Skip to main content
Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0

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

Ishtar
Print the post  

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.