Do Self Employed Qualify For Earned Income Credit?

The Earned Income Credit (EITC) can be a significant financial boost for eligible individuals, and at income-partners.net we want to make sure you know if you qualify. If you’re self-employed and wondering whether you can claim the EITC, the answer is yes, you absolutely can! This article will explore the ins and outs of the EITC for the self-employed, eligibility requirements, how to calculate the credit, and valuable insights to maximize your benefits and boost your income. Let’s dive in and uncover the possibilities for financial partnership and increased income! This includes understanding how the EITC interacts with self employment tax, income tax credits, and other financial strategies for business owners.

1. Understanding the Earned Income Credit (EITC) for the Self-Employed

Yes, self-employed individuals can qualify for the Earned Income Credit (EITC). The EITC is a refundable tax credit designed to help low- to moderate-income workers and families. It reduces the amount of tax you owe and can give you a refund, even if you don’t owe any taxes.

The EITC aims to incentivize and support those who earn income through their labor, including entrepreneurs and freelancers. Income-partners.net is here to guide you through understanding how this credit works, especially if you’re navigating the complexities of self-employment.

1.1. What is the Earned Income Credit (EITC)?

The Earned Income Credit (EITC) is a refundable tax credit in the United States aimed at benefiting low- to moderate-income individuals and families. As a refundable credit, the EITC not only reduces the amount of tax you owe but can also provide a refund, even if you don’t owe any taxes. This makes it a vital resource for those striving to improve their financial stability.

The EITC was established to encourage and reward work, providing extra support to those who are employed, whether they work for an employer or are self-employed. It helps to alleviate poverty, boosts economic security, and encourages workforce participation. The credit amount varies based on your income, filing status, and the number of qualifying children you have. According to research from the Brookings Institution in July 2023, the EITC is one of the most effective anti-poverty programs in the U.S.

1.2. Why the EITC is Important for Self-Employed Individuals

For self-employed individuals, the EITC is particularly crucial because it provides a financial safety net and acknowledges the unique challenges and financial uncertainties that come with entrepreneurial endeavors. Self-employment often involves variable income, and the EITC can help smooth out those fluctuations. Here’s why it’s important:

Financial Stability: Self-employed individuals often face fluctuating incomes. The EITC provides a stable financial boost, helping to cover essential expenses during leaner times.
Encourages Entrepreneurship: By providing a financial incentive, the EITC encourages more people to pursue self-employment, fostering innovation and economic growth.
Reduces Poverty: The EITC is effective in reducing poverty rates among self-employed individuals and their families.
Supports Economic Growth: By putting more money into the hands of low- to moderate-income individuals, the EITC stimulates local economies as people spend their refunds on goods and services.
Balances Tax Burdens: Self-employed individuals pay self-employment taxes (Social Security and Medicare) in addition to income taxes. The EITC helps offset this tax burden.

1.3. Common Misconceptions about EITC and Self-Employment

There are several misconceptions about the EITC and self-employment that can prevent eligible individuals from claiming the credit. Here are a few to dispel:

Misconception 1: Self-Employed Individuals Don’t Qualify: This is false. Self-employed individuals absolutely can qualify for the EITC if they meet the income and other eligibility requirements.
Misconception 2: You Need Dependents to Claim EITC: While having qualifying children can increase the amount of the credit, it’s not a requirement. You can still claim the EITC without dependents if you meet certain criteria.
Misconception 3: The EITC is Only for Low-Income Earners: While the EITC targets low- to moderate-income earners, the income thresholds are higher than many people realize. It’s worth checking if you qualify, even if you think your income might be too high.
Misconception 4: Claiming the EITC is Complicated: While tax credits can seem daunting, resources like income-partners.net and the IRS EITC Assistant are available to help you determine your eligibility and properly claim the credit.

2. Eligibility Requirements for Self-Employed Individuals

Understanding the eligibility requirements for the Earned Income Credit (EITC) is crucial for self-employed individuals. Let’s break down the specific criteria you need to meet to qualify.

2.1. Defining “Earned Income” for Self-Employed

For self-employed individuals, “earned income” typically refers to the net earnings from your business. This is your gross income minus ordinary and necessary business expenses. Here’s a closer look at what constitutes earned income:

Business Profits: This includes the profits you make from operating your business, whether it’s a sole proprietorship, partnership, or limited liability company (LLC).
Freelance Income: Money earned from freelance work, such as writing, consulting, or graphic design.
Contract Work: Payments received for services performed as an independent contractor.
Royalties: Income from royalties if you actively participate in the creation of the work that generates the royalties.
Farm Income: Net earnings from operating a farm.

