Tag Archives: Schedule C

Self-employed taxpayers are those who freelance, own their own business, or work on contract. Self-employed individuals have certain tax requirements that they must meet. If you are self-employed, you should be aware of these requirements when you file your federal income tax return. The IRS offers six different pieces of advice about how to correctly […]

If you are self-employed or a contract employee you will have likely received a Form 1099-MISC at some point. Even if you are not self-employed for the whole year you will still receive a 1099-MISC for any client or company who paid you more than $600. In simple terms this form is like a W-2 […]

If you work from home there are some new options for claiming home office deductions making the process simpler and saving you time. Starting this tax year the IRS has simplified the process of claiming deductions when you use your home as a business, not only does it make it easier but it will help […]

Common Business Deductions

As a business professional, you’re likely aware of the many deductions that you may be entitled to when filing your tax return. Almost anything you buy for the business can be deducted, as long as it is necessary to the business. Also, the cost has to be sensible. For small businesses, the deductions can really […]

Party Like It’s 1099

You can’t escape the IRS. No matter what your job, even if you’re an independent contractor, the IRS wants you to pay your taxes, and they will find a way to make sure they get their money. Thanks to the Form 1099-MISC, independent contractors can file their taxes and avoid scrutiny from the IRS. The […]