Retirement tax questions

If you are new to being self employed, are not incorporated or in a partnership  and  are acting as your own bookkeeper and tax preparer you need to get educated ....  

If you have net self employment income of $400 or more you have to file a schedule C in your personal 1040 return for self employment business income. You may get a 1099-NEC  for some of your income but you need to report all your income.  So you need to keep your own good records. Here is some reading material……

IRS information on Self Employment….
http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Self-Employed-Individuals-Tax-Center 

Publication 334, Tax Guide for Small Business
http://www.irs.gov/pub/irs-pdf/p334.pdf 

Publication 535 Business Expenses
http://www.irs.gov/pub/irs-pdf/p535.pdf 

 

Publication 463 Travel, Gift, and Car Expenses

Https://www.irs.gov/pub/irs-pdf/p463.pdf  

 

Home Office Expenses … Business Use of the Home

https://www.irs.gov/businesses/small-businesses-self-employed/home-office-deduction

https://www.irs.gov/pub/irs-pdf/p587.pdf

Publication 946 … Depreciation

https://www.irs.gov/pub/irs-pdf/p946.pdf

                                              

There is also QuickBooks Self Employment bundle you can check out which includes one Turbo Tax Self Employed return and will help you keep up in your bookkeeping all year along with calculating the estimated payments needed ....
http://quickbooks.intuit.com/self-employed

 

 

How to report Lyft and Uber income

https://ttlc.intuit.com/community/uber-or-lyft/help/where-do-i-enter-my-lyft-uber-income/00/26804

 

Tax Tips for Uber, Lyft, Sidecar and other Car Sharing Drivers FAQ

https://turbotax.intuit.com/tax-tips/self-employment-taxes/tax-tips-for-uber-lyft-sidecar-and-other-...

 

How to import from Lyft

https://ttlc.intuit.com/community/entering-importing/help/how-do-i-import-my-tax-information-from-ly...

 

How to enter Lyft tax info

https://ttlc.intuit.com/community/self-employed/help/how-do-i-enter-my-lyft-tax-information/01/27139

 

How to get the Lyft discount

https://ttlc.intuit.com/community/account-management/help/why-isn-t-my-lyft-discount-being-applied-t...

 

UBER

What do I need from Uber

https://ttlc.intuit.com/community/uber-or-lyft/help/what-do-i-need-from-uber-to-file-my-taxes/00/271...

 

How to get the Uber Discount

https://ttlc.intuit.com/community/charges-and-fees/help/how-can-i-apply-my-uber-discount-to-my-turbo...

 

How to import from Uber

https://ttlc.intuit.com/community/entering-importing/help/how-do-i-import-my-income-information-from...

 

And

https://ttlc.intuit.com/community/entering-importing/help/how-does-importing-from-uber-work/00/27149

 

How to enter expenses from the Uber Summary

https://ttlc.intuit.com/community/entering-importing/help/how-do-i-enter-my-expenses-from-my-uber-ta...