Tax Help | Self Employed, Independent Contractors & Freelance Workers

[@smarie7655]

Thank you for this! I love how you wrote everything out almost like you were doodling. Makes listening to tax talk less boring and easier to understand.

[@chaniceball]

So glad that you liked it!! Thanks for watching. I hope it was helpful

[@georgouspeach]

Sooo true. BRILLIANT!

[@grcdtgrw]

I thank God for people like you! It's so refreshing to know that people genuinely want to help others. Thanks for this video Chanice! :D

[@chaniceball]

Thank you so much for the feedback and I'm glad that you found this helpful! Exactly why I made this video, so that people could better understand going forward!

[@kendallwatson8561]

Wow! I never knew you could write off books if they are related to your field of work. Thank you for taking the time to make this video. I just started doing DoorDash last week and this information has been very helpful.

[@chaniceball]

Glad it was helpful!

[@NintCondition]

Very helpful and beautiful handwriting skills!

[@chaniceball]

Thank you so much 😀

[@taylor1589]

i love stride! ty for this video i’m about to file for the first time n it’s spooky but this was vv informative:)

[@chaniceball]

Glad it was helpful! I need to file my taxes too! I've been slacking on it

[@nikkilove1782]

Great video. I wasn’t a huge fan on Stride. Too many instances when it would stop tracking my miles mid shift. 🤦🏾‍♀️ I use Everlance and Gridwise now and I really enjoy them

[@chaniceball]

Fair enough! Stride is interesting. I too stopped using it. I just decided to calculate everything myself and I keep track using a spreadsheet. Thank you for suggesting the two platforms. I'm going to look into them!

[@nikkilove1782]

@@chaniceball you’re welcome. I also write mine down just in case.

[@volitiveclover]

Great video for someone who does door dash and or instacart. I do both and I was really questiong the taxes bc i make so much each week. I'm gonna start saving my gas receipts.

[@chaniceball]

Itachi Uchiha yes! I’m glad this could clear up a lot for you. Look into apps such as Stride and Keeper Tax to keep track of your expenses and cut down on the cost of paper.

[@JonLondon210]

Download the getupside app as well it helps you get money back for your gas.

[@highcarity101]

I want to thank you. You should teach a tax class. You give very informative information.

[@chaniceball]

Thank you so much! I am not a professional by any means but I have worked for myself for years so this is just information I have come to learn and uncover over the years so its beneficial to share with others! I am learning so much as I continue to go along

[@haveyouseenherbz]

Thank you for the info! This will make filing as a freelancer so much easier. Great video

[@chaniceball]

Thank you! I can also do one for small businesses too, but generally, its the same rules

[@karljay7473]

@8:34 the milage rate should be 57.5 but most say it's 58. IDK if you've actually compared the two, but if you are keeping track of everything related to travel, you should be a lot better off with the standard mileage way.

[@MrCaliboy97]

Everything about this was insanely informative! Thank you so much

[@chaniceball]

I'm so glad that you found this helpful

[@Jessyoutube4]

Best video I’ve found about this topic! Thank you. And girl you have beautiful handwriting. 😊

[@chaniceball]

So glad you could find this helpful!

[@sandrafield9813]

Wow this was super helpful. I wish I could give you more than one like!!

[@chaniceball]

Thank you so much for watching!!

[@Tishalocs]

Thanks for the info on Keeper Tax!

[@chaniceball]

For sure! Check it out.

[@emeraldstream]

@Charice Ball Very well done. Easy to follow, good explanation, and the accompanying video made it easy to absorb

[@chaniceball]

Thank you so much for that. That was my goal for the video. This information can seem very confusing and overwhelming. Hoping to make an updated one later on this year considering so much has changed with the pandemic and all

[@heyusa2610]

Thank you! It was really helpful and interesting to watch)

[@chaniceball]

Thank you for tuning in! I'm glad that you found this helpful

[@chiyourmobilewellness8364]

Very informative Ms Ball. Thank you for posting.

[@chaniceball]

Ms. Ball is my grandmother lol I'm Chanice! thank you for watching !!

