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I freelance and prepare my own taxes. My employer sent me a 1099MISC and I went ahead to file my return before my employer notified me that it was the incorrect form - I should have been sent a 1099NEC. My employer is correcting this on their end and I will get a 1099NEC soon. My question is whether I need to submit an…
New business, LLC this year. 1. Looks like I can just append schedule C onto my regular taxes. 2. Bought a laptop with a business account and that's 100% for business. I assume I put that in a depreciating expense or similar? 3. Any other thing I will need to do on this? 4. Additionally filed a BOR registration. 5. Do I…
On the QuickThoughts app, I accumulated money through surveys that were under $400, which I received in Virtual Amazon Gift Cards that can only be redeemed on Amazon. Overall, I can't reserve any cash from the money earned from QuickThoughts because it was obtained in Virtual Amazon Gift Cards, which limits my ability to…
If I offer proofreading on Fiverr and I haven't earned anything yet but they require me to file a W-9 to start offering proofreading services on Fiverr's platform, will that income be considered a hobby or business income?
my husband wrote a book and we paid money to the publisher up front in full. How would I deduct this on my taxes? Will it be a one time deduction or over years and if over years, how do I figure the amount for each year? income from it I think would be Scheduled C? Thanks!
I filed my taxes with a CPA in previous years but using FreeTaxUSA for 2023 tax year. On my Schedule C my CPA has been taking depreciation since 2020 for my home office (business use of home) using the mid-month straight line method at 31.5 years. However, when I input my home office expenses using FreeTaxUSA (note, I put…
Hello, This is my first time using FreeTaxUSA. I am filing for the year 2021. I just filled out my profile information. I am inputting my W2 information. On my W2, it shows that I am a statutory employee. On FreeTaxUSA, it is "Statutory Employee - N/A" It says that it is not supported. What does this mean? Am I able to…
I had a tough time phrasing the question, so I apologize for any confusion. Basically, I claimed the home office deduction when I first started my business, from 2007-2012. Starting in 2013 I leased a commercial office, and from 2013-2023 I didn't claim a home office. Starting in 2024, however, I am back to working from…
I have a small business and have entered expenses in Schedule C. I would think that the more write-offs I enter my overall taxable income should be reduced, thereby increasing my Federal Refund. But the opposite happens. For example, if I enter Office Expenses, my Federal Refund amount is reduced. If I take the Home Office…
Hi I'm working on the schedule C and I'm wondering what the best category and code to use for doordash and uber eats? Thank you
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