Self Employed Tax Guide
There are a lot of considerations regarding taxes for the self-employed. We’ve put together a little guide to help you navigate through the often troublesome, sometimes murky tax requirements.
The Self Employed Tax Guide attempts to provides small business owners and the self-employed with a one-stop resource to staying in compliance with the filing requirements and minimizing the financial burden imposed by several layers of government.
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Table of Contents
Small Business Tax Returns Required & Due Dates
- Federal, State & Local
- Payroll Requirements
- Employee or Independent Contractor
- Estimated Tax Payments for Self Employed Persons
Entity Selection
What is Income?
- Accrual versus Cash Method of Accounting
- Gifts and Donations
- Rental Income & Expenses
- Capital Gains and Losses
- Miscellaneous Income
Tax Deductions for the Self-Employed
- General Business Deductions
- Retirement Plan Deductions
- Home Office Deductions
- Renting a Building to Your Business
- Deducting Vehicle Mileage
- Travel Expenses
- Meal and Entertainment
- Business Gifts
- Depreciation & Amortization
- Hiring Your Children
- Charitable Donations
- Year End Strategies
- Hobby Loss Rules
- Can I deduct the time I donated
- Do I get a tax break for the client that didn’t pay
Estimated Tax Payments & Tax Audits and Collections
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