How to file taxes for the first time?

M

Michael

Member
I’m filing my taxes for the first time, and I have no idea where to start. I started working full-time last year and just got my W-2, but I’m not sure what to do with it. Do I need any other documents?

Also, where do I actually file my taxes? I don’t own a business, but I made about $2,000 from a side hustle do I need to report that?

I just want to make sure I do everything correctly and don’t miss anything important.

Any advice (explained in simple terms) would be really helpful. Thanks in advance!
 
Shows your income and how much tax was already withheld by your employer. Turbotax or H&R Block these are user-friendly but may charge fees especially for employment income
 
Yes, u have to report side income over $400 if u were self-employed (even if it was a small gig). If i got paid via apps like venmo, cashapp, or paypal
 
Filing for the first time can feel overwhelming but you’ve got this! since you have a W-2 you can file using tax software like TurboTax, H&R Block, or FreeTaxUSA, or go through a tax pro. You’ll also need to report your $2,000 side hustle income .
If you had any major expenses for your side hustle you might be able to deduct them to lower your taxable income. The IRS Free File option is available if you make under a certain amount. You’ll file your taxes through IRS.gov or a tax prep service before the April deadline
just take it step by step and you’ll be fine
 
Filing for the first time can feel overwhelming but you got this! Youll need your W-2 and any 1099s for side income and yep the $2,000 should be reported. You can file online through IRS Free File or use tax software like TurboTax to make it easier
 
Since you have a W-2 and side hustle income, you'll likely need to file a 1040 form and report your extra earnings usually on Schedule C if it's self-employment.
 
Filing for the first time can feel overwhelming but it’s not too bad once you break it down:
-Gather your stuff – Your W-2 from work and any 1099s if your side hustle clients sent them. If you didn’t get a 1099 but made $2,000 u still need to report it
-Pick how you’ll file – You can use IRS Free File (if you made under $79K), tax software like TurboTax, H&R Block, or go to a tax pro if you want extra help
-Report your income – Your W-2 goes on your main tax form (1040), and the side hustle goes under self-employment. You might owe self employment tax, but don’t stress it’s normal
-File by April 15 – The sooner the better especially if you’re getting a refund. Filing online is fastest, and if you owe, you can set up a payment plan
 
You still need to double-check everything and make sure your information is accurate, but the software really does most of the work. It’s like having a guide holding your hand through the whole process.

Looking back i wish i hadn’t stressed so much filing taxes isn’t nearly as scary as i thought it would be thanks to these tools.
 
Filing for the first time can feel overwhelmingbut it’s not too bad
Since you have a W-2 you can use free tax filing software like TurboTax, H&R Block, or even the IRS Free File if you qualify.
 
Totally understandable...it can definitely feel overwhelming at first! Your W-2 is the main document you'll need. Using a user friendly service like TurboTax or H&R Block online can make this easier.....they’ll guide you through each step simply and clearly. Basically you'll enter the information from your W-2 and they'll tell you what to do next. Also keep an eye out for deductions like the things that could lower your taxes.
 
Bro just upload your W-2 into TurboTax and let it cook. It literally walks u through everything. side hustle money too?
U will probably need a 1099 form or just manually enter it.
 
I always recommend FreeTaxUSA if u r comfortable doing it yourself. It’s free for federal filing and cheaper than the big names for state. Plus it actually explains stuff.
 
Don't stress. U probably only need:
  • W-2 from your job
  • Any 1099s
  • Bank interest if you earned over $10
Then use IRS Free File if your income is under $79K
 
Yes u do need to report that $2,000 from your side hustle. Even if it's not a full-on business, the IRS still wants to know. You’ll probably need a Schedule C and Schedule SE for self-employment tax. But don’t panic tools like TurboTax or FreeTaxUSA walk you through it step by step.
 
You must log in or register to reply here.
Back
Top