New to Self-Employment Taxes? Key Terms Every Schedule C Beginner Needs

In this beginner-friendly video, I explain core self-employment tax concepts including net profit, self-employment tax, estimated payments, business expenses, and Schedule SE. If you freelance, drive for rideshare apps, or run a side business, understanding these tax terms will make filing your return much easier. We break down how Schedule C works, how self-employment tax is calculated, what ordinary and necessary expenses mean, and why estimated taxes matter for freelancers and independent contractors. This video is part of the Tax Terms and Self-Employment beginner series designed for gig workers, freelancers, independent contractors, and first-time Schedule C filers who want clear, accurate tax education. #taxes #taxeducation #taxpreparation Chapters 00:00 Self-Employment Tax Basics — Introduction 01:09 Net Profit Explained (Schedule C Line 31) 01:57 How Schedule SE Works — Self-Employment Tax Overview 02:23 Estimated Taxes for Freelancers and Gig Workers 03:05 Ordinary and Necessary Business Expenses (IRS Rules) 05:02 Schedule C Overview — Where Business Income Goes 05:25 Mileage Deduction Explained (Vehicle Expenses) 06:07 Advertising and Marketing Expenses 07:16 Software, Subscriptions, and Digital Tools About Brian Winrow Brian Winrow is a tax attorney and educator with extensive experience in taxation, accounting, and business. He holds a J.D., LL.M. in Taxation, DBA, MAcc, and MBA, and is licensed to practice before the U.S. Tax Court. He also maintains active professional certifications in taxation and fraud examination. Brian teaches undergraduate and graduate-level tax and accounting courses and focuses on making complex tax concepts easy to understand. He is the founder of Winrow Tax Services, where he works with individuals and businesses on a wide range of tax matters. If you're interested in working with Brian or learning more about his tax practice, you can visit Winrow Tax Services at www. winrowtax.com. Have Questions? Leave them in the comments! I post regular tax education videos designed to make difficult concepts simple and accessible. If you are seeking to become a client, please direct your questions to [email protected] as opposed to leaving them in the comments.