Meet FlyFin TaxGPT, Your A.I. Powered Tax-Assistant ️
Self-employment gives you so much freedom. You work for yourself, make your own hours, and you can even hire people that you actually want to work with. But like every American, you can't escape tax season, but you can escape the stress that comes along with it.
In addition to Form 1040, you’ll need to fill out forms to calculate your self-employment tax. You also have to pay estimated quarterly taxes. Want a lower tax bill? As a self-employed individual, you're able to itemize your deductions.
Filing your tax returns can be a lot smoother if you use tax software that is specifically built for the self-employed. This way, all your needs are already anticipated, and you don't have to worry about how to get your tax bill as low as possible – the software handles that for you.
FlyFin was designed to help make tax filing easier for self-employed individuals. Just link your expenses to let A.I. scan your business expenses to find every possible deduction, down to the smallest write-off. This leaves you with more time and money, and saves you from the anxiety of tax season.
You can set it up so that the A.I. presents you with all your expenses once a week for you to review. All you do is swipe left or right to accept or reject deductions, a bit like a dating app. Do this every week, or every month and never stress about taxes again!
A team of CPAs who are experts in 1099 taxes are available 24/7 in the app to answer any question you have about your deductions for free. They also prepare and file your tax returns for you, with free audit insurance.
If you’ve decided to take the plunge and tackle your taxes alone this year, here are a few tools that can help. You can use this 1099 tax calculator to find deductibles that you can add to your Schedule C, estimate your quarterly tax payments, and even calculate your overall self-employment income. There is also a tax penalty calculator that's super easy to use.
If you’re looking for a free tax filing software as a self-employed individual, the IRS has an e-filing program called IRS Free File. If your Adjusted Gross Income (AGI) is $73,000 or less, you can use its Guided Tax Preparation. If your AGI is above $73,000, you are eligible to use the Fillable Forms option.
Finding the best tax service for self-employed individuals isn't easy. Everyone’s situation is different, and when you’re self-employed your income tends to fluctuate every year. If you’re comfortable doing your own taxes, you can use the IRS’ free filing option or any other free tax filing software out there. But if this is your first time filing taxes, or you're unsure about what qualifies as a deduction, it's always best to seek help from a certified tax professional.
FlyFin CPA Team
With a combined 150 years of experience, FlyFin's CPA tax team includes tax CPAs, IRS Enrolled Agents and other tax professionals, offering users the most comprehensive tax advice and preparation.