I have a small 1099 business ($3K a yr) & had no taxes withheld but it says my refund will be about $500. ( the amount is in green, not red) As I add more business expenses, the refund gets smaller. Is this a glitch? What does it mean?
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we can't see your return so can't say what is happening. your self-employment tax should go down but perhaps certain credits are going down more. also, your QBI/199A deduction would go down increasing taxes.
we can't see your return so can't say what is happening. your self-employment tax should go down but perhaps certain credits are going down more. also, your QBI/199A deduction would go down increasing taxes.
Thanks - that makes sense now that I have gone thru the whole filing process.
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