money blog

These are useful and collceted by Anne!
Question: What’s the easiest way to reduce self employment tax?
Can I still put money in an IRA for my 2007 taxes?

And if so, can I get the savers credit with another credit to reduce my taxes even further?

I am under the income limit to qualify for the savers credit.

Any tips appreciated!

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Hi,my name is Anne,I did the following:
Question: Do itemized deductions reduce your self employment tax?
We are planning to purchase a home,and want to get the most tax benefits out of our interest deduction….when I do the planning calculators, it doesn’t appear that this huge “deduction” reduces my taxes that much at all….If I switched to being a salaried employee, and not self employed, would that be better?

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Hi,my name is Anne,I did the following:
Question: What online tax service allows you to deduct self employment mileage at the lowest cost?
I am a 1099 worker and sell insurance for a living. My only deduction is mileage on my vehicle. Turbo Tax wants to charge an additional just so I can fill out Schedule C to deduct my mileage! I am filing married/jointly and my wife is a W2. Is HR Block any better?

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These are useful and collceted by Anne!
Q&A: Is the following a self employment asset or expense on my tax return?
I am a freelance web designer and last March my computer crashed and I had to buy a new one to replace it. Then in November my monitor stopped working and I had to buy new one. I have receipts for both purchases. Are those considered assets or an expense?

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Anne edited the following
Question: What is the self employment tax if wages are less than the standard deduction?
Say if I had wages of 00 and SE income of 00 and i have 0 dollars worth of SE tax I need to pay, would that be covered by the standard deduction? It doesn’t seem fair that I made less than 50 and still need to pay 0 SE tax minus the with-holdings on my W2

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Do you find what you need? Look here!
Question: Self Employment Tax – are W2 earnings considered in determining the maxumum earnings subject to SE Tax?
I earn more than 0k in W2 wages, and about k in 1099 income annually. Since there is a maximum earnings subject to social security tax and i have reached that cap in W2, does this mean by k is not subjected to the social security part of SE tax?

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Anne edited the following
Q&A: CPA letter of self employment needed?
I am doing a refinance and have been self employed. They are asking for a simple letter verifying self-employment for the last two years based on my filing of taxes. I need it by tomorrow any CPA’s out there that can help me?

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Hi,my name is Anne,I did the following:
Question: What are self employment jobs for a19 years old guy?
I hate working in stores,restaurants and school.I also hate working with computer at home.I just want a job which be flexible and very easy.

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Hi,my name is Anne,I did the following:
Question: Do shareholders of an S Corp pay self employment tax?
Just trying to calculate my tax rate for this year. Do I pay income tax PLUS self employment PLUS state?

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Hi,my name is Anne,I did the following:
Q&A: How do I calculate self employment taxes when I cannot estimate from last years taxes?
My dh started working for himself at the beginning of this year. He has never worked for himself before. All the tax information states to estimate based on last years taxes but he makes a totally different amount this year and its not steady income. How do I estimate how much to save out for taxes?

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