Self-Employment Tax Strategies

Don’t let your yearly tax burden steal the joy of running your own business.

Self-employment is a beautiful world – no bosses, flexible schedules, doing work you love – until tax season comes around. Running your own business is costly, and all those out-of-pocket expenses add up.

Luckily, being self-employed means you have many options for decreasing taxes that you wouldn’t have if you were just an employee.

Some of the best self-employment tax strategies include:


    Increasing business-related expenses


    Changing your entity structure


    Increasing tax during years when you lose money


    Deducting the cost of equipment, rent, advertising, loan interest, working from home, business use of your vehicle, startup costs… and much more


    Turning charitable contributions into business expenses

    Implementing these and other self-employment tax strategies helps you not only save money, but it also:


      Retain Social Security retirement or disability benefits


      Exempt some of your earnings from self-employment taxes


      Pay taxes as an individual rather than a corporation


      Contribute towards your retirement plan


      Invest money into your company

      Although it seems quick to only take the obvious tax-deductions for self-employment and move on, there’s a long list of options you can capitalize on to lighten your tax burden. 

      Let our tax planning experts guide you through all the ins-and-outs when it comes to saving money on self-employment taxes.

      We won’t let you pay the IRS more than you should.

      Let Us Help:

      How the 1099K Delay Affects Louisville Taxpayers

      Coming out of the Thanksgiving fog yet? I think there are still a few leftovers in my fridge from Thursday’s meal that might end up in the waste bin… I’ve had my fill of leftovers.Or maybe you chose to forego leftovers altogether and stay light for your Black Friday...

      Thanksgiving Cues for Every Louisville Person

      I love Thanksgiving. I don’t love Thanksgiving. Both are equally true. A lot of it comes down to sharing a meal with our Louisville family and friends. There’s something special about getting to gather at the dinner table and express gratitude for a roast turkey and...

      Kevin Roberts’s Guide to Divorce and Taxes

      We’re not the only ones who can get festive this time of year. In the spirit of giving, the IRS recently released important updates for the 2024 tax year to adjust for inflation. They’re increasing the Standard Deduction — up to $29,200 for married...

      Before Turning Louisville Homes Into Short Term Rentals

      The real estate market is tough in general right now. With less loans being dealt out and a shortage of homes for sale, both buyers and sellers are working hard to get what they want.And it looks like there’s a big change with how agents are paid that’s coming...

      How Louisville Givers Can Guard Against Fake Charities

      There’s been an extraordinary surge of fakers this year. The explosion of AI along with more sophisticated scams can make it feel like you have to look under every rock. While Biden is enacting a presidential order to demand some accountability from the big...

      Preparing for Disasters: A Guide for Louisville Residents

      Though last month was officially National Preparedness Month, it’s sad to think that just about every month these days reminds us about preparing for disasters, from hurricanes on the East Coast to wildfires in the West to tornadoes in the middle.Last year,...

      How the Government Shutdown Affects Louisville Taxpayers

      This week, my staff and I are pausing to celebrate that the chapter has closed on 2022’s filing. It was probably over for you back in April, but my team just wrapped that up for some of our Louisville clients who needed to file extensions. Of course, we’ll be...

      When to Take Social Security: Tips for Louisville People Nearing Retirement

      This weekend’s events in Israel have been very difficult to take in. Seeing the violence and hearing the stories have been heartbreaking, to say the least. Our thoughts go out to the innocent Israelis and Palestinians suffering through the attacks in Gaza and other...

      Roberts CPA Group’s Case for Paying Federal Income Tax

      Here we are in October. I know what you’re thinking… already?! Yes, already.And with the way time seems to race by in the last few months of the year with Louisville holiday celebrations and gift buying and all the other little tasks, you’ll be thinking the same thing...

      Getting into Giving: A Louisville Taxpayers Guide 

      As I’m finishing off 2022 tax filing for Jefferson county clients who requested extensions — if you’re in the extension crowd and haven’t talked to me about this yet, schedule something right away — it’s got me thinking about what’s coming. Let’s take a look.1099-K...