don’t want to get fined or penalized by the IRS.


 

Does Guru Deduct Taxes When They Pay Me?
I am working as a freelancer and I am unsure whether Guru deducts taxes when they pay me or whether I am responsible for taxes myself.


 

How can I deduct business mileage?


 

Can I deduct the costs of the supplies for jewelry I sell on Etsy?
I recently started selling handmade jewelry, such as bracelets, earrings, necklaces, and anklets, on Etsy.
The jewelry is entirely handmade, so I pay for their production costs straight out of my pocket.
My husband told me that I can deduct the costs of the jewelry from my taxes, since it’s a cost of doing business. Is that true? Can anybody provide some expert help?


 

I am self-employed and one my clients needs me to submit an IRS W-9 form, what is that?
I don’t understand any tax lingo and I want to make sure I know what I am submitting. Can somebody please explain what an IRS W-9 form is?


 

Do I have to pay taxes on things I sell on Etsy?
Recently, I have started selling some of my handmade goods on Etsy. Can I keep the fee I earn outright? Or do I have to report the money I’ve earned and pay taxes to the IRS?


 

I am self-employed and some of my clients are paying me using an IRS 1099 form. What is a 1099?
I have never seen a 1099 before and I don’t know what I am supposed to do with it. Do I file it with the IRS? Are taxes withheld? Do I owe taxes on top of this amount?
Any guidance is appreciated.


 

How Do I Report Money I’ve Earned Working as a Freelancer to the IRS?
I’ve earned money on several different sites this year and I want to make sure I accurately report how much I’ve made to the IRS. How do I accurately report the money I’ve made working as a freelancer?


 

Do I have to report the shipping fees I charge eBay buyers to the IRS as income?
I charge buyers $10-$15 as a flat shipping charge for vacuums I sell on eBay.
Do I need to report this $10-15 as part of my income to the IRS?
Please advise.


 

Why isn’t Lyft deducting taxes when they pay me?
I just started working for Lyft and noticed that they are paying me the entire fee I’ve earned outright. I know the IRS is going to take their share out of it sooner or later.
Why isn’t Lyft deducting taxes from my payments? How and when do I pay the IRS to ensure I don’t go to jail?
Any help is appreciated


 

Do I need to charge sales tax if I am selling on eBay?
I am selling some products on eBay and I am sure whether I am required to charge sales tax. Is it dependent on my state? I am in Iowa.


 

Will Etsy give me a 1099? What if I don’t receive a 1099 from Etsy?
I am relying on Etsy to provide me a 1099 so I can accurately report my earnings to the IRS. Will Etsy give me a 1099? What if they don’t give me a 1099?


 

As a Self-Employed Individual, Can I Take Deductions When Filing Tax Returns?
I want to maximize the money I earn working as a self-employed individual on sites like Guru and oDesk. How can I properly claim business related tax deductions in compliance with the IRS?


 

How Do I Figure Out How Much Tax I’ll Owe The IRS?
I am working as a freelancer on Guru and I am trying to estimate how much tax I’ll owe. How can I estimate the amount of taxes I’ll owe?


 

What If I Don’t Receive a 1099 from Guru?


 

With Self-Employed QuickBooks online + TurboTax, how do I pay estimated STATE income tax?


 
I set up a SEP-IRA and made a contribution to it from the business account.How do I record that, is it an Owner’s Withdrawal, or a business expense?


 

What’s the difference between Business Transfer and Owner’s Withdrawal?


 

Does quickbooks self employed track COGS?


 

How do I estimate quarterly tax payments?


 

Do I need a separate bank account for my business?