Tag Archives: Self-employment income

The Big Five for The Self-Employed

If you work for yourself, whether through contracting, freelancing, or other self-employed means, you’re entitled to a variety of tax deductions that can save you money when you file your tax return. And as an independent worker, saving money is always welcome. Here are the top five tax deductions to be aware of. Your Home: […]

No one enjoys paying taxes, however the fact that you’re entire salary isn’t taxed by the federal government should make it a little bit easier to swallow. During tax time, you’re required to report your entire income, but the IRS deducts certain amounts, like education costs and retirement plan contributions, before determined the amount of […]

Taxes and the Self-Employed

Whether you freelance, own your own business as a sole proprietor, or are an independent contractor, you are likely considered self-employed. Self-employment income has certain tax requirements that you need to be aware of when it’s time to file your federal income tax return. Be aware of the following six pieces of advice from the […]

Forklift Drivers Find Deductions

Not everyone can drive and operate a forklift. It takes a special skill, training, and an extra cautious mindset to be a safe forklift driver. When it comes to taxes, forklift operators have to know how to drive their way through a rigorous tax code. However, with a little extra help, tax time for forklift […]

Salesperson

Making your living in sales can mean you rely on commissions just as much as your normal wages. At tax time, you will receive a Form W-2, Wage and Tax Statement from your employer. As a salesperson, you may be classified as a statutory employee. Generally, statutory employees have Box 13 of their W-2 checked, […]

Mechanics Check Deductible Expenses

As a mechanic, you are entitled to certain deductions of unreimbursed job-related expenses come tax time. In order to maximize your deductions and lower the amount of taxes you owe, you should keep receipts for all expenses you incur throughout the tax year. The amount of taxes you paid will be listed on a Form […]

Housekeepers, janitors and custodians are all subject to income tax requirements. If you are employed by a company or other organization, they will provide you with a Form W-2, which will list your applicable income and tax withholdings. You are required to report your income to the IRS, even if you are self-employed. You are […]

Building Deductions to Lower Taxes

As a carpenter, you’ll spend your days constructing a variety of items for people which incorporate a great level of precision and skill. You’ll need to copy this ability when filing your tax return. With so many different deductions and credits, as well as tax codes, it takes a keen eye to make sure everything […]

Construction workers are a vital part of the employment industry. Without you, our lives would be much different. Our roads, buildings, homes, and other structures would be in a state of disrepair. However, the job can lead to a few out of pocket expenses for worker, which they can deduct at tax time to save […]

As a maintenance worker, you may either be classified as an employee of a company or you may be considered self-employed. If you are an employee, your employer will provide you with a Form W-2, Wage and Tax Statement. Self-employed maintenance workers can expect a Form 1099-MISC, Miscellaneous Income from those whom they’re contracted with. […]