Do I have to deduct business expenses?

[CG2]

Hello,

If my refund goes down with the amount of business expenses I enter, do I have to enter my business expenses? 

Thanks

[DoninGA · Accepted solution]

Yes, you are required to enter all of your business expenses and all of your business income. 

Failure to enter the expenses may enable you to receive tax credits and a refund you were not eligible to receive which is tax fraud.

[xmasbaby0]

@CG2 Based on the couple of questions you have posted recently it seems you might be very new to self-employment and need to learn some important things.   It is up to you to keep good records of your business expenses and of your income and report them accurately when you prepare your tax return.   It might be tempting to under-report your expenses in order to "beef up" your earned income credit, but that is fraudulent--do not do that.   

https://ttlc.intuit.com/questions/2926899-how-does-my-side-job-affect-my-taxes

https://ttlc.intuit.com/community/self-employed/help/how-do-i-report-income-from-self-employment/00/...

https://ttlc.intuit.com/community/self-employed/help/what-is-the-self-employment-tax/00/25922

https://ttlc.intuit.com/questions/2902389-why-am-i-paying-self-employment-tax

https://ttlc.intuit.com/questions/1901340-where-do-i-enter-schedule-c

https://ttlc.intuit.com/questions/3398950-what-self-employed-expenses-can-i-deduct

https://ttlc.intuit.com/questions/1901110-do-i-need-to-make-estimated-tax-payments-to-the-irs

[CG2]

Thanks! Actually, I’m not new to it. However the laws do keep changing which leads me down new investigative paths!

Which still leaves my question on my other thread unanswered. If you have any insight on this specific question, I’d appreciate it!