What Doesn’t Count as Earned Income:

Investment Income: This includes interest, dividends, and capital gains.
Retirement Income: Payments from pensions, annuities, and Social Security benefits are not considered earned income.
Unemployment Benefits: These are not classified as earned income.
Alimony and Child Support: These payments do not count as earned income.

2.2. Income Limits Based on Filing Status and Number of Qualifying Children

The income limits for the EITC vary based on your filing status and the number of qualifying children you have. Here are the AGI (Adjusted Gross Income) limits for the tax year 2023:

Children or Relatives Claimed	Filing as Single, Head of Household, Married Filing Separately, or Widowed	Filing as Married Filing Jointly
Zero	$17,640	$24,210
One	$46,560	$53,120
Two	$52,918	$59,478
Three	$56,838	$63,398

Source: IRS Publication 596 (2023)

To determine if you meet these income limits, calculate your Adjusted Gross Income (AGI), which is your gross income minus certain deductions like contributions to a traditional IRA, student loan interest, and self-employment tax.

2.3. Other Key Requirements

In addition to meeting the earned income and AGI limits, you must also meet several other requirements to qualify for the EITC:

Valid Social Security Number: You, your spouse (if filing jointly), and any qualifying children must have a valid Social Security number.
U.S. Citizen or Resident Alien: You must be a U.S. citizen or a resident alien for the entire tax year.
Not Filing as “Married Filing Separately”: If you are married, you generally cannot file as “Married Filing Separately” unless you meet specific conditions.
Investment Income Limit: Your investment income must be $11,000 or less for the 2023 tax year. This includes interest, dividends, capital gains, and rental income.
Qualifying Child Requirements (If Applicable): If you are claiming the EITC with a qualifying child, the child must meet certain age, residency, and relationship tests.
Residency: You must live in the United States for more than half the tax year.
Not Being Claimed as a Dependent: You cannot be claimed as a dependent on someone else’s return.

2.4. Special Rules for Clergy and Military Personnel

There are special rules for clergy and military personnel that can affect their eligibility for the EITC.

Clergy: Ministers and members of religious orders can include the value of housing and the housing allowance provided to them as part of their earned income. This can potentially help them qualify for a larger EITC.
Military Personnel: Combat pay that is otherwise nontaxable can be included in earned income for the purposes of the EITC. This can also increase the amount of the credit.

2.5. Utilizing the IRS EITC Assistant Tool

One of the best ways to determine your eligibility for the EITC is by using the IRS EITC Assistant tool. This online tool asks you a series of questions about your income, filing status, and family situation to help you determine if you qualify. It’s a free, user-friendly resource that can provide you with an accurate assessment of your eligibility.

3. Calculating the Earned Income Credit for the Self-Employed

Calculating the Earned Income Credit (EITC) can seem complex, but breaking it down step-by-step makes it manageable. For self-employed individuals, there are a few key factors to consider to ensure accurate calculation.

3.1. Determining Your Net Self-Employment Income

The first step in calculating the EITC is to determine your net self-employment income. This is your gross income from your business minus all allowable business expenses.

Gross Income: This includes all the money you receive from your business activities.
Allowable Business Expenses: These are the costs you incur to run your business, such as:
- Office supplies
- Rent for office space
- Utilities
- Advertising and marketing costs
- Vehicle expenses
- Business insurance
- Legal and professional fees

To calculate your net self-employment income, subtract your total allowable business expenses from your gross income.

3.2. Accounting for Self-Employment Tax

Self-employed individuals pay self-employment tax, which covers Social Security and Medicare taxes. You can deduct one-half of your self-employment tax from your gross income to arrive at your Adjusted Gross Income (AGI).

Calculate your self-employment tax liability using Schedule SE (Form 1040). This form helps you determine the amount of Social Security and Medicare taxes you owe.
Deduct one-half of this amount on Schedule 1 (Form 1040), line 15. This deduction reduces your AGI.

3.3. Calculating Your Adjusted Gross Income (AGI)

Your Adjusted Gross Income (AGI) is a crucial figure in determining your EITC eligibility and the amount of the credit. AGI is calculated by subtracting certain deductions from your gross income.

