IC taxes - IC

Posted: Oct 30th, 2017 - 12:41 pm In Reply to: For all who work IC - Question

ICs can deduct costs of professional tools as business expenses - chair, furniture, computer, software, references, etc. ICs can take home office deductions for a percentage of a home and percentage of utilities. ICs who buy their own health insurance can deduct that. Good records are key. Many can figure taxes online through Turbotax or another service.

Some are able to make as much money editing as transcribing. Use of a professional expander rather than one of the free or cheap ones (which cannot do as much) is key.

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For all who work IC - Question (Views: 1179, 2017-10-30, 10:02 am)
- IC taxes - IC
  - IC sounds like a troll, in my opinion. Nothing good about IC at all. - anon (Views: 1059, 2017-10-30, 1:03 pm)
    - Who do you think you are? - Angry people (Views: 1090, 2017-10-31, 5:39 am)
      - Sorry - There are deductions as IC - LinK (Views: 845, 2017-10-31, 12:07 pm)
        IC taxes - IC (Views: 838, 2017-10-31, 12:44 pm)
        I was charged 6000 in self-employment tax alone for last year - just saying, nm (Views: 795, 2017-10-31, 2:25 pm)
        6000 of SE tax - income of about $45,000 - IC (Views: 794, 2017-10-31, 2:43 pm)
        that statement ended with just saying, where did you read a complaint, it was an FYI - nm (Views: 627, 2017-11-02, 5:02 pm)
        Then you had to make a HUGE income to - reach $ 6000 in self-employment tax (Views: 636, 2017-11-03, 4:19 pm)
        I've taken those same deductions as an employee, so they're not solely an IC benefit, nm - MT (Views: 651, 2017-11-01, 4:37 am)
        IC deductions versus employee deductions - IC (Views: 728, 2017-11-01, 6:23 am)
  - I have never found an expander to make much difference in VR, especially when you have - to keep an eagle eye out, sm (Views: 602, 2017-11-02, 5:12 pm)
- You're confused because we are at a dead end. - ANON (Views: 932, 2017-10-30, 12:55 pm)
  - Not to mention 3 cents, no benefits, and never a raise! - anon (Views: 791, 2017-10-30, 1:29 pm)
    - IC taxes - IC (Views: 1152, 2017-10-30, 1:34 pm)
- I do 25% of income - nm (Views: 881, 2017-10-31, 2:26 pm)
  - This is what I did too. - in the know (Views: 646, 2017-11-02, 8:12 am)
    - 25% set aside or pay in? - IC (Views: 720, 2017-11-02, 9:43 am)
      - Set aside - nm (Views: 665, 2017-11-02, 1:28 pm)