Schedule C

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Why is the SE Tax Deduction Taken on the 1040 and Not on Schedule C?

By | April 18th, 2017|Categories: Small Business Tax and Accounting|Tags: , , |

Question from a web visitor: why is the deduction for 1/2 of self-employment tax taken on the front side of the 1040 and not on the proprietorship’s Schedule C?

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When Can a Home Office Deduction Result in a Business Loss?

By | November 17th, 2016|Categories: Small Business Tax and Accounting|Tags: , , , |

The general rule with home office deductions is that the deduction cannot generate a business loss. But there’s an exception to this rule.

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Follow-up to Wednesdays Post: 1-Person LLCs, EINs and Form W-9

By | July 22nd, 2016|Categories: Small Business Tax and Accounting|Tags: , , , |

What EIN should go on a W-9 for a single-member LLC?

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What EIN Do I Put on Schedule C?

By | July 20th, 2016|Categories: Small Business Tax and Accounting|Tags: , , , |

When a sole proprietor has an employer identification number (EIN), it would seem to be common sense that the proprietor would put that EIN on the Schedule C for the proprietorship. Not so fast -- especially of the sole proprietorship is a single-member LLC taxed as a sole proprietorship.

How to Fix a Schedule C Filed In the Wrong Spouse’s Name

By | February 25th, 2016|Categories: Small Business Tax and Accounting|Tags: , , |

How to fix a Schedule C filed in the wrong spouse's name.