# @loganallec on YouTube

- **Type:** Video
- **Original URL:** https://youtube.com/watch?v=qsoZ0SZ0wuQ
- **Gondola URL:** https://gondola.cc/posts/69469283-loganallec-youtube
- **Thumbnail:** https://img.gondola.cc/tr:w-,h-,fo-auto/postThumbnails/ea06107488.jpg
- **Posted:** 2026-08-11T07:31:26.000+00:00
- **Account Owner:** Logan Allec (@loganallec) — https://gondola.cc/loganallec

## Caption

Confused about sole proprietorship taxes after starting your first business? In this video, CPA Logan Allec explains how taxes work for a new sole proprietor—including how to report your business income, make quarterly estimated tax payments, and keep track of your business expenses.

You’ll learn:

- Whether you need to notify the IRS that you are a sole proprietor
- How business income and expenses are reported on Schedule C
- When quarterly estimated tax payments are generally due
- How to make an estimated tax payment to the IRS
- Why you may also need to make state estimated tax payments
- Whether a spreadsheet is enough for your bookkeeping
- Why opening a separate business bank account can make tax preparation much easier
- How bookkeeping software such as QuickBooks can help categorize transactions
- How Schedule C income eventually flows onto your Form 1040
- Why in-home daycare providers should understand the special home-office deduction rules

Sole proprietorship taxes can feel overwhelming when you have always worked as a W-2 employee. The key is to separate your business and personal transactions, maintain accurate records, understand your estimated tax obligations, and prepare for Schedule C at tax time.

The business bank account Logan uses: https://loganallec.com/business-bank-account/

This video is for general educational purposes and is not individualized tax advice.

#SoleProprietorshipTaxes #SoleProprietor #SmallBusinessTaxes #ScheduleC #EstimatedTaxes #QuarterlyTaxes #SelfEmployedTaxes #TaxTips

## Stats

- **Views:** 119
- **Likes:** 6
- **Shares:** 0
- **Comments:** 0

## Tags

soleproprietor, quarterlytaxes, soleproprietorshiptaxes, selfemployedtaxes, taxtips, schedulec, estimatedtaxes, smallbusinesstaxes

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