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Important IRS Forms for Self-Employed, Small Business Owners

Your taxes can be a bit more complicated when you’re self-employed, a freelancer or a small business owner. We’ve put together a list of important IRS forms for self-employed workers in order to make your life a little bit easier at tax time.

IRS forms for self-employed, small business owners

The IRS has put together a nice hub for the self-employed. You can find that here. We’ll list out a few of the major ones, as well as provide a few tips you might find useful.

Filing and paying business taxes

This page offers all the forms you’ll need for filing, reporting and paying business taxes. Remember, if you’re self-employed or a small business owner, your chances of getting an audit are higher than W2 employees. Maximize your deductions of course, but pay the taxes you owe.

IRS Form 1040 Schedule C

The IRS Form 1040 Schedule C is the form you’ll use to report your profit or loss from your self-employed business if you’re a sole proprietor. This is also the form where you’re going to log your deductible business expenses.

Some of the major deductible business expenses include:

Employment tax forms

The Employment Tax Forms is where you’ll go if your business employs people. You’ll be able to find the proper forms to request an Employer Identification Number, determine worker status, fill out 1040 forms for employees and more.

Here are some articles that will help you determine which forms you and your freelancing operation or small business will need:

About the author

Marin Perez

Marin is part of the marketing team at Microsoft. He's excited to see how entrepreneurs can better start, manage and grow their businesses.

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The Growth Center does not constitute professional tax or financial advice. You should contact your own tax or financial professional to discuss your situation.