[@MsLee-oh7hy]

@ Chanice Ball THANKS SO MUCH FOR making this video. I joined Instacart in May 30 2020. I LOVE working for Instacart. I hear it can be a mess when it comes to Tax time for the GIG economy employees.

[@chaniceball]

Ms. Lee congrats love! Yes, I joined Instacart right before COVID hit and it helped me to sustain making money. I’m happy you love it! Just keep track of your mileage and anything else you may use to do this freelance job!

[@thirdeyereptiles1772]

I started in April and want to pay my quarterly taxes by july 15th, but when I go to turbo tax it shows I already paid. Because I worked a normal job in 2019 and filed my taxes before April of this year. How do I calculate what I owe & where can I file quarterly since I already filed for last year's work?

[@frankshimada3990]

When you say “portion”, how much can you write off? Is it arbitrary? If my phone bill is 25 bucks a month how much can i write off as a deduction? 5? 10? Who determines that and how much?

[@chaniceball]

What I mean by portion is, how much of an item/expense is used for your job. For example, your phone. You would determine the percentage of how much you use your phone in relation to your job. So say you use your phone 25% of the time for DoorDash, you would only account for that 25% of that bill. So let's say you did DoorDash for an entire year - each month you used it 25% of the time and your bill is $25/month. 25 x 12 = 300 25% (business usage) of 300 is = $75. In total your write-off deduction would be $75 in relation to what you would/could get back on this expense/item. Hope this helps!

[@DeuceGenius]

did you write off those markers? :) ty for the info thank you thank you

[@chaniceball]

LOL I should have .. right? Thank you for watching! I hope it is helpful

[@milkbread5036]

This was so helpful and easy to follow! Thank you so so much!!! I love your handwriting btw! ^_^

[@chaniceball]

Thank you! I'm glad that you found it helpful

[@bestcleansnatureu.s.a5662]

Good job👍👍👍👍👍

[@chaniceball]

Thank you!

[@brittanydoffoney5147]

Thank you for this video.. love it so helpful 💕

[@chaniceball]

So glad that you found it helpful!

[@ajyannajones4038]

Super helpful !

[@Lucid_lifestyle]

The standard mileage one seems easier... as long as I’m getting around or about the same amount as doing it manually then I stick with the standard way. Unless u think Manuel gets you more money?

[@chaniceball]

Pro Joker I see your point and you do make a good one. I only have used Manuel because some years I made less and some years I made more so my expenses were different. Going forward now that I use these jobs full time, I’m going to stick with standard

[@gregorymorris6447]

Great video thank you

[@chaniceball]

Thank you for checking it out. I hope it gave great insight

[@dezmondstamps7657]

You are awesome! Thank you lady!

[@chaniceball]

You're welcome! i hope this was helpful for you this tax season

[@ketowithme]

What if we didn’t track mileage? How do we calculate standard mileage rate without that?

[@chaniceball]

You may have to estimate as best as you can. Which app do you use? Some driving apps include your milage while your app was on. A big part of the standard milage rate would include the number of miles you drove. The average person drives 15,000 miles a year. You can probably guestimate off of that number. I hope this helps a little

[@misstruth1115]

How to pay quarterly taxes using Turbo Tax?

[@chaniceball]

That I am unsure of. I'm sure they have something online that can assist. I only do my taxes annually, but I do know there are options to doing it quarterly.

[@misstruth1115]

@@chaniceball Thanks for replying.

[@PinayLuV8o8]

Hi Chanice! Great awesome helpful information. I’m thinking of doing independent contracting. My question is do we need a GE license if we are a independent contractor? Is it required for which state you work in as a independent contractor? If you have answers to this it will be greatly appreciated. I live in Hawaii. Thank you Chanice!

[@chaniceball]

Hi! Thanks for watching this video! I'm glad to know that you found it useful and helpful. I am actually unsure what a GE license is, but to my knowledge and experience no license is require in order to be an independent contractor. However, it could also be that depending on the type of employment you are working, may require certain certifications or credentials, but for the jobs that I mentioned in the video, you would just need your phone and if you're using a vehicle, your driver's license. I hope this helps!

[@YungLuiis]

Thank you so much!

