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Financial Planning / Tax Strategies


Subject:  Re: tutoring and taxes Date:  2/15/2007  12:09 PM
Author:  ishtarastarte Number:  92185 of 132797

Your responsibilities include tracking your income and expenses, reporting same on Schedule C of the 1040, which feeds Schedule SE, where you compute self-employment tax, and, perhaps, making estimated tax payments.

A starting point for your homework would be IRS Publication 334. Don't let the title put you off. You are a small business even if you don't think of yourself as one. Other publications of interest would be 505, 535, and 560.

Thank you


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