It’s that time of year again. Writers everywhere are casting desperate glances around their workspace wondering where the money’s gone. Wishing they could rewind the last 11 months and keep better records (or any records!). Generally wondering how they’re going to make it through another tax season. Some writers realize that writing is a business ...
When you attend college you may receive scholarships, fellowships or grants. You might also receive stipends to cover expenses, or for teaching, doing research, working on an apprenticeship or internship, or for other work. According to the IRS, scholarships, fellowships and grants are generally not subject to federal income tax if you are a candidate ...
Many people today are accepting jobs with companies who have elected to pay them as independent contractors rather than as typical payroll employees. Companies do this for a variety of reasons, not the least of which are the tax savings they benefit from by not paying social security and Medicare taxes for their “employees.” Individuals ...
If you are the sole proprietor of a business and you file Schedule C with your federal income tax return, you will notice a new line on the schedule starting in 2011. In Part I, line 1a is for “Merchant card and third party payments”. It also indicates that you should enter -0- for 2011. ...
If you are the sole proprietor of your business, when you file your federal income tax return you would generally report your business income and expenses on Schedule C of Form 1040. You may qualify to file the simpler Schedule C-EZ if you have only one small business and you meet the requirements. If you ...
