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I have a full time job and I decided to start a mowing business this year.I have my business license as well.I have all receipts from my equipment to my gas purchase and after my mowing season ended f
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I have a full time job and I decided to start a mowing business this year.I have my business license as well.I have all receipts from my equipment to my gas purchase and after my mowing season ended f
If you run a small business as an independent contractor, freelancer, single-member LLC and you also have W-2 income, you'll need to use one of the following versions.
- If filing online, TurboTax Self-Employed or TurboTax Live Self-Employed.
- If filing using the TurboTax CD\Download version, you may use Deluxe, Premier or Home & Business. Note, the higher the price, the more assistance you'll receive from the software.
- What's the difference between TurboTax Online and the TurboTax CD/Download?
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I have a full time job and I decided to start a mowing business this year.I have my business license as well.I have all receipts from my equipment to my gas purchase and after my mowing season ended f
Just fair warning, don't be shocked at the amount of additional tax you may owe.
Starting your own business requires a good understanding of the tax implications; you will owe both income tax and also self-employment tax.
Here are a couple of links that will provide you with some guidance / information on small businesses:
https://www.irs.gov/businesses/small-businesses-self-employed/self-employed-individuals-tax-center
Appears the 2019 Publication has not been released, but the 2018 will provide good guidance:
https://www.irs.gov/pub/irs-pdf/p334.pdf
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