Can you explain how to handle Auto Depreciation of one vehicle on two
separate schedule Cs when one of the businesses has been using the
vehicle (and depreciating it) for a number of years, and then I started
a second company (running both businesses...read more
I am part of a review program for amazon. We get items in exchange for
review, but those items come with a price tag that we get at the end of
the year via a 1099 NEC. Am I able to deduct anything? Like a phone
bill, or internet, electricity.. etc?
My 1099_Misc form does not mention Schedule C or E. An internet search
is saying E, but TurboTax seems to be indicating it is Schedule C.
Either way I am stuck.
teganjazPosted 2 weeks ago
| Latest post a week ago by
teganjaz
The 1099 total is $5,818. $5K was won in a drawing. The $818 was paid as
incentive for policies sold. None of the $5,818 is commissions. It is
extra contest winnings.
As a new 1099 contractor am I taxed at the 15.3% self employed rate or
at my current yearly W2 filing status rate 22% before I began 1099 work,
or both together? I need to know so I can make quarterly payments.
I participated in a research study, filled out some questions, kept
diary, and went in for some bloodwork and scans. Does that count as
performing a service for the payment?
i work for gig economy apps, usually a few months or weeks out of the
year. my car was stolen this previous year so i couldn’t work as much.
i’m looking into doing my unpaid previous years and i dt know to go
about getting the best deductions and pay...read more
Is there a "benefit" to counting something as Hobby or misc/other income
vs business income? Or are these simply different categories to list
different sources of income?From what I understand, any income that you
make needs to be reported to the IRS...read more
takinekoPosted October 27, 2021
| Latest post 2 weeks ago by
eaglei22