Start with your gross income (total income from all sources).
Subtract allowable deductions such as:
- One-half of self-employment tax
- Contributions to a traditional IRA
- Student loan interest
- Health savings account (HSA) contributions
The result is your AGI.

3.4. Using the EITC Tables to Determine the Credit Amount

Once you have your AGI, you can use the EITC tables provided by the IRS to determine the amount of your credit. The EITC tables are organized by filing status and the number of qualifying children you have.

Find the table that corresponds to your filing status (e.g., Single, Married Filing Jointly, Head of Household).
Locate the row that includes your AGI. The table will show the maximum EITC amount you can claim based on your AGI and the number of qualifying children you have.

For example, let’s say you are filing as Head of Household with two qualifying children, and your AGI is $45,000 for the 2023 tax year. According to the EITC tables, you may be eligible for a credit of up to $6,604.

3.5. Understanding the Investment Income Limit

In addition to meeting the AGI requirements, you must also meet the investment income limit to qualify for the EITC. For the 2023 tax year, your investment income must be $11,000 or less. Investment income includes:

Taxable and tax-exempt interest
Dividends
Capital gains
Rental income
Passive royalties

If your investment income exceeds this limit, you are not eligible for the EITC, regardless of your AGI.

3.6. Examples of EITC Calculation for Self-Employed Individuals

Here are a couple of examples to illustrate how the EITC is calculated for self-employed individuals:

Example 1: Single with No Qualifying Children

Gross Self-Employment Income: $25,000
Allowable Business Expenses: $8,000
Net Self-Employment Income: $17,000
Self-Employment Tax: $1,202.50 (approximately 15.3% of 92.35% of net income)
Deduction for One-Half of Self-Employment Tax: $601.25
Adjusted Gross Income (AGI): $16,398.75
Investment Income: $500
Filing Status: Single
Number of Qualifying Children: 0

Using the 2023 EITC tables, a single individual with no qualifying children and an AGI of $16,398.75 would be eligible for a credit of approximately $600.

Example 2: Married Filing Jointly with Two Qualifying Children

Gross Self-Employment Income: $60,000
Allowable Business Expenses: $15,000
Net Self-Employment Income: $45,000
Self-Employment Tax: $6,401.25 (approximately 15.3% of 92.35% of net income)
Deduction for One-Half of Self-Employment Tax: $3,200.63
Adjusted Gross Income (AGI): $41,799.37
Investment Income: $2,000
Filing Status: Married Filing Jointly
Number of Qualifying Children: 2

Using the 2023 EITC tables, a married couple filing jointly with two qualifying children and an AGI of $41,799.37 would be eligible for a credit of approximately $6,604.

4. Maximizing Your EITC as a Self-Employed Person

Maximizing your Earned Income Credit (EITC) can provide significant financial benefits for self-employed individuals. Strategic planning and careful attention to detail can help you claim the full credit you’re entitled to.

4.1. Keeping Accurate Records of Income and Expenses

One of the most important steps in maximizing your EITC is to keep accurate and organized records of your income and expenses. This ensures you can accurately calculate your net self-employment income and claim all eligible deductions.

Income Records: Keep track of all payments you receive from your business activities. This includes invoices, receipts, and bank statements.
Expense Records: Maintain detailed records of all business expenses, including receipts, invoices, and credit card statements. Categorize your expenses to ensure you don’t miss any deductions.
Accounting Software: Consider using accounting software like QuickBooks Self-Employed, FreshBooks, or Xero to track your income and expenses. These tools can help you stay organized and generate reports for tax purposes.

4.2. Claiming All Eligible Business Deductions

Claiming all eligible business deductions is crucial for reducing your net self-employment income and increasing your EITC. Common deductions for self-employed individuals include:

Home Office Deduction: If you use a portion of your home exclusively and regularly for business, you may be able to deduct expenses related to that space, such as mortgage interest, rent, utilities, and insurance.
Vehicle Expenses: You can deduct the actual expenses of operating your vehicle for business purposes or take the standard mileage rate. Keep detailed records of your mileage and expenses.
Business Insurance: Premiums you pay for business insurance are deductible.
Supplies and Equipment: Costs of supplies and equipment used in your business are deductible.
Education Expenses: Expenses for education that maintains or improves your business skills are deductible.
Retirement Contributions: Contributions to a self-employed retirement plan, such as a SEP IRA or Solo 401(k), are deductible.

4.3. Making Retirement Contributions

Contributing to a self-employed retirement plan not only helps you save for the future but also reduces your AGI, potentially increasing your EITC.