[@chaniceball]

You're welcome!! Thank you for watching

[@FoodTrucksForDummies]

Your amazing thanks and blessings 💚😁

[@chaniceball]

You are so welcome! Thank you. I hope you found this helpful

[@Apple201222]

What happens if your mileage deduction is higher than your income made that year? Do you not pay taxes?

[@chaniceball]

short answer is yes, however the IRS may view this as a hobby and not a stream of income and may not view your earnings as an independent contractor. But you need to still report it

[@antonioarcano7989]

I personally think the "no tax deductions" is a plus not a minus since we almost pay no taxes and you don't have to report the tips.

[@chaniceball]

You don't have to report tips, but you should. But every tax situation is different. So if you're income is more than expenses, you may end up owing.

[@Lovve_less]

Do I have to file if I made around 1,200? This seems complicated and i thought you dont have to file if its less than 12k?

[@chaniceball]

Hi Chaz. You always for sure should file your taxes. You will know how you should file or if you need to pay back anything depending on the form you receive as an independent contractor. Your amount that you made can be indicative of still having to file.

[@verneshaxquisite8638]

Thank you ☺️

[@chaniceball]

You’re welcome 😊

[@Noor-ty1xt]

How do you track milage( every single day)

[@chaniceball]

There’s a couple ways you can do it. You can either write down your starting mileage and ending mileage each time you drive your car for work for a day and calculate the amount of miles you drove that day. Or would I like to do, is use the app called Stride, this allows you to start and stop your mileage as you choose in a day and it tracks and saves the amount of mileage that you used

[@karlaquinte2830]

Hey, I really found your video very informative. I hope you can help me please. My situation is kinda confusing and every tax preparer I spoke to have told me different things. So my dad claimed me and my sister as dependent, we both worked as freelance talent/actress and made less than $400 last year, so we didn't get any 1099 form. My dad also had us in his Obamacare insurance but only for the month of January and February because he transferred to Medicare, so I had to get my own individual insurance from Obamacare, but I only got it for the months of May- June- July, after that I canceled it because I knew I was not going to make the minimum income of $12000. My dad filed his 2019 taxes in January 2020 and included only his 1095-A form in which my sister and I also appear as covered individuals just for Jan and Feb. I also got my own 1095-A form since I got my own insurance for three months (May,Jun,Jul) but my sister didn't get any 1095-A form because she never got her own insurance. So, do you think am I or is my sister required to file 2019 taxes?

[@chaniceball]

ohh, I'm sorry i am late with this response. A lot of the specifics you provided, I am unsure of especially with medical things. I am not a tax professional, however my short advice is if you are making your own money, no matter who is claiming you, you still should file your taxes. Your sister wouldn't need to file due to her seeming like she is only being claimed for the insurance portion. If you two are being claimed in regards to his income, that is different. It makes sense that you didn't receive a 1099 form from your acting/talent agency because you made below taxable income, so that makes sense. Once you start making over that, I would start filing my own taxes. I hope this has helped a little bit

[@yapdesme3824]

Great video👍🏾

[@chaniceball]

Thank you! 💗

[@andreias5564]

There is a money limit for how much TAX finances regist allows someone to make? For instances, can Solo Traders/ Independent workers make 100.000 per month or should make less?

[@chaniceball]

Hi! If I’m understanding your question correctly, you’re asking if there’s a cap on the amount of money that independent contractors are allowed to make before having any tax penalties? If so, yes! For some organizations/apps, they will tell you the amount that you would have to reach over before takes are taken out. Usually like more than $400-1,000 in a year would require one to pay taxes. As far as what you can make a month, that is completely up to you as a worker to decide how much or how little you want to make. I hope this helps!

[@ThatLadyDray]

Thank you. This was very informative & easy to understand. By chance do you know if you can file jointly if married & still claim the deductions? I recently got married & am looking into contract work but was curious about the taxes. Thanks again.

