Thread: Tax write offs
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Old Wed Jan 30, 2008, 02:50pm
Bearfanmike20 Bearfanmike20 is offline
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Join Date: Oct 2007
Location: Lake County, IL
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Quote:
Originally Posted by jmaellis
I've used H&R Block software for the past couple of years to complete my Schedule C. I've found that their explanations regarding what can/can't be deducted to be fairly straight forward and easy to follow. When all is said and done I paid about $14 in self employment tax.

I didn't receive a single 1099 last year, but I reported ALL my referee income. In turn I took all the credits/deductions that were allowed and still came out okay. It's much better to just report it properly and take the deductions than to not report the income (and since you didn't report the income you can't claim the deductions) and risk and audit.
I will be doing this as well... Most of my counterparts give me this look like "are you crazy", but I am the epitomy of murphys law so... I'll report, but I will also claim my office space at home, and my laptop that I bought this year.
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