SEP IRA: A Simplified Employee Pension (SEP) IRA allows you to contribute up to 20% of your net self-employment income, with a maximum contribution of $66,000 for 2023.
Solo 401(k): A Solo 401(k) allows you to contribute as both the employee and the employer. As the employee, you can contribute up to $22,500 (or $30,000 if you’re age 50 or older) for 2023. As the employer, you can contribute up to 25% of your net self-employment income.
SIMPLE IRA: A Savings Incentive Match Plan for Employees (SIMPLE) IRA allows you to contribute up to $15,500 for 2023, plus an additional $3,500 if you’re age 50 or older.

4.4. Timing Income and Expenses

Strategic timing of income and expenses can also help maximize your EITC.

Defer Income: If you anticipate your income being higher in the current year, consider deferring some income to the following year.
Accelerate Expenses: If your income is lower in the current year, consider accelerating expenses by purchasing necessary equipment or supplies before the end of the year.

However, always make sure that these strategies align with sound business practices and don’t lead to unnecessary financial strain.

4.5. Avoiding Common Mistakes

Avoiding common mistakes is essential to ensure you receive the full EITC you’re entitled to. Common mistakes include:

Incorrectly Reporting Income: Make sure you accurately report all income from your business.
Failing to Claim Eligible Deductions: Review your expenses carefully to ensure you claim all eligible deductions.
Misclassifying Workers: Properly classify workers as either employees or independent contractors. Misclassifying workers can lead to penalties and affect your eligibility for the EITC.
Ignoring the Investment Income Limit: Keep track of your investment income to ensure it stays below the limit.

4.6. Seeking Professional Advice

If you find the EITC calculation process overwhelming, consider seeking professional advice from a tax advisor or accountant. They can help you navigate the complexities of the tax code and ensure you claim all eligible credits and deductions.

5. Claiming the EITC on Your Tax Return

Once you’ve determined your eligibility and calculated your Earned Income Credit (EITC), the next step is to claim it on your tax return.

5.1. Forms and Schedules Required

To claim the EITC as a self-employed individual, you will need to complete several forms and schedules:

Form 1040: U.S. Individual Income Tax Return
Schedule SE (Form 1040): Self-Employment Tax
Schedule C (Form 1040): Profit or Loss from Business (Sole Proprietorship) – or Schedule F (Form 1040) if you are a farmer
Form 8863: Education Credits (American Opportunity and Lifetime Learning Credits) – if you have qualifying children

5.2. Step-by-Step Guide to Filling Out the Forms

Follow these steps to accurately fill out the necessary forms:

Schedule C (or Schedule F):
- Report your gross income from your business.
- Deduct all allowable business expenses to calculate your net profit or loss.
- Transfer the net profit or loss to Schedule SE.
Schedule SE:
- Calculate your self-employment tax liability based on your net profit.
- Deduct one-half of your self-employment tax on Schedule 1 (Form 1040).
Form 1040:
- Report your total income, including your net profit from Schedule C (or Schedule F).
- Claim the deduction for one-half of your self-employment tax on Schedule 1.
- Calculate your Adjusted Gross Income (AGI).
- Use the EITC tables to determine the amount of your credit.
- Claim the EITC on Form 1040, line 27.
Form 8863 (If Applicable):
- Complete this form to claim education credits for your qualifying children.

5.3. Filing Options: Online, Mail, or Professional Assistance

You have several options for filing your tax return:

Online Tax Software: Use tax software like TurboTax, H&R Block, or TaxAct to prepare and file your return electronically. These programs can guide you through the process and help you claim all eligible credits and deductions.
Mail: You can download the necessary forms from the IRS website and mail them to the appropriate address. However, this method is slower and less accurate than filing electronically.
Professional Assistance: Hire a tax advisor or accountant to prepare and file your return. They can provide expert guidance and ensure you comply with all tax laws.

5.4. Importance of Accuracy and Completeness

Accuracy and completeness are crucial when filing your tax return. Errors or omissions can result in delays in processing your return, penalties, or even an audit.

Double-Check Your Work: Review all forms and schedules carefully to ensure accuracy.
Include All Required Information: Make sure you provide all required information, such as your Social Security number, filing status, and income details.
Keep Supporting Documentation: Retain all supporting documentation, such as receipts, invoices, and bank statements, in case the IRS requests them.