[@chaniceball]

Congrats on getting married. That question, i am unsure of, but my guess would still be yes! regardless of status you can still have deductions, absolutely

[@ashleyelley]

I have a question I’m hoping you can answer- if you’re working multiple gig apps, how do you file all of this? Do I have to separate my miles etc? Do I just add my phone etc to one of them? Or is it all together? Thank you to anyone for your help. ❤️

[@chaniceball]

Hi - okay so this is essential how you file having multiple gigs. Each "gig" that earns income is a job - if your freelance you will have multiple 1099 forms that will come along with your taxes when you file (this is done by a professional or turbotax - so don't worry too much) your job is solely to differentiate which job uses which expenses, how much of a expense you use for each job because they may all be different percentages - example: LYFT Driver, UBER Eats and Actor jobs - you use your car for each one right? You will basically track or keep track of how much you use your car for that specific job. So say you drove LYFT 30%, ACTOR 25% And Uber Eats 10% - you could only write off how much you use. Milage included. I would suggest using the Stride app or logging your miles for all of your gigs so that you can make this process easier when tax time comes. Hope this helps!

[@danikfoury4698]

Helpful! I'm a freelance dancer. Are you familiar with paying your expected taxes for the year by January 15th or getting charged interest? Something with a safe harbor rule- so if I owed in 2019 I need to pay that much in expected 2020 taxes by January 15th of 2021 or else I get charged interest? Can you do a video explaining that more?

[@chaniceball]

Hi Dani, Thank you so much for watching this video and finding it helpful for you. I am unfamiliar with you being charged interest if you owed in a previous year and did not pay. Usually, I have heard that the government will take what they are owned from you in the next tax refund. I do know that the Jan. 15th date you speak of is usually the date that quarterly taxes are due if you are a freelancer who files quarterly. I will do some more research with understanding the interest question and for sure do an updated video on that for you!

[@Soochy_]

I do instacart, can I choose to do annual taxes instead of quarterly?

[@chaniceball]

I believe how often is up to you. Either you pay your taxes back at the end of the year or pay quarterly. Whichever makes the most sense for you and how often you drive

[@karinaguevara392]

@@chaniceball I heard if you owe 1k or more at the end of the year you have to pay a penalty for not paying quarterly if that correct ? Sorry I just signed up for door dash and want to keep up with all this stuff

[@chaniceball]

@@karinaguevara392 No no, don't be sorry! These questions help me stay updated as well. This is one here, that is new to me so let me do some research on that too and we can compare findings. For me, I have made more than $1k driving Lyft and I have never seen or saw anything stated through TurboTax that I was being penalized for not filing quarterly. (If so, they just took the $ and didn't say anything). I like to file yearly because sometimes I drive consistently and sometimes I go a couple months without doing it. I say since your first starting, see how much your profits are by the end of the next quarterly cycle that you're going to go with and just see where your at to decide how you want to file. I'll get back to you with some other stuff that I find

[@Usernameemanr]

You cant deduct mileage and expenses. Its either one or the other

[@chaniceball]

Hi, you can deduct both, that just depends if you're going to use standard deductions or expense everything.

[@kaolid]

Hello Chanice! Thank you for this amazing video. I'm entirely new to taxes so I have a quick question. So I made some money from January to March of 2020 as an independent contractor, and I was wondering if I have to file for the upcoming July 15th Deadline?

[@chaniceball]

Hi, so any money that you make in the year 2020 you can decide to either, wait until April 2021 (normal tax-submitting schedule) to file or you can file quarterly within this current year. It all just depends on whats best for you. I would suggest checking the IRS website to see if you fall under a certain umbrella that determines if you need to file quarterly or not. I hope this helps!

[@joshuaflores4074]

So my boss is self employed and he took taxes from me is that nessary?

[@chaniceball]

hi! if he files stating he has employees, this is depending on what kind of business he has, he has to pay taxes for employees.

[@juancarloslujan9442]

How do I file taxes if I don’t have a 1099 and made Under $600 in 2020? Any help.

[@chaniceball]

Hi, which 1099 form did you get? Typically if you made under $600, you can file as income however it isn’t taxable.

[@desareadoodles9446]

thank you so muchhhhhh

[@chaniceball]

You're so welcome! thank you for watching ❤️

[@jonathanrivas7332]

Is this for Canada, right?

