FlyFin Unveils Free 1099 Tax Calculator to Help Filers with Self-Employment Tax

Free tax calculator simplifies estimated taxes due for quarterly or annual tax returns for 1099 self-employed

SAN JOSE, CA., March 21, 2022 /PRNewswire/ — FlyFina fintech provider, has unveiled a free 1099 income tax calculator ideal for people who receive 1099 forms. Powered by FlyFin’s proprietary AI and ML technology, FlyFin’s 1099 tax calculator allows 1099 freelancers to quickly calculate their quarterly or annual income taxes due. People who receive 1099 forms are freelancers, contractors, independent contractors, gig workers, freelancers, and workers in the creative economy. To use the Free Self-Employed Tax Calculator, a self-employed person must download and install FlyFinand spend 10-15 minutes to get a self-employment tax rate and calculation. FlyFin directly tackles the tax preparation issues of 1099 self-employed and independent contractors, including accounting and tax uncertainties and knows which 1099 deductions are eligible. With FlyFin, users can meet deadlines to avoid tax penalties.

Form 1099: what, when and why

A Form 1099 is a record that an entity or person reports about money paid to an individual during the tax year. Businesses or businesses make payments for rent, services provided, attorney fees, interest and dividends to investors, prizes and awards, or other income payments. When these payments are at least $600the IRS requires the trade or business (payor) to complete a 1099 MISC form and send copies to the person and the IRS – usually before January 31for the previous year’s income.

FlyFin: like the autopilot for your taxes

FlyFin helps users control their expenses as they arise throughout the year. FlyFin’s ongoing expense tracking is a fundamentally different paradigm shift for the tax preparation industry that focuses on an annual basis. FlyFin’s Man + Machine tax engine runs in the background 24/7/365, automatically analyzing expense accounts daily to suggest which category to classify each expense based on occupation. FlyFin’s IA and CPAs find all possible tax deductions for self-employment. Users also have access to the domain expertise of tax CPAs, who review each self-employed 1099’s tax information and provide expert assistance in maximizing 1099 tax deductions. Users have the ability to consult with the CPA team of FlyFin in the app and have its CPAs file their taxes for only $192. FlyFin guarantees 100% accurate tax return review and preparation, or users can also export their data in an IRS-ready format.

About FlyFin

FlyFin is an AI-powered SaaS platform that provides freelancers, contractors, independent contractors, gig workers, freelancers, and workers in the maker economy with a convenient tax filing solution , easy to use and affordable. FlyFin helps individuals maximize self-employed tax deductions and income tax refunds. FlyFin’s “Human + Machine” approach leverages the power of AI combined with CPA expertise to deliver automation that eliminates 95% of the work needed for 1,099 self-employed people to prepare their taxes, with a return of revenue led by world-class CPAs. FlyFin is a private venture capital backed company based in San Jose, California.

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Esther L. Steinbach