If you have business income as an independent contractor, gig worker, or sole proprietorship, you’ll need to include Schedule C with your personal tax return.
1099 Taxes
Deductions ↗ Tax Guides ↗IRS Form 1099-K
With the requirements to get a 1099-K Form changing to receiving $600 or more in payments, there’s a much greater chance that you’ll have your payment transactions reported to the IRS. Does this mean you have to report those payments on your tax return? If so, what deductions can you take?
1099-K and 1099-NEC Overlap
Many contractors have problems with clients issuing a 1099-NEC when the payments also get reported on a 1099-K. You may need to know:
- How to file your taxes if your income gets double reported.
- How to respond to the IRS if they think you didn’t report all of your income.
Can Delivery Drivers Write Off Gas?
If you’re a rideshare or delivery driver, gas will be one of your biggest expenses. It’s also going to be one of your biggest tax
Craft Fair and Flea Market Vendor Tax Guide
Are you planning to sell at a flea market or craft fair? Here’s what you need to know about taxes.
Attorney Tax Guide: Tax Deductions for Solo Attorneys in 2022
Whether you’re newly licensed or are looking to start your own law firm, the IRS will want its cut. And unfortunately, the rule that says you can’t share fees with non-lawyers doesn’t apply to Uncle Sam. Here’s what you need to know to plan ahead and what tax deductions you can use to reduce what you owe.
Is Unpaid Rent Tax Deductible for a Landlord? It Depends
If you’re a landlord who has tenants who aren’t paying, you may be wondering if you can deduct unpaid rent. It depends on how you keep your books and usually recognize rental income.
Courier Driver Tax Deductions: 11 Deductions to Reduce Your Taxes
Nobody likes to pay more taxes than they have to. If you make sure to claim all of your business expenses, you can reduce what you owe or even get a refund at tax time. Here are the top tax deductions a courier driver can take.
Do Independent Contractors Qualify for the QBI Deduction?
The Qualified Business Income deduction or QBI deduction is an automatic 20% income tax deduction on your income taxes. The answer to do independent contractors qualify for the QBI deduction is usually yes.
