All Questions
Tagged with self-employment schedule-c
10
questions
3
votes
1
answer
497
views
What Schedule C Health care Expenses can I deduct?
I am helping my daughter do her taxes, and have a question about what deductions are appropriate.
She is on her own, not a dependent anymore but still on my insurance as she's under 26. Her income is ...
4
votes
1
answer
724
views
Is a purchase still a Schedule C expense if its paid using a gift card?
I've made an Amazon purchase for my business (self-employed) solely using an Amazon gift card which I received for non-business reasons. Does this still qualify as a business expense on my tax return?
- 165
3
votes
1
answer
122
views
For purposes of US Income taxes: Is delivering for Uber and DoorDash two businesses?
Consider a person who transports people around (for a fee) and gets the riders via Uber. The same person also delivers food for DoorDash. They are not incorporated but they are considered self-...
- 1,521
2
votes
2
answers
132
views
What are the tax implications if I share single credit card processor between my two sole proprietorships?
Can someone who has 2 sole proprietorships share a single credit card processing device to save on processing fees? What would be proper way to file taxes in such case?
Basically, my concern is that ...
- 709
6
votes
1
answer
1k
views
Taxes overpaid when alive; file amended return after death?
While collecting data to file a return for someone who is deceased, I discovered a significant deduction that was repeatedly not claimed in previous years. Specifically, health insurance on Schedule C....
- 511
1
vote
1
answer
108
views
Self-employed: Claim health insurance on both Schedule A and on 1040 Line 29?
Situation: Tax return for someone who died. They were self-employed with a net profit and with itemized deductions that are worth more than the standard deduction.
The insurance expenses are more ...
- 511
2
votes
1
answer
134
views
US Self-Employment Tax: Do expenses stack with the 50% SE deduction?
With the primary form 1040, for salaries/wages, things are explained fairly straight forward: you deduct a Personal Exemption, and you deduct EITHER a Standard Deduction OR an Itemized Deduction of ...
- 187
4
votes
1
answer
213
views
Schedule C: where to deduct service fees on income?
I earn most of my income through a freelancing website which charges a "service fee" (their terminology) on all income I earn through the site. The website acts as the intermediary during payment and ...
- 529
2
votes
1
answer
1k
views
Business service doesn't exist on tax form. What do you do?
I am a freelancer. I am expected to put a code into the instructions on my 1040 Profit or Loss taxes, but none of the workcodes they list pertain to my specific area of work. If my service is none of ...
user51746
4
votes
2
answers
5k
views
Formation of S-Corp for Gambling Trade
Does anyone have personal experience with incorporating an S-Corporation for the gambling trade?
In cases where the gambling activity is consistent and produces sufficient income (versus, say, an ...
- 119