Houston CPA for Freelancers & Self-Employed

Self-employment tax is 15.3% on net self-employment income (12.4% Social Security + 2.9% Medicare) up to the Social Security wage base, then 2.9% above that. However, you can deduct half of SE tax on your personal return, and contributing to a retirement plan reduces net SE income. We calculate the full picture.

Common deductions include: home office, computer and equipment, software subscriptions, professional development, health insurance premiums, retirement contributions, business meals (50%), vehicle expenses, professional fees (including your CPA), and marketing/advertising. We review your specific situation to find everything you're entitled to.

Q1: April 15 | Q2: June 15 | Q3: September 15 | Q4: January 15 (following year). Missing payments triggers an underpayment penalty — even if you pay the full balance by April 15.

For liability protection, an LLC is generally worth it. For tax purposes, a single-member LLC is taxed identically to a sole proprietor (Schedule C) unless you make an S-corp election. At higher income levels, the S-corp election saves on SE tax. We help you decide based on your actual income.