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If income was not reported on a W-2, then you are the self-employed small business owner. Without a W-2, you do this by filing a Schedule C. This can be a great thing though. Because not only do you have to report the income, you also get to deduct your expenses related to this income.
What self-employed expenses can I deduct?
Note! Each payer must complete the Form 1099-MISC if during any year it pays you $600 or more.
If income was not reported on a W-2, then you are the self-employed small business owner. Without a W-2, you do this by filing a Schedule C. This can be a great thing though. Because not only do you have to report the income, you also get to deduct your expenses related to this income.
What self-employed expenses can I deduct?
Note! Each payer must complete the Form 1099-MISC if during any year it pays you $600 or more.
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