Can I do my own taxes if I have a side hustle or do I need an accountant?

Tax preparer here - your situation is actually pretty straightforward. You can definitely do this yourself. **What your situation involves:** 1. W-2 income (easy - your employer sends the form) 2. Self-employment income from Etsy (Schedule C) 3. Self-employment tax (15.3% on net profit) 4. Quarterly estimated taxes (maybe - see below) **Can TurboTax handle this?** Yes, but use TurboTax Self-Employed version, not the free one. It walks you through Schedule C and deductions. H&R Block online works too. **What you need to track:** **Income:** - Etsy will send you a 1099-K if you made over $600 - Track ALL income even if no 1099 **Expenses (deductible):** - Etsy fees - Materials/supplies - Shipping costs - Packaging - Home office (if dedicated space) - Business portion of phone/internet - Advertising costs - Tools/equipment **Important: Estimated taxes** If you owe more than $1,000 at tax time, IRS wants quarterly payments. At $800-1200/month, set aside about 25-30% for taxes. **When to hire a CPA:** - Income over $50-75k from side hustle - You want to form an LLC or S-Corp - You have inventory and COGS to track - You're getting audited **For your first year at $10-15k?** Save your money. Use TurboTax Self-Employed (~$120), track expenses in a spreadsheet, and you'll be fine. Audit risk at your income level is extremely low. Just report everything accurately.