Self-employed and 1099 tax preparation addresses the unique requirements of independent contractors, freelancers, gig economy workers, and small business owners who receive income reported on Form 1099. This service includes organizing all business income records, tracking business expenses throughout the year, calculating quarterly estimated tax payments, and preparing Schedule C for profit or loss from business. We help identify deductible business expenses such as home office costs, vehicle mileage, supplies, equipment purchases, and professional fees. The process involves separating personal and business expenses, calculating self-employment tax on net earnings, determining quarterly estimated payments to avoid underpayment penalties, and ensuring all income is properly reported. We prepare both federal and Massachusetts returns, accounting for state-specific requirements for self-employed individuals in Boston. The service includes electronic filing options and providing detailed profit and loss summaries for business planning purposes.
What's included
Comprehensive self employed and 1099
Schedule C preparation for business profit or loss
Self-employment tax calculation on Schedule SE
Quarterly estimated tax payment planning and Forms 1040-ES
Business expense categorization and deduction optimization
Vehicle mileage and expense tracking (standard or actual method)
Home office expense calculations and documentation
Massachusetts state tax preparation for self-employed income
Year-end profit and loss summary for business planning
Common situations
When you need self employed and 1099
Freelance consultants with home office and professional development expenses
Gig economy workers with multiple 1099 forms from different platforms
Small business owners with equipment purchases and supply expenses
FAQs
Self Employed and 1099 questions answered
What records should I keep for self-employed tax preparation in Boston, MA?
For self-employed tax preparation in Boston, MA, maintain detailed records of all business income, expense receipts, mileage logs, quarterly estimated tax payments, and any home office documentation. Keep bank statements showing business transactions and separate business checking accounts when possible to clearly distinguish business from personal expenses.
How do quarterly estimated payments work for self-employed individuals in Boston, MA?
Self-employed individuals in Boston, MA must make quarterly estimated tax payments using Form 1040-ES. These payments are due April 15, June 15, September 15, and January 15. We calculate these based on your previous year's tax liability and current year income projections to help avoid underpayment penalties.
Can I deduct home office expenses for my Boston, MA business?
Home office expenses may be deductible for self-employed individuals in Boston, MA if you use a portion of your home exclusively and regularly for business. This includes a percentage of rent or mortgage interest, utilities, and internet costs based on the square footage used for business purposes.
What is self-employment tax and how is it calculated in Boston, MA?
Self-employment tax in Boston, MA is 15.3 percent on 92.35 percent of your net self-employment income, for a total of approximately 14.1 percent. This covers Social Security and Medicare taxes that would normally be split between employee and employer. We calculate this on Schedule SE as part of your tax preparation.
How do you handle vehicle expenses for self-employed taxpayers in Boston, MA?
Vehicle expenses for self-employed taxpayers in Boston, MA can be deducted using either actual expenses (gas, maintenance, insurance) or the standard mileage rate. We help track mileage, calculate the business use percentage, and prepare the appropriate forms to maximize your deductions while ensuring compliance.
Compliance Note
We provide tax preparation services. We do not provide legal advice. Complex self-employment tax situations may require additional professional consultation beyond basic preparation.
Example engagement
How we help with self employed and 1099
Service Type: Self-Employed and 1099
Location: Boston, MA
Scope: Preparation of federal and Massachusetts returns for self-employed income
Client Situation
A freelance graphic designer in Boston with multiple 1099 forms and home office expenses
Our Approach
Organize all 1099 income, categorize business expenses, calculate self-employment tax, prepare Schedule C and Forms 1040
Expected Outcome
Complete tax returns filed by April 15 with accurate self-employment tax calculations and quarterly payment schedule
Example of the type of engagement we can handle
Ready to get started
Get help with self employed and 1099
Contact us to discuss your self-employed tax preparation needs in Boston, MA. We can share references upon request.