You Tax Question - 019

Dear John, This year is going to be a very interesting tax return year. I started the year being self-employed, in the middle I had a part-time job and the last half I was hired as an independent contractor (paid on commission). Is there anyway I could do my return without an accountant? Thanks, Colleen
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Hi Colleen,

There are three sources of Income: Two of these sources will be directly addressed by your Net Profit (from your self-employment and independent contracting) on your Schedule C and then the wages (W-2) from your part-time job will be addressed on your 1040. The W-2 & Schedule C are pretty common & straight forward.

So yes, I am sure that you can do this without an accountant. (But in my biased opinion you should hire a tax professional - wink wink).

Hope this helps,
John

PS. Did you know that tax preparation expenses are deductible? Business tax prep fees are not deductible but directly reduce the Net Income on your schedule C. If you need help with this I still have room on my client list. ;-) Email me