Determine your tax status as an independent contractor
Collect all income records from clients and platforms
Track deductible business expenses throughout the year
Set aside money for income tax and self-employment tax
Make estimated quarterly tax payments if required
Use Form 1099-NEC and other income documents to report earnings
File Schedule C to report business income and expenses
File Schedule SE to calculate self-employment tax
Pay any remaining tax balance by the filing deadline
Keep records of income, expenses, receipts, and tax payments
Consider using accounting software or a tax professional
Check federal, state, and local tax filing requirements