How to File Your 1040 Individual Tax Return [Step-by-Step]

Today, I will walk through how to file your taxes with the 1040 Individual Tax Return [step-by-step]. You see the tax code and IRS are very simple. They want to know who you are and how much you made, so they can determine what percentage should go towards tax payments.
Tax Services: bit.ly/3iC6FCI
Subscribe: bit.ly/2HJlq46
Because the tax code is over 70,000 pages long which can be confusing and overwhelming for the average person.
So in this video, I will walk you through
- Quick Overview of Tax Brackets
- What Forms to Complete
- How to Fill Them Out
And I’ll go through everything step-by-step, so it's important that you don’t skip around and watch until the end.
Timestamps
Intro (0:00)
Step #1 (1:35)
Step #2 (2:52)
Step #3 (4:25)
Mistake #4 (7:00)
Mistake #5 (7:40)
Mistake #6 (8:25)
Mistake #7 (9:02)
Helpful tools I use:
- Quickbooks (for Bookkeeping): bit.ly/3ATx1F3
- ZenLedger (Crypto capital gains tax tool): bit.ly/3Lgabwf
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Disclaimer: The information provided in this video is for informational purposes only and is not meant to take the place of professional legal, accounting, or financial advice. If you have any legal questions about this video or the subjects discussed, or any other legal matter, you should consult with an attorney or tax professional in your jurisdiction (i.e. where you live).

[@FinancialFreedomMadeSimple]

Thank you for this information Sean!

[@RealJoshBinder]

This makes doing taxes so much simpler --- thanks!!!

[@mulamesha1138]

Thank you thank you thank you ! Your steps were better than my training for the IRS 😅

[@rocknthefro]

Thanks for this video, which irs form would you use if you are under 65 and on SSDI. Thanks

[@converse67]

How do dependents come into play? Are they considered as deductions and if they are, do they reduce your taxable income whether you are using standard or itemizing deductions?

[@timetravelere1208]

Can tps holder file federal taxes as resident?

[@juanrubio9815]

Your tax services are pricey but learning from you rn, I'd be able to afford it next year no problem.

[@LYFEAccounting]

Hey Juan, yeah I understand. That's why I made this video, so I could summarize it for those who can't or simply want to DIY. How do you plan to file this year?

[@juanrubio9815]

Free service I found on the irs website, is that ok to use ? Or should I do it my self? I have only w4 to report.
Thanks for the information and the videos you supply. 😀

[@neithodges8313]

What about working for a rideshare or delivery on side and working a regular job at say a restaurant? What tax forms should I feel and what deductions can I make as an independent contractor with one dependent?

[@LYFEAccounting]

You need to watch this ua-cam.com/video/ht22jVBoQx4/v-deo.html

[@user-ie6ss2fk3j]

Form 1099 @@LYFEAccounting