I complete a schedule C for my business. The 1/2 of self-employment taxes is deducted on Schedule 1. Is this tax deductible for the state of New Jersey as a business expense? If so, how do you include it in Turbo Tax software?
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1 Replies
ThomasM125
Expert Alumni
Feb 29, 2024 5:43:23 PM
No, that is not a business expense. It reduces your Self-employment tax on your federal return that is assessed on your self-employment income. As such is not an expense of doing business.