[@chaniceball]

I am not sure about Canadian tax laws, but this video is more so for the US, however the information should be the same across the board.

[@felfidofabien8696]

I’m working as an independent contractor,but the money that I made with the company I worked for is direct deposit under 400 dollars, but I make more cash money with the same LLC that I have as an independent contractor, do I still to report that money even though I don’t have a 1099?

[@chaniceball]

Independent contractors will use the 1099 form to file taxes and list your quarterly/yearly earnings, however often you file. For the company you work for that gives you direct deposit, they will/should provide you with the form that you will need to use. Was this clear? Am I understanding your question?

[@felfidofabien8696]

You give me a great answer, but what about if I make some cash money with the same LLC that I have, do I have to report it even though I don’t have a 1099 , can I still apply for EIDL grant with the LLC that I have please?

[@chaniceball]

@@felfidofabien8696 Are you saying that you have your own LLC? If so, you're asking if you need to report cash that you receive? Yes, you should report all your earnings. a 1099 is a form, you can get it online on the IRS website. 1099 usually is for independent contractors. I am unsure what an EIDL grant is, but im sure they have conditions on who/what kinds of businesses qualify. I hope this helps!

[@garrison2574]

So if I can use the mileage to deduct more than I believe I am going to need to pay (I save 20% each check) then how does that work

[@chaniceball]

You may not have to owe anything

[@kiarrawoods7923]

Hi when taking taxes out of my weekly pay with Uber and doordash, do I have to do it from base pay or both base and tips?

[@chaniceball]

Your tips do count as earnings so typically yes. Here are some links I think can better help you make a decision on what you want to do in regards to your tips in your tax return

[@chaniceball]

www.irs.gov/businesses/small-businesses-self-employed/tip-recordkeeping-and-reporting

[@chaniceball]

turbotax.intuit.com/tax-tips/jobs-and-career/how-to-claim-tips-on-your-tax-return/L2xnHeQvl

[@kiarrawoods7923]

@@chaniceball thank you! I also was trying to pay my taxes quarterly but I have no idea what to do or how start for that matter. 🤦🏾‍♀️

[@chaniceball]

@@kiarrawoods7923 Not a problem. For me, I do lyft so because i don't fully understand the quarterly aspect of filing the taxes, I just wait and do it yearly. You never know how your earnings may fluxuate

[@adithyaseshan6968]

Hello, I was wondering if you had to pay taxes quarterly, or can you wait until after the year ends near tax time to pay independent contractor taxes?

[@chaniceball]

Hi! Typically it's advised independent contractors to pay taxes quarterly, just so you don't have to pay a huge lump some at the end of the year. But in reality, however often you choose to pay whether it be quarterly or yearly, you will pay regardless. I personally pay yearly, because sometimes i'm driving consistency and sometimes I go months without doing it. So its all about your own preference.

[@ladrenajefferson5488]

Hi I’ve been watching your videos, I had a question I have worked Instacart a little this year for the first time. I’ve only made 1300. I was concerned about the taxes I would have to pay back because I am not able. I was wondering the % you have to pay back is it 20 or 30%? Thank you for responding I haven’t worked in 10 years due to illness.

[@chaniceball]

Hi! Congrats on starting instacart! I use to do that myself. I believe the # is 30% ... however, it's per quarter, not per month or per day... per quarter. You have the option to pay quarterly, or annually, and you can also write off your expenses to your job with may lower the amount that you owe.I hope this helps!

[@ladrenajefferson5488]

@@chaniceball thank you I will wait to see after I file. Always trying to find out, what’s ahead! Have a great day!

[@percyflores7517]

Does anybody' know how to calculate or get your anual revenue on your taxes ? (For a loan) thanks

[@chaniceball]

The question I am a little unsure of. Are you asking where you find out how much money you made annually as a sole-contractor?

[@Vladyyy]

Nice voice

[@chaniceball]

Thank you!!

[@traptown6666]

Chanice Ball

[@skorpyo331]

Quarterly.

[@skorpyo331]

Is making quarterly payments just as easy as estimating for 1040es on turbo tax for free?

[@chaniceball]

I would assume so. If you can be on top of yourself to submit quarterly, you should be fine