You’re a freelancer, sole proprietor, or self-employed business owner who struggles with bookkeeping. You’re finding it difficult to keep track of business expenses, save receipts, and manage invoices. It seems like no matter what you do, the IRS always f!@#s you off during tax season. Here you will read about QuickBooks for the self-employed and if you want to know more about QuickBooks features like QuickBooks pro advisor and how to set up an employee for direct deposit in QuickBooks then click on these links.

Take a step back from the ledge. If you’re wondering if there is a better way to run your small business, you’re correct. We’ll look at the features available in QuickBooks Self-Employed, a cloud-based tax software. Examples include:c

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• Their mobile app includes automatic mileage tracking.
• The method by which their software calculates quarterly taxes.
• Keeping your business and personal expenses separate.
• Transactional data such as client invoices

If math is getting in the way of a generous tax return while running your business successfully, you should read this. Let’s get started!

What Is QuickBooks Self-Employed?

QuickBooks Self-Employed (owned by Intuit) is software that lets you import transactions automatically, track your mileage, and maximize your tax deductions. It even exports your Schedule C at tax time (Schedule – C is what accompanies your 1040 tax form and is for the self-employed).

There are three varieties:

Self-Employed QuickBooks (basic). You can take advantage of their promotion and get the first three months for half price ($5 per month, down from $10). You can also get a free 30-day trial.

Tax Bundle for QuickBooks Self-Employed (premium). When purchased, the tax bundle also includes a 29% discount for the first three months ($12 a month, down from $17).

Live QuickBooks Self-Employed Tax Bundle (premium plus). With purchase, you will receive a 29% discount off your first three months ($17 per month).

QuickBooks Self-Employed

Freelancers, independent contractors, sole proprietors, and the self-employed are who QuickBooks had in mind when creating this software – basically, anyone who needs to fill out a Schedule C at tax time.

Setting up an account takes less than five minutes. Once that’s done, link your bank accounts, credit card accounts, and any debit cards you want to be tracked. QuickBooks handles it from there.

Because QuickBooks Self-Employed (QBSE) isn’t advanced accounting software and lacks certain features like:

• Possibility of paying employees and 1099 contractors
• Purchase and sell goods (like retail outlets do)
• Managing large accounts payable

It’s best suited for freelancers who need basic bookkeeping services like tracking expenses, mileage, and assistance with tax deductions (QBSE automatically scans for all deductions you qualify for).

If your requirements exceed these, consider their advanced accounting software, such as QuickBooks Online.

Manage Income and Expenses

All of your financial transactions, including those from your bank, PayPal, Square, and credit cards, are easily imported. You can also take photos of your receipts with your phone and instantly link them to the corresponding expense.

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