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Self Employed Tax Guide

There are a lot of considerations regarding taxes for the self-employed. We’ve put together a little guide to help you navigate through the often troublesome, sometimes murky tax requirements.

The Self Employed Tax Guide attempts to provides small business owners and the self-employed with a one-stop resource to staying in compliance with the filing requirements and minimizing the financial burden imposed by several layers of government.

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Table of Contents

Small Business Tax Returns Required & Due Dates

  • Federal, State & Local
  • Payroll Requirements
  • Employee or Independent Contractor
  • Estimated Tax Payments for Self Employed Persons

Entity Selection

  • Reasonable Compensation for S Corporation Owners/Officers

What is Income?

  • Accrual versus Cash Method of Accounting
  • Gifts and Donations
  • Rental Income & Expenses
  • Capital Gains and Losses
  • Miscellaneous Income

Tax Deductions for the Self-Employed

  • General Business Deductions
  • Retirement Plan Deductions
  • Home Office Deductions
  • Renting a Building to Your Business
  • Deducting Vehicle Mileage
  • Travel Expenses
  • Meal and Entertainment
  • Business Gifts
  • Depreciation & Amortization
  • Hiring Your Children
  • Charitable Donations
  • Year End Strategies
  • Hobby Loss Rules
  • Can I deduct the time I donated
  • Do I get a tax break for the client that didn’t pay

Estimated Tax Payments & Tax Audits and Collections

  • Tax Credits
  • Self-Employment (SE) Tax

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