Managing finances can be daunting, especially for self-employed individuals constantly on the move. With QuickBooks for Self Employed, the mobile app capabilities are designed to simplify Bookkeeper360 Review your financial tasks anytime, anywhere. Whether you’re in a coffee shop or traveling for business, this app ensures you stay on top of your financial game effortlessly. Link your bank account to automatically import expenses. This means you’ll spend less time entering data and more time growing your business. QuickBooks categorizes expenses for you, making tax time less stressful.

Unlimited expert help filing self employed taxes

First of all, QuickBooks Self-Employed includes built-in mileage tracking—a crucial feature if you plan to include business travel as a tax write-off. QuickBooks Live Assisted Tax is a way for sole proprietors to do their taxes without leaving QuickBooks. Our experts from TurboTax will be available to answer any of your filing questions about topics like income and expenses, tax credits https://www.xhlbj.cn/how-to-do-bookkeeping-for-a-restaurant/ and deductions, and more to help you file with confidence. For those who want a seamless tax filing experience, QuickBooks Self-Employed integrates with TurboTax.

Invoices that do more than get you paid

Intuit reserves the right to modify or terminate any offer at any time for any reason in its sole discretion. Unless otherwise stated, each offer is not available in combination with any other TurboTax offers. Certain discount offers may not be valid for mobile in-app purchases and may be available only for a limited period of time. We also offer full audit representation for an additional fee with TurboTax Audit Defense. Bank reconciliations, an essential part of financial integrity, are also covered, demonstrating reconciliation procedures using sample bank statements.

• Have you outgrown self-employment bookkeeping software?
• Check out our list of the best accounting software for small businesses.
• You must report your Gross Income (total earnings before expenses) on Form T2125 (Statement of Business or Professional Activities) as part of your T1 Personal Income Tax Return.
• Designed for freelancers, independent contractors, and sole proprietors, QuickBooks Solopreneur (formerly QuickBooks Self-Employed) costs $20 per month.
• You can talk live with your tax experts as often as you need.

Business vs. personal checking

But as a 1099 form independent contractor, you get the full amount. You are now responsible for both quickbooks self employed cost the employee and employer portions of Social Security and Medicare taxes. That’s a cool 15.3% right off the top – before income tax even enters the conversation¹.

You can only track one company file with the Self Employed tool, so if you have more than one business, you’ll need to open more than one account. It’s possible to create different categories for your transactions, so you can assign any payment from a particular client as business funds for example. You can also use this feature to account for recurring payments such as subscription payments and regular office supplies.

• In a 2025 survey, 76% of QuickBooks users reported spending less time on tax preparation compared to their previous manual methods.
• The paid versions are, not surprisingly, easier to use.
• Users can feel confident knowing their information is safe.
• QuickBooks Live Tax, powered by TurboTax, is an integrated service with QuickBooks Online.
• QuickBooks for Self-Employed offers tools that make this process straightforward and efficient.

QuickBooks Online Additional Fees and Features

If you aggressively write off expenses to lower taxes, you might accidentally disqualify yourself. You need to show income to get credit, but you need to show expenses to save on taxes. Walking this tightrope without professional help is nearly impossible. One wrong move on your Form 1040-ES and you are flagged. If you wait until the end of the year to pay, you get hit with penalties.

Banking services provided by our partner, Green Dot Bank, Member FDIC. All the right tools to help your solo business succeed moving forward. A well-designed and custom invoice says a lot about your business. No matter your industry, build your brand and get money faster with the help of our free invoice templates.