Form 4562 for claiming a depreciation or amortization deduction. 6. Work the deductions One of the smartest things a self-employed person can do is make the most of available tax deductions.

How To File Taxes If you decide to file your taxes without the help of a professional, take the following steps to complete your tax return: Assemble your tax documents, such as your W-2 or any 1099s.

CNBC Select explains how to file your taxes safely and accurately to avoid mistakes, penalties and scam artists.