Earnings: Were you self employed with earnings more than $400.00?

If so, then chances are that yes, you will need to file taxes as being self-employed.

The next obvious question [...]]]> Probably the first question you have thought is “Do I have to file taxes?”, so, let’s see what the IRS has to say about that…

Earnings: Were you self employed with earnings more than $400.00?

If so, then chances are that yes, you will need to file taxes as being self-employed.

The next obvious question is what the IRS considers “self employed” to mean, they have an easy answer to that here, which invariably lead me over to the self employment tax section.

For those of us that are self-employed, we must pay SE tax and file Schedule SE (Form 1040) if our net earnings from self-employment were $400 or more for 2009. Check this page for more information on the self-employment tax.

I already know that I will be filing taxes this year, even if I don’t yet know what my full earnings were, so I’ll leave you to sort out if you need to file and I will move on to the next step in this walk along on filing taxes when self-employed.

In the words of Dolly Parton, it’s enough to drive you crazy if you let it.

So, for those [...]]]> I went looking for something on taxes for home based businesses and do you know what I discovered? It costs over $60 for even the most basic and cheapest software I have been able to find.

In the words of Dolly Parton, it’s enough to drive you crazy if you let it.

So, for those of us who just wish we could say we work 9-5 and know that running a business is more like a 24 hour a day, 7 day a week job, I am going to be sharing what I sort out here as I work on my own small business taxes.

All posts will be gathered under the “taxes” category.