Tax concerns for the self-employed

Taxes: Self-Employment

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Taxes: Audits

Taxes: Capital Gains & Losses

Taxes: Charitable Giving

Taxes: Children

Taxes: Deductions, General

Taxes: Dependents

Taxes: Education

Taxes: Employment

Taxes: Estates & Inheritances

Taxes: Gifts

Taxes: Healthcare

Taxes: IRS Debt

Taxes: Marriage

Taxes: Mortgages

Taxes: Planning

Taxes: Preparation & Filing

Taxes: Property Taxes

Taxes: Record Keeping

Taxes: Refunds

Taxes: Rental Property

Related Topics

Investments: Taxes

IRAs and Retirement Plans: IRAs and Taxes

Deducting your home office costs


Whether you are self-employed or an employee, if you use a portion of your home for business, you might be able to deduct the associated costs. A home office deduction is generally easier for self-employed individuals to claim. But even then, the Internal Revenue Service has certain requirements a taxpayer must meet.

New, simpler way to claim home office deduction


If you use a home office for your business, it can save you a lot of money at tax time. It also can be a filing hassle, a record-keeping bother and a constant concern that your tax return will be audited because of your residential workspace tax claim. Now, however, some of those concerns have been eased, thanks to the simplified home office deduction. The bottom line is that while the new home office deduction is easier for some filers, it's not as universally simple as its name might suggest.

How to Pay Tax when You Make Money on the Side


"I have a full-time job, but I also did some contract work last fall and got a check ($5,700). I know I need to pay taxes on that income, but I am not sure if I need to pay estimated taxes right now or if I can wait until I file my tax return in February. Should I just increase my withholding on my part-time job until then? Does it make sense to increase withholding or pay estimated tax?"

The Small-Business Owner and the Taxman


Small-business owners want to hear from lots of people -- except for Uncle Sam. If it's your business, then it's your business to hire a capable accountant to manage your tax filings and returns. In this interview, Eli C. Bortman, lecturer in business law at Babson College, discusses the structuring of small businesses and keeping the Internal Revenue Service happy.

The Skinny on Paying Estimated Taxes


If you have income that isn't subject to withholding taxes, then you probably should be paying estimated taxes. It doesn't matter whether the untaxed money comes from a job, investments, alimony or prizes you've won. If Uncle Sam doesn't get his share close to the time you received the money, you could end up owing not only taxes but also penalties and interest.

Tax Breaks for Small Businesses


Are you looking for a new business partner? Consider Uncle Sam. The federal government offers a wide variety of tax breaks that could help your business not only survive, but thrive. Some of the business tax breaks have been around for years. Others are new. More were added or enhanced under the Small Business Jobs Act that became law in the fall of 2010.

How to Lower Business Income and Taxes


There are many things that you can do to lower your income as a C corp. Which one is right for you and your plans can best be decided by consulting with a professional.

How an S Corporation Officer Gets Paid


"Can an officer of an S corporation receive a 1099? What is the best way to determine personal income if an officer is not on payroll and draws from the business account?"

Am I an Employee or a Contractor?


"I presently work for two attorneys who treat me like an employee, (i.e., ask me to come to work at a certain time, monitor how my work is done, pay me sick and holiday pay). But they do not withhold taxes from my check, have no workers' compensation, and generally are getting away with murder. What can I do about this? I like the job but they have put me in a bad position."

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