{"id":503,"date":"2015-07-25T14:51:02","date_gmt":"2015-07-25T18:51:02","guid":{"rendered":"http:\/\/blog.etax.com\/?p=503"},"modified":"2015-06-30T14:52:01","modified_gmt":"2015-06-30T18:52:01","slug":"journalism-related-tax-deductions","status":"publish","type":"post","link":"https:\/\/www.etax.com\/blog\/2015\/07\/25\/journalism-related-tax-deductions\/","title":{"rendered":"Journalism Related Tax Deductions"},"content":{"rendered":"

Journalists have an important job in reporting the current events and other newsworthy stories to the public. When it comes time for taxes, it\u2019s important for those who work as a journalist or media professional to know what to expect. You will receive a Form W-2 from your employer which will document the amount you earned and any tax withholdings. If you freelance, you are considered self-employed. Self-employed taxpayers have to report income on Schedule C, Profit or Loss from Business.<\/p>\n

Self-employed individuals will not receive a Form W-2, but should instead expect a Form 1099-MISC, Miscellaneous Income, which will show the amounts paid from the sender of the form. Net earnings over $400 require you to file a tax return and pay self-employment tax on all income reported on Schedule C. You may have to make quarterly estimated tax payments<\/a> to cover the self-employment tax you are liable for.<\/p>\n

You can reduce your taxes by claiming work related expenses as deductions. Any unreimbursed expenses relating to your job can be deducted on a Schedule A, Itemized Deductions, or Schedule C in the case of self-employed individuals. You\u2019ll be required to keep receipts which serve as proof of your expenses. You can deduct costs associated with:<\/p>\n