Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
p_brooks97
New Member

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

I also got another job after the mowing season ended
2 Replies
HelenC12
Employee Tax Expert

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. 

Related information:

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
Rick19744
Level 11

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

 

*A reminder that posts in a forum such as this do not constitute tax advice.*
Dynamic AdsDynamic Ads
Privacy Settings
v