5.5. Avoiding Delays and Audits

To avoid delays and audits, follow these tips:

File Early: File your tax return as early as possible to avoid delays.
File Electronically: Filing electronically is faster and more accurate than filing by mail.
Report All Income: Report all income from your business, even if you don’t receive a Form 1099-NEC.
Claim Only Eligible Deductions: Only claim deductions you are entitled to and can substantiate with documentation.
Respond Promptly to IRS Inquiries: If the IRS sends you a notice or inquiry, respond promptly and provide all requested information.

5.6. Amended Returns

If you discover an error on your tax return after you’ve already filed it, you can file an amended return using Form 1040-X, Amended U.S. Individual Income Tax Return. Be sure to include documentation to support the changes you are making.

6. EITC and Other Tax Credits

The Earned Income Credit (EITC) can often be combined with other tax credits to provide even greater financial relief for self-employed individuals. Understanding how these credits interact can help you maximize your tax benefits.

6.1. Child Tax Credit

The Child Tax Credit is a credit for each qualifying child you have. For the 2023 tax year, the maximum Child Tax Credit is $2,000 per child. To qualify for the Child Tax Credit, the child must:

Be under age 17 at the end of the tax year
Be your son, daughter, stepchild, eligible foster child, brother, sister, stepbrother, stepsister, half-brother, half-sister, or a descendant of any of them
Not have provided more than half of their own financial support
Have lived with you for more than half the tax year
Be claimed as a dependent on your return
Be a U.S. citizen, U.S. national, or U.S. resident alien

6.2. Child and Dependent Care Credit

The Child and Dependent Care Credit is a credit for expenses you pay for the care of a qualifying child or other dependent so you can work or look for work. The qualifying person must be:

Under age 13 when the care was provided
Physically or mentally incapable of self-care

You can claim expenses up to $3,000 for one qualifying person or $6,000 for two or more qualifying persons. The credit is a percentage of these expenses, depending on your AGI.

6.3. Education Credits (American Opportunity and Lifetime Learning Credits)

If you, your spouse, or a dependent are pursuing higher education, you may be eligible for education credits such as the American Opportunity Credit (AOC) or the Lifetime Learning Credit (LLC).

American Opportunity Credit (AOC): This credit is for the first four years of higher education and can be worth up to $2,500 per student.
Lifetime Learning Credit (LLC): This credit is for courses taken to acquire job skills and can be worth up to $2,000 per tax return.

6.4. Coordinating the EITC with Other Credits

When claiming multiple tax credits, it’s important to understand how they interact with each other. Some credits are nonrefundable, meaning they can only reduce your tax liability to zero. Others, like the EITC, are refundable, meaning you can receive a refund even if you don’t owe any taxes.

Typically, nonrefundable credits are applied first, followed by refundable credits like the EITC. This can affect the amount of your refund.

6.5. Real-Life Examples of Combining Credits

Here are a couple of real-life examples of how self-employed individuals can combine the EITC with other credits:

Example 1:

A single mother with two qualifying children runs a freelance writing business. Her AGI is $35,000.
She is eligible for the EITC and the Child Tax Credit.
By claiming both credits, she can significantly reduce her tax liability and receive a substantial refund.

Example 2:

A self-employed contractor is pursuing a degree in business administration.
He is eligible for the EITC and the Lifetime Learning Credit.
By claiming both credits, he can reduce his tax liability and offset the cost of his education.

7. Common Pitfalls and How to Avoid Them

Navigating the Earned Income Credit (EITC) as a self-employed individual can be complex, and there are several common pitfalls to watch out for. Avoiding these mistakes can help ensure you receive the full credit you’re entitled to and prevent potential issues with the IRS.

7.1. Misclassifying Income and Expenses

One of the most common mistakes is misclassifying income and expenses. This can lead to inaccurate calculations of your net self-employment income and AGI.

Income: Ensure you report all income from your business, including cash payments, checks, and electronic transfers. Don’t forget to include income from side gigs or freelance work.
Expenses: Only deduct expenses that are ordinary and necessary for your business. Personal expenses are not deductible. Keep detailed records of all expenses and categorize them correctly.

7.2. Not Keeping Adequate Records

Failing to keep adequate records is another common mistake. Without proper documentation, you may not be able to substantiate your income and expenses if the IRS audits your return.

Keep Detailed Records: Maintain detailed records of all income and expenses, including receipts, invoices, bank statements, and mileage logs.
Organize Your Records: Organize your records in a systematic manner, either electronically or in paper files.
Back Up Your Records: Back up your electronic records regularly to prevent data loss.

