This is my first year being an independent. I am single, no kids, I rent my own home and do not own my own business. I was going to do the EZ file which I have done in the past, but I am a teacher now and I heard there is a pretty big bonus for being a teacher and if I file myself theres no way to check that off. Then I was going to do turbotax online and do the version where I can choose from a list of deductions. I just cant afford to pay h&r block or any of those guys…they are waaayyy to expensive. Any suggestions? thanks.

i work on commission at a salon, and filed my taxes. my preparer said im considered self employed and filed a schedule c, and i am now getting audited….i dont own my own business, and although i do blame myself for signing something i had no knowledge of what it was, what can i do? its basically my preparers fault, for making a mistake. i had no deductions that year they are now asking for receipts, logs, bank statements, and bills….im stressed because i dont own the business…any advice?

When I asked my employer if she was I was getting paid as if I were single with out dependents she said well do you have someone who does your taxes? I did not understand why she asked and said yes. Then she said thats where I claim my dependents. I do not think she understands that the more dependents the less money I will get withheld. I am in a small dental office that is new and just opening. The doctor pays with her own checks but on a sheet of paper marks the percentage of all my deductions. It is her first time being an employer, her first time opening and running her own business.

My question is how I explain to her that I want to get paid as if I had two dependents. I have two children. I get so much taxes taken off I need to either get another job or replace that one.

My hubby started his own business and i have been attempting to find out exactly what the necessary information needed on a legal Pay stub would be. Can anyone tell me the vital info that HAS to be on it? I have all the deduction info for EI, CPP, Federal tax ect, dates, names or employee and employer, province of employment, pay period, gross/net income. Am I missing anything important? Does the Social Security # have to be on it?

my boss runs his own business. I know that health insurance is expensive, but was wondering if I could get health insurance through him. Are there any health insurance companies that work with business owners to get benefits for their employees? Could it possibly be a tax write off or deduction if he got me health insurance? I certainly do not make enough money to have insurance on my own, but do not qualify for any help from the gov’t.

Any websites on information about this would be helpful so I could put together a little package to show him. I’d like to ask him about it within the next few weeks. Thanks!!

Can anyone give me some good advice? I’m single, 25 and live in Oregon. I have worked for a real estate investment company since August 2005. I get paid at the end of the year through a 1099-Misc. I will gross around k this year. I know that deductions will help with reducing my taxes, but is there any reason for me to start my own business and have my employer pay my business instead of me, to help reduce all the taxes that I will end up paying to the Feds and State?
I would appreciate any advice!
Thank you much!

I just started my own business last year.I didnt make any real profit. With tools and vehicle costs and all the things associated with starting a new business. will i get money back if i havent paid any taxes? Does my regular deductions qualify me for a rebate?
i have paid state taxes on thousands of dollars of materials and equipment and will have several 1099′s. i just have so much to offset any profit.

I am contemplating shutting down my sole proprietorship and joining another company as a W2 employee.

Having my own business affords me some benefit in the form of deductions/expenses (i.e. I deduct a portion of our mortgage for home office, one of our cars, gas, insurance etc.)

In closing up shop and joining another company, is there a way that I can continue to take some of these deductions (a portion of mortgage, phone bill etc.)? Or does the fact that I no longer have my own formal company preclude me from such deductions when I file my income taxes?

Ok I need to know more about the social security taxes. When you are working for someone, I know that the employer pays half of the medicare and social security taxes. Iam tryin to understand how does this work when you are self-employed(running ur own business), I read in the book that the IRS allows you to take half the amount as tax deduction on FORM 1040–I need some more clarification on what it means.

I bought 2 Amazon gift cards from Craigslist seller and I paid him in cash. I used them to buy two books that are tax deductible because they’re both work-related. The problem is that on the Amazon invoice, only a small fraction of the price is showing in big bold letters as the ‘Grand Total’, and the rest is part of the gift certificates.

Since I don’t have an invoice for the gift cards, could I have a problem if I add the whole amount as a deduction? How should I declare those two books.

Info: I’m the sole-proprietor of my own business and I use Schedule-C.