Hello. I work in video production and make about 80,000 a year. I file as a sole proprietor. Can I make business deductions for 2018? Thanks.

[lexloverde]

Hello. I need to know if deductions are still available to me under the new tax bill. If they’re not, I need to know if I should incorporate. Thanks. 

[SweetieJean]

Schedule C deductions?

[lexloverde]

Yes. I’ve read articles that say they’re gone under the new tax bill.

[SweetieJean · Accepted solution]

The ones that are gone are unreimbursed (W-2) employee business expenses reported on Schedule A.

https://www.forbes.com/sites/kellyphillipserb/2017/12/22/what-tax-reform-means-for-small-businesses-...

[lexloverde]

Thanks so much Jean. The only other question I have is that I receive a 1099-misc and the article you posted says sole proprietors would file a 1040. Is that a misprint? I’m a little confused.

[lexloverde]

Sorry, I think that was a dumb question. I receive the 1099 misc and report on a 1040, yeah?

[SweetieJean]

You get a 1099-MISC (instead of a W-2).  The 1040 is the tax return that you file, in which you claim the 1099-MISC..
<a rel="nofollow" target="_blank" href="https://www.irs.gov/pub/irs-dft/f1040--dft.pdf">https://www.irs.gov/pub/irs-dft/f1040--dft.pdf</a>

[lexloverde]

You’re the best! Thanks so much!