What can I deduct from my taxes that will be due as a home health aide? Also is it true I have to pay 15.5%. Would I submit a 1099 and schedule c

[Texas Roger · Accepted solution]

If you are an independent contractor with self employment income reported on a 1099-MISC or in cash rather than a W-2, you must enter the income and any related expenses on Schedule C. You will be subject to 15.3% self employment tax plus ordinary income tax on the net earnings. 

If you use the online product and have expenses, you must use the Self Employed version to enter your 1099-MISC income and expenses on Schedule C. Your Schedule C will be filed along with your form 1040. If you have no expenses, you can use Deluxe or Premier but Self Employed will give you more guidance.

If you use the CD/download product, you can use any version but the Home & Business version will provide more guidance. 

[laurahickman1968]

Where can I find a list of things I can deduct?

[Texas Roger]

Deleted incorrect answer

[Texas Roger]

Here is an article that lists some of them: <a rel="nofollow" target="_blank" href="https://www.moneytips.com/top-15-tax-deductions-for-the-self-employed">https://www.moneytips.com/top...>
@VolvoGirl  has a lot of good information for self employment. If she sees this post, she will probably answer.

[VolvoGirl]

When you are self employed you are in business for yourself and the person or company that pays you is your customer or client.

To report your self employment income you will fill out schedule C in your personal 1040 tax return and pay SE self employment Tax.  You will need to use the Online Self Employed version or any Desktop program but the Desktop Home & Business version will have the most help.

For the future, There is also QuickBooks Self Employment bundle you can check out which includes one Turbo Tax Online Self Employed  return....
http://quickbooks.intuit.com/self-employed

You need to report all your income even if you don't get a 1099Misc. You use your own records.  You are considered self employed and have to fill out a schedule C for business income.   You use your own name, address and ssn or business name and EIN if you have one.   You should say you use the Cash Accounting Method and all income is At Risk.   

After it asks if you received any 1099Misc it will ask if you had any income not reported on a 1099Misc. You should be keeping your own records.  Just go through the interview and answer the questions.   Then you will enter your expenses.

Self Employment tax (Scheduled SE) is automatically generated if a person has $400 or more of net profit from self-employment.  You pay 15.3% SE tax on 92.35% of your Net Profit greater than $400.  The 15.3% self employed SE Tax is to pay both the employer part and employee part of Social Security and Medicare.  So you get social security credit for it when you retire.  You do get to take off the 50% ER portion of the SE tax as an adjustment on Schedule 1 line 27.  The SE tax is already included in your tax due or reduced your refund.  It is on the Schedule 4 line 57.  The SE tax is in addition to your regular income tax on the net profit.

Here is some IRS reading material……

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

Pulication 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