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kkk312602
New Member

I use to be a Brand Partner for a Skin Care Company, but not anymore. How do I change that from my tax information?

 
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1 Reply
AnnetteB6
Expert Alumni

I use to be a Brand Partner for a Skin Care Company, but not anymore. How do I change that from my tax information?

I am assuming that you were an independent contractor, filing Schedule C for your business. 

 

If you do not expect to continue to operate your business, you should “close” it by filing a final Schedule C.

 

If you had any assets being depreciated for your business, you should go through the Assets section of the Schedule C and dispose of each asset.  Edit each asset and select that you no longer use the item for business (retired, sold, disposed, or converted to personal use).  Then answer the additional questions that will come up. 

 

Take a look at the answer below for additional guidance (even though the years being discussed are not current, the information is relevant).

 

How do I close a business on my taxes?

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