If you want to see the full tutorial on how to prepare a self employed tax return, then watch How to file self employed taxes (2023) | TCC th-cam.com/video/g9XknedtsJ8/w-d-xo.html
You are on it friend! 😉 we hope you enjoy the video. We did a little spin on it, meaning looking for ways to save on taxes. But the tax return piece in the front should be what you need to help you file your return. If you have questions, just post them here. Good luck! 😁
When doing your taxes, the software should ask you about things like amounts paid for medical expenses, state and local taxes, real estate taxes, mortgage interest and charitable contributions. If those things are greater than $12,950 then you will itemize. If not, then you will take the standard deduction. This video talks through it in detail: th-cam.com/video/2DRyPWUD4ZI/w-d-xo.html
Great content 👌. Questions: Can i use a credit card to pay for expenses vs. Bank account to track my business expenses? Do I have to worry about child labor laws when it comes to hiring my children?
Need a little more clarification. Can you tell us a little more about the question? Not sure if the ask is if there is tax when self employed if your AGI is zero or something else. Thanks!
Considering that a Form 1099-NEC is technically reported on a Schedule C, the same form that self-employed/sole proprietors use, yes, these items will work for that form as well. Thanks for watching and the comment!
Now why would a person want to pay more in taxes to Uncle Sam than they have to? We would claim all the income and all the expenses. As a professional, we can't comment any other way 😉🤣 Thanks for watching and the comment!
@@WilsonRogersCompanyInc I’m only asking because I want to purchase a house in the near future. And I know adding all expenses would lower my income to qualify for a bigger loan.
@@Tracklyfe_T Understood. That’s going to be a personal call. Professionally we don’t do it. Not to say we haven’t seen it done. We just don’t nor do we advise it. I tell people go make a million dollars. Then come talk to us about ways to lower the tax bill! 😉🤣
If you want to see the full tutorial on how to prepare a self employed tax return, then watch How to file self employed taxes (2023) | TCC th-cam.com/video/g9XknedtsJ8/w-d-xo.html
Hey my friend! Thanks for posting my video request today! Coffee is on me!
You are on it friend! 😉 we hope you enjoy the video. We did a little spin on it, meaning looking for ways to save on taxes.
But the tax return piece in the front should be what you need to help you file your return.
If you have questions, just post them here.
Good luck! 😁
@@WilsonRogersCompanyInc Awesome! Thank You.
How do i claim the 2022 standard deduction of $12,950?
When doing your taxes, the software should ask you about things like amounts paid for medical expenses, state and local taxes, real estate taxes, mortgage interest and charitable contributions. If those things are greater than $12,950 then you will itemize. If not, then you will take the standard deduction.
This video talks through it in detail: th-cam.com/video/2DRyPWUD4ZI/w-d-xo.html
@@WilsonRogersCompanyInc Ok Awesome.
Great content 👌. Questions: Can i use a credit card to pay for expenses vs. Bank account to track my business expenses? Do I have to worry about child labor laws when it comes to hiring my children?
If you pay zero taxes, about the AGI.
Need a little more clarification. Can you tell us a little more about the question? Not sure if the ask is if there is tax when self employed if your AGI is zero or something else.
Thanks!
Will it also work for Form 1099-NEC?
Considering that a Form 1099-NEC is technically reported on a Schedule C, the same form that self-employed/sole proprietors use, yes, these items will work for that form as well.
Thanks for watching and the comment!
@@WilsonRogersCompanyInc Thank you so much for always answering every question and doubt that I have.
Not a problem!
Nice video!
Thanks for watching! 😉
Hi If my business doesnt really have alot of expenses, is it possible to not claim any expenses? & just pay the tax bill on the income? is this common
Now why would a person want to pay more in taxes to Uncle Sam than they have to? We would claim all the income and all the expenses. As a professional, we can't comment any other way 😉🤣
Thanks for watching and the comment!
@@WilsonRogersCompanyInc I’m only asking because I want to purchase a house in the near future. And I know adding all expenses would lower my income to qualify for a bigger loan.
@@Tracklyfe_T Understood. That’s going to be a personal call. Professionally we don’t do it. Not to say we haven’t seen it done. We just don’t nor do we advise it.
I tell people go make a million dollars. Then come talk to us about ways to lower the tax bill! 😉🤣