Tax Preparation for Self-Employed Professionals & Single-Member LLCs

TAX PREPARATION FOR SELF-EMPLOYED PROFESSIONALS & SINGLE-MEMBER LLCs

For consultants, freelancers, and independent professionals whose business has outgrown do-it-yourself software.

Personal return with a sole proprietorship or single-member LLC (Schedule C): starting at $1,295.

When you work for yourself, your tax return becomes the financial report card for your business. Income arrives on 1099s or not at all, nobody withholds tax for you, and the deductions you’re entitled to depend on records you keep yourself. At Victoria Bogdanovich CPA, we work with established self-employed professionals every season — and we help them decide when it’s time to take the next step, such as an S corporation election.

Who this is for

• Consultants, contractors, and freelancers paid on Form 1099-NEC or 1099-K
• Licensed professionals in solo practice — engineers, designers, therapists, realtors, and others
• Owners of a single-member LLC that hasn’t elected S corporation status
• People who left a W-2 job this year to work for themselves
• Side businesses that have become real businesses

What we handle

• Schedule C — business income, cost of goods sold, and every category of expense
• Self-employment tax — Social Security and Medicare on your net profit, and the deduction for half of it
• Estimated tax payments — calculating what to pay each quarter so you avoid underpayment penalties
• Home office and vehicle — choosing the method that gives you the larger deduction and keeping it defensible
• Retirement plans — SEP-IRA and Solo 401(k) contributions that can lower your tax significantly
• Self-employed health insurance — deducting premiums for you and your family
• Qualified business income (QBI) deduction — confirming whether you qualify and how much
• Equipment and software — depreciation or immediate expensing of business purchases
• Texas franchise tax report — the annual report most Texas LLCs must file

Common mistakes we see

No estimated payments. Without withholding, many first-year self-employed people owe a large balance plus penalties in April. We’ll set up a payment plan for the year ahead.

Mixing business and personal money. Using one account for everything makes deductions hard to prove and books hard to keep. A separate business account is the simplest fix.

Missing deductions — or claiming the wrong ones. Home office, mileage, phone, and professional fees are often left out, while personal meals and clothing are often claimed. Both cost you.

Not reconciling 1099s to income. The IRS matches the 1099s it receives to your return. Income that’s reported to the IRS but missing from your return is one of the most common reasons for an IRS notice.

Staying a sole proprietor too long. Once your profit reaches a certain level, an S corporation election may reduce your self-employment tax. Many owners find out years later than they should have.

Is it time to become an S corporation?

An S corporation lets you pay yourself a reasonable salary and take the rest of your profit as distributions, which aren’t subject to self-employment tax. It also adds payroll, a separate business return, and more recordkeeping. For many owners, the savings outweigh the costs only once profits are consistently high. We’ll look at your numbers each year and tell you when it’s worth considering. See Tax Preparation for S Corporation Owners.

How it works

1. Check your fit — about 1 minute. Answer a few questions and see your starting fee.
2. Create your client portal account and complete our Client Application.
3. Meet with us — free Tax Discovery meeting. Upload your last two years of returns at least 24 hours before the meeting so we can discuss an estimated fee range on the call.
4. Receive your engagement package with your estimated fee and scope of work. Work begins once you sign.

Starting price

Personal return with a sole proprietorship or single-member LLC: starting at $1,295.

Businesses with inventory, employees, several activities, rentals, or other states — and books that need clean-up — are quoted after we review your last two years of returns. Bookkeeping and year-round support are quoted separately. Your engagement package sets out your estimated fee and what it covers. Work outside that scope is billed separately.

See your starting fee

Frequently asked questions

I made a small amount from a side gig. Is this the right service for me?
Our fees are designed for established businesses with meaningful income and expenses. If your self-employment income is small and simple, a lower-cost preparer may suit you better.

What records do I need?
Your 1099s, a profit and loss summary or your bookkeeping file, a list of business expenses, mileage records, home office square footage, and any equipment purchases. If you use QuickBooks or similar software, we can review it directly.

When are estimated taxes due?
Generally in mid-April, mid-June, mid-September, and mid-January. We’ll calculate the amounts with your return so you know what to pay for the coming year.

Is my single-member LLC taxed differently from a sole proprietorship?
For federal income tax, usually not — both report on Schedule C unless the LLC elects to be taxed as a corporation. In Texas, however, an LLC generally has an annual franchise tax report that a sole proprietor doesn’t.

Can I deduct my home office?
Yes, if part of your home is used regularly and exclusively for your business. We’ll compare the simplified and regular methods and use the one that gives you the better result.

Do you offer bookkeeping?
Yes, for business owners whose tax returns we prepare, together with year-round support. It’s quoted separately. See Bookkeeping & Accounting for Our Tax Clients.

Ready to see where you fit? Take the 1-minute fit check or see our pricing and how it works.