For other Form 1040 tutorials, see our playlist below:
[ Ссылка ]

If a U.S. taxpayer is self-employed, they must report their income and expenses on Schedule C of Form 1040. The earnings are subject to both self-employment taxes and federal income taxes.

In this video, we will cover the following:

1. Sole proprietorships and single-member LLCs.
2. Home office expenses
3. Auto expenses and mileage reimbursements
4. Schedule SE tax worksheets
5. Limitations on deductions

For a larger database of tutorials, please visit our website and search for your question:
[ Ссылка ]

DISCLAIMER: The information provided in this video may contain information about tax, financial, and legal topics. Such materials are for informational purposes only and may not reflect the most current developments. These informational materials are not intended, and should not be taken as tax, financial, or legal advice. You should contact an advisor to discuss your specific facts and circumstances. Self-help services may not be permitted in all states or jurisdictions. The use of these materials does not create an attorney-client or confidential relationship. This video does not include information about every topic or issue related to these informational materials.

#Taxes #IRS #ScheduleC #SelfEmployed

свернуть