Child Tax Returns – Kiddie Tax
A tax return usually must be filed for a minor child whose income included investment income, such as interest and dividends, and totals more than $950. The minor child pays…
Read moreSeven Tax Tips for Job Seekers
IRS Summertime Tax Tip 2011-11, July 29, 2011 Many taxpayers spend time during the summer months updating their résumé and attending career fairs. The Internal Revenue Service reminds job seekers…
Read moreLicensed Real Estate Agents – Real Estate Tax Tips
Most real estate professionals operate their business as a sole proprietorship. This means that you are not someone’s employee, you haven’t formed a partnership with anyone, and you have not…
Read moreElection for Husband and Wife Unincorporated Businesses
An unincorporated business jointly owned by a married couple is generally classified as a partnership for Federal tax purposes. For tax years beginning after December 31, 2006, the Small Business…
Read moreHusband and Wife Business
One of the advantages of operating your own business is hiring family members. However, the employment tax requirements for family employees may vary from those that apply to other employees.…
Read moreBusiness Structures
When beginning a business, you must decide what form of business entity to establish. Your form of business determines which income tax return form you have to file. The most…
Read moreHow Do I Make My Quarterly Payments?
Estimated tax is the method used to pay Social Security and Medicare taxes and income tax, because you do not have an employer withholding these taxes for you. Form 1040-ES,…
Read moreHow Do I File My Annual Return?
To file your annual tax return, you will need to use Schedule C (PDF) or Schedule C – EZ (PDF) to report your income or loss from a business you…
Read moreWho is Self-Employed?
Generally, you are self-employed if any of the following apply to you. You carry on a trade or business as a sole proprietor or an independent contractor. You are a…
Read moreWhat are My Self-Employed Tax Obligations?
As a self-employed individual, generally you are required to file an annual return and pay estimated tax quarterly. Self-employed individuals generally must pay self-employment tax (SE tax) as well as…
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