0
What else can I help you with?
Can I deduct health insurance premiums on Schedule C?
Yes, self-employed individuals can deduct health insurance premiums on Schedule C as a business expense.
Can you deduct health insurance premiums on Schedule C?
Yes, self-employed individuals can deduct health insurance premiums on Schedule C as a business expense.
Where should I deduct my computer expenses on Schedule C?
You should deduct your computer expenses on Schedule C under the "Other Expenses" section.
Can you deduct COBRA payments on Schedule C?
No, COBRA payments cannot be deducted on Schedule C.
Is interest on a tractor loan tax deductible?
If it is used to produce income from farming/ranching (Schedule F) or your business income (Schedule C) you can deduct it on on the related schedule, otherwise it is personal interest and not deductible. Beware, that the source of the income cannot be classified as a hobby.
Can I deduct health insurance premiums on Schedule C?
Yes, self-employed individuals can deduct health insurance premiums on Schedule C as a business expense.
Can you deduct health insurance premiums on Schedule C?
Yes, self-employed individuals can deduct health insurance premiums on Schedule C as a business expense.
How can you change how your Medicare premiums are paid?
If on medicare you can't, b/c social security will deduct b/c you get your payment. If you have a supplement or mapd policy call insurance carrier
Where should I deduct my computer expenses on Schedule C?
You should deduct your computer expenses on Schedule C under the "Other Expenses" section.
Can you deduct COBRA payments on Schedule C?
No, COBRA payments cannot be deducted on Schedule C.
Definition for Medicare advantage plan?
Medicare Part C (Medicare Advantage) is a managed care arrangement available in some states. It replaces Medicare Parts A & B. Premiums vary. It is not a supplent. It a part of Medicare and is administered by insurance companies.
Is interest on a tractor loan tax deductible?
If it is used to produce income from farming/ranching (Schedule F) or your business income (Schedule C) you can deduct it on on the related schedule, otherwise it is personal interest and not deductible. Beware, that the source of the income cannot be classified as a hobby.
Where does an independent contractor deduct work-related expenses?
Using the schedule C or C-EZ of the 1040 tax form along with the SE. If you are a self-employed (includes freelance and independent contractors) taxpayer, you will need to report that income, and any related expenses, on Form 1040, Schedule C, Profit or Loss from Business, or you may qualify to use Form 1040, Schedule C-EZ, Net Profit from Business. You will also need to use Form 1040, Schedule SE, Self-Employment Tax to compute and report your social security and Medicare tax. You may also need to make quarterly estimated tax payments. You would use Form 1040ES, Estimated Tax for Individuals, for this.
Can I deduct mortgage interest on rental?
Yes, it is NOT a personal deduction, but will be an expense against the income...on either your schedule C or I, depending on how your handling the property 9as a business or as an investment).
Is part C medicare a less expensive option than traditional medicare?
Part C medicare is less expensive then traditional medicare. However, with medicare part C there is less coverage so you will have limited services with your medical provider.
What does Medicare c plus cover?
Medicare C (Medicare Advantage or Medigap) is private insurance that you choose and pay for, to cover expenses not covered by Medicare A & B, such as copays, deductibles etc.
Can I deduct expenses for my sole proprietorship even if I claim the standard deduction?
Yes. Your expenses as a sole proprietor aren't deducted on Schedule A (Itemized Deductions). If you aren't using Schedule A, then you claim the standard deduction. Income and expenses from a sole proprietorship are entered on Schedule C (Profit or Loss from Business) or Schedule C-EZ (Net Profit from Business). Your net profit/(loss) is then entered on line 12 of Form 1040.
