Don't overlook the safe harbor provisions! As a new freelancer, you can avoid penalties by paying either: - 90% of your current year tax - 100% of your prior year tax (110% if your income was over $150k) For first-year freelancers, using last year's tax liability is often the easiest method since you just look at your previous tax return. If you didn't owe any tax last year, you might not need to make estimated payments at all!

One thing nobody mentioned - make sure you're tracking all your business expenses from day one! As a video editor, you can deduct portions of: - Computer equipment - Editing software subscriptions - External hard drives - Office space (even home office) - Internet costs These deductions can significantly reduce your taxable income and might even keep you under that $1000 threshold longer than expected!

This is why I stopped using Robinhood for crypto completely. They're not actually designed primarily as a crypto platform and their tax reporting for it is terrible. Most dedicated crypto exchanges have much better tracking systems for transfers. For your current situation tho, make sure you're keeping all your transaction receipts and transfer confirmations. The blockchain itself is your friend here since all those transactions are recorded. You might want to consider using dedicated crypto tax software next year that can scan wallet addresses and consolidate everything across platforms.

I work as a tax preparer and see this exact issue multiple times every tax season. What's happening is that Robinhood's system doesn't maintain cost basis tracking when you transfer crypto off their platform - they treat it as a disposal event in their internal accounting. Here's what you need to do: Keep detailed records of your original Bitcoin purchase from Robinhood (date, amount, price per coin, any fees). When you file your taxes, you'll report the actual transaction on Form 8949 using YOUR records, not what Robinhood reports on the 1099-B. On Form 8949, you'll enter the sale with your correct cost basis and use adjustment code "B" to indicate that the basis reported to the IRS was incorrect. Include a brief note like "Cost basis per taxpayer records of original purchase." The key thing to remember is that transferring crypto between wallets you own is NOT a taxable event - it's just moving your property from one location to another. Only the actual sale triggers a tax obligation. Don't let Robinhood's poor record-keeping system trick you into overpaying taxes on gains you didn't actually make.

Don't forget you can also deduct a portion of your home expenses if you use part of your home regularly and exclusively for business. Look up "home office deduction" in TurboTax. It's based on the percentage of your home used for business. Totally legit deduction that many new business owners miss!

Great question! I went through this exact same situation when I started my consulting business last year. You're absolutely on the right track - all those startup expenses you listed are definitely deductible as business expenses on Schedule C. A few quick tips for TurboTax: When you get to the "Federal" section, look for "Business Income and Expenses" or "Self-Employment." Once you tell TurboTax you have business income, it'll create a Schedule C for you and walk you through different expense categories. Your business cards and flyers go under "Advertising," the DBA fee goes under "Legal and Professional Services," and the logo software subscription would be "Other Business Expenses." One thing to keep in mind - since these are startup costs, make sure you're clear about when your business actually "began" (when you started actively trying to make money vs. just planning). The IRS has specific rules about startup costs vs. ongoing business expenses, but based on what you've described, it sounds like you're well within the limits. Keep those receipts organized! I learned that lesson the hard way. Good luck with your business!

Has anyone tried just using both names? When I got married, I filed as "Jane Maiden-Married" since my paperwork was still processing. It went through without issues.

I just went through this exact situation a few months ago! The key thing to understand is that there's often a delay between when you submit your name change application and when it actually updates in the IRS verification system. Here's what worked for me: I called the Social Security Administration directly (yes, the wait times are brutal) and asked them to confirm what name is currently showing in their records for my SSN. They told me that even though I had submitted my paperwork, my maiden name was still the "active" name in their system until the processing was complete. I ended up filing my taxes using my maiden name, and it went through without any issues. You can still file as "married filing jointly" even while using your maiden name - the filing status is separate from the name issue. One tip: if you do need to call SSA, try calling right when they open (usually 7 AM local time) to avoid the worst of the hold times. Good luck, and don't stress too much - this is a super common issue that lots of newly married people deal with!

idk if this helps but when I had this problem it was bc my birth certificate had my middle name spelled different than my ss card

Another thing to check - make sure you're using the exact same name format that appears on your W-2 forms. Sometimes employers use your old name on tax documents even after you've updated your info with them. If your W-2 shows your maiden name but you filed with your married name, that could cause the mismatch. You might need to file with your maiden name this year and update everything for next year's filing.