I always get paid from my employer on a w4 but me and my wife each did some self employment work on the side probably aroud 12,000. Will we be fined for not paying quarterly taxes? Should we pay now? Is April when we file OK?
I have a consulting practice set up as a single member LLC. To date, I have set up a contract with all of my previous clients and have received a 1099 from them to document my income. I have a new client (a private foundation) that wishes to set up o...read more
As a self employed changed my 2018 estimated income from $21,000 to $28,000 in November 2018. Marketplace kicked me out from marketplace and sent to Medicaid. We are 3 in family. My son son has Medicaid and my wife still has marketplace because marke...read more
I am an independent contractor, doing project work across the country. Right now I'm spending a lot of time in Virginia working for several clients. My home state is Colorado and that is where I have a home, cars and where I get paid. Can I deduct te...read more
I know that what is paid to a health care sharing ministry in lieu of health insurance does not qualify as a self employed insurance deduction, but does it qualify as a business expense on a schedule c?
I have an LLC and this year is the first year of me treating it as a S Corp ahead of time to try to alleviate self employment taxes.Last year I was also treated as an S Corp but didn't realize I had to create a payroll or proof of income to myself. I...read more
My former partner and I had opened a business in March 2018. He had abandoned the business and I had dissolved it as I could not do everything else. Due to his abandonment and other personal reasons, he refuses to talk to me. How should I go about fi...read more
I am an international graduate student that holds a Social Security Number. I want my spouse to get an ITIN number, she is also a foreigner. I am not sure if this is convenient for us, and if we need to file a 1040jointly or separately.
Below is an IRS example of a home office. My situation is exactly like Paul's below except I work at 1 local hospital, not 3. Am I elegible to deduct car expenses when I travel from my home office to the 1 local hospital? Example 3.Paul is a self-emp...read more