AARP Foundation Self-Saver Allows People To Take Control Of Self-Employment Taxes

New online tool lets older entrepreneurs and freelancers withhold and submit quarterly taxes automatically

Beta launch yields more than 7,000 participants

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Dec 19, 2019, 11:58 ET

WASHINGTON, Dec. 19, 2019 /PRNewswire/ -- For entrepreneurs and freelancers who struggle with quarterly taxes, help is here. AARP Foundation has launched AARP Foundation Self-Saver, an online resource and iOS app that enables the self-employed to anticipate and manage large expenses such as taxes.

Self-Saver is an all-in-one tool 1099 earners can rely on to calculate taxes, itemize expenses, automatically withhold the right amount of tax and submit quarterly filings to the IRS. The convenient, streamlined process makes it easy for users to get a handle on self-employment taxes.

"When I approached it on my own, it was overwhelming," said solopreneur Connie Johnson, who was close to retirement when she was laid off and began working for herself. "But within a couple of months of using Self-Saver, I was caught up. Now I'm totally on track and excited about it." Johnson is one of the more than 7,000 people who have joined the platform since its beta launch in summer 2019.

"Older adults are the fastest growing segment of new entrepreneurs, and their numbers are expected to keep rising," said Lisa Marsh Ryerson, president of AARP Foundation. "Self-Saver eases some of the challenges of self-employment, giving older adults greater control over their financial future coupled with a secure, streamlined process."

Self-Saver is powered by Track, a secure provider of tax management technology and platforms registered with the IRS. Track ensures that user withholdings are held in an FDIC-insured account, and that all data is protected and secured with bank-grade data encryption. Self-Saver is currently being offered free of charge to users who download the iOS app or sign up online before April 15, 2020.

For more information, visit AARP Foundation Self-Saver.

About AARP Foundation
AARP Foundation works to end senior poverty by helping vulnerable older adults build economic opportunity and social connectedness. As AARP's charitable affiliate, we serve AARP members and nonmembers alike. Bolstered by vigorous legal advocacy, we spark bold, innovative solutions that foster resilience, strengthen communities and restore hope.

Visit aarpfoundation.org to learn more.

SOURCE AARP Foundation