Maximize Your Tax Deductions with TurboTax Self-Employed

💼Self-employment includes any work done outside of regular employment, such as freelancing or app-based gigs.

🔍TurboTax's self-employed section allows you to claim deductions for business expenses, such as equipment or mileage.

💰Deductions can help reduce your taxable income and potentially increase your tax refund.

📝Keep track of all your business expenses and make sure to have receipts for each deduction.

📈Upgrading to TurboTax Self-Employed can provide you with additional tax benefits and guidance specific to self-employment.

Who should use TurboTax Self-Employed?

—TurboTax Self-Employed is ideal for individuals with self-employment income, including freelancers, gig workers, and small business owners.

What types of expenses can I deduct?

—You can deduct a wide range of business expenses, including equipment, supplies, travel expenses, and home office expenses. TurboTax will guide you on which expenses are eligible for deductions.

Do I need to upgrade to TurboTax Self-Employed?

—If you have self-employment income and want access to additional deductions and guidance tailored to self-employment, upgrading to TurboTax Self-Employed is recommended.

What if I have both regular employment and self-employment income?

—If you have income from both regular employment and self-employment, TurboTax will help you accurately report and claim deductions for both sources of income.

Is TurboTax Self-Employed worth the cost?

—TurboTax Self-Employed can potentially help you save money by maximizing your deductions and ensuring you accurately report your self-employment income. The cost of TurboTax is often outweighed by the tax savings it helps you achieve.

00:00Introduction to TurboTax's self-employed section

00:32Explanation of self-employment and its various forms

02:30Importance of tracking and deducting business expenses

04:10Step-by-step guide on how to use TurboTax's self-employed section

06:25Highlighting the benefits of upgrading to TurboTax Self-Employed