7.3. Failing to Meet Eligibility Requirements

Failing to meet the eligibility requirements for the EITC can result in your claim being denied.

Income Limits: Ensure your AGI and investment income are within the limits for your filing status and number of qualifying children.
Qualifying Child Requirements: If you are claiming the EITC with a qualifying child, make sure the child meets all the requirements, including age, residency, and relationship tests.
Other Requirements: Ensure you meet all other requirements, such as having a valid Social Security number and being a U.S. citizen or resident alien.

7.4. Ignoring Changes in Tax Laws

Tax laws are constantly changing, and it’s important to stay up-to-date on the latest rules and regulations.

Follow IRS Guidance: Stay informed about changes in tax laws by following IRS publications, announcements, and guidance.
Seek Professional Advice: Consult with a tax advisor or accountant to ensure you are complying with all applicable tax laws.
Use Reliable Resources: Use reliable resources such as the IRS website, income-partners.net, and reputable tax publications to stay informed.

7.5. Overlooking Self-Employment Tax

Self-employed individuals pay self-employment tax, which covers Social Security and Medicare taxes. It’s important to accurately calculate and pay this tax.

Calculate Self-Employment Tax: Use Schedule SE (Form 1040) to calculate your self-employment tax liability.
Pay Your Taxes: Make estimated tax payments throughout the year to avoid penalties.
Deduct One-Half of Self-Employment Tax: Remember to deduct one-half of your self-employment tax on Schedule 1 (Form 1040).

7.6. Claiming the Wrong Filing Status

Claiming the wrong filing status can result in an incorrect EITC calculation.

Determine Your Correct Filing Status: Use the IRS’s Filing Status tool to determine your correct filing status.
Understand the Rules for Each Filing Status: Understand the rules for each filing status, such as Single, Married Filing Jointly, Married Filing Separately, Head of Household, and Qualifying Widow(er).

7.7. Not Responding to IRS Inquiries

If the IRS sends you a notice or inquiry, it’s important to respond promptly and provide all requested information.

Read the Notice Carefully: Read the notice carefully to understand the issue.
Gather Supporting Documentation: Gather all supporting documentation to support your claim.
Respond Promptly: Respond to the IRS by the deadline specified in the notice.
Seek Professional Assistance: If you’re unsure how to respond to the notice, seek professional assistance from a tax advisor or accountant.

8. Resources for Self-Employed Individuals

Navigating the Earned Income Credit (EITC) and other tax matters as a self-employed individual can be challenging. Fortunately, numerous resources are available to provide assistance and guidance.

8.1. IRS Website and Publications

The IRS website is a comprehensive resource for all things tax-related. It offers a wealth of information, including publications, forms, instructions, and FAQs.

IRS Website: www.irs.gov
IRS Publication 596: Earned Income Credit (EITC)
IRS EITC Assistant: An online tool to help you determine your eligibility for the EITC

8.2. Tax Preparation Software

Tax preparation software can simplify the process of filing your tax return and claiming the EITC.

TurboTax: A popular tax preparation software that offers guidance and support throughout the filing process.
H&R Block: Another well-known tax preparation software that provides tools and resources to help you file accurately.
TaxAct: A cost-effective tax preparation software that offers a range of features for self-employed individuals.

8.3. Professional Tax Advisors and Accountants

Consulting with a professional tax advisor or accountant can provide personalized guidance and support.

Certified Public Accountants (CPAs): CPAs are licensed professionals who can provide tax advice, prepare tax returns, and represent you before the IRS.
Enrolled Agents (EAs): EAs are federally licensed tax practitioners who can also provide tax advice, prepare tax returns, and represent you before the IRS.
Tax Attorneys: Tax attorneys can provide legal advice on tax matters and represent you in tax disputes.

8.4. Free Tax Preparation Services

Several organizations offer free tax preparation services to low- and moderate-income individuals.

Volunteer Income Tax Assistance (VITA): VITA is an IRS-sponsored program that provides free tax preparation services to eligible individuals.
Tax Counseling for the Elderly (TCE): TCE is another IRS-sponsored program that provides free tax counseling and preparation services to individuals age 60 and older.

8.5. Small Business Administration (SBA)

The Small Business Administration (SBA) offers resources and support to small business owners, including information on taxes and financial management.

SBA Website: www.sba.gov
SBA Learning Center: Online courses and resources on various business topics, including taxes.