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New Member

Should I use the non-farm optional method?

 
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New Member

Should I use the non-farm optional method?

Using one of the optional methods to figure your  net earnings from self-employment is really a tax-strategy decision, and only you can know which method fits your particular situation.

That said, if you'll read "Methods for Figuring Net Earnings" starting on page 77 of Publication 225, Farmer's Tax Guide, you'll be able to see which method is best for you.  The chart in Figure 12-1, "Can I Use the Optional Methods?" is particularly helpful.





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New Member

Should I use the non-farm optional method?

How can I get out of the optional Method.  No back button and my self employment tax tripled.  Ouch. Up all night trying to finish 2018 taxes and now this?  Can anyone help??

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New Member

Should I use the non-farm optional method?

I already know I don't want to use the optional method -- tripled the taxes. Ouch.   You did not read what I wrote.

 

I'm asking how do I reset the accounting software TurboTax 2018 Home Business addition to not force me into the much higher income averaging Optional Method??   There is no back option or reset option once you click on it.    I just wanted to see if it would lower my tax bill, but now I'm stuck with too high a self employment tax!!!!

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New Member

Should I use the non-farm optional method?

On the far left side of Turbo Tax below the red check mark...click on the  State, Federal, etc. and it will take you back to the beginning.  You may then "revisit" under which area you are concerned with.