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    Easy Accounting for the Self-Employed
    Easy Accounting for the Self-Employed
    Easy Accounting for the Self-Employed
    Ebook33 pages23 minutes

    Easy Accounting for the Self-Employed

    By Chrystal Mahan

    ()

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    About this ebook

    Working from home, self-employed, or freelancing? Whatever word you choose, just thinking about keeping track of your income and expenses can be overwhelming. It does not have to be. This easy to follow guide will answer all of your questions and help you set up your self-employed business reports for easy filing of the Federal Income Tax Form Schedule C.

    The self-employed have a very confusing set of tax rules when it comes to expenses and deductions. For example, do you know what to do with freebies? Do you know whether you are allowed the home office deduction? 

    Being self-employed is a lot of fun and can be quite rewarding, don't let the hassle of recordkeeping frustrate you. With this easy guide you'll be in self employment paradise in no time.

    LanguageEnglish
    PublisherChrystal Mahan
    Release dateApr 25, 2014
    ISBN9781513099989
    Easy Accounting for the Self-Employed
    Author

    Chrystal Mahan

    Chrystal Mahan, author of Easy Accounting for the Self-Employed & Food Bloggers Tax Guide , is the owner of the websites SelfEmployedWriter.com and YUMeating.com, has been working from home for over 10 years. She holds an Associates in Accounting degree, a Bachelors in General Studies degree with majors in Marketing, Business and Accounting, and a Masters degree in Business.

    Read more from Chrystal Mahan

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      Book preview

      Easy Accounting for the Self-Employed - Chrystal Mahan

      Easy Accounting for the Self-Employed

      ––––––––

      Easy Accounting for the Self-Employed

      SECOND EDITION

      Chrystal Mahan

      Published by Chrystal Mahan

      Copyright 2013 Chrystal Mahan

      ––––––––

      Copyright and License Notes

      This eBook is licensed for your personal enjoyment only. This eBook may not be re-sold or given away to other people. If you would like to share this book with another person, please purchase an additional copy for each recipient. If you’re reading this book and did not purchase it, or it was not purchased for your use only, then please return to your favorite retailer and purchase your own copy. Thank you for respecting the hard work of this author.

      This book is to act as a guide only. It contains is advice based on personal opinions, experience and education. It should not be considered legal advice. If you have any questions regarding your taxes, you should contact the IRS or your local CPA.

      Table of Contents

      Chapter1 - What is Accounting?

      Chapter2 - Why Do You Need Accounting?

      Chapter3 - Legalities of Working from Home

      Chapter4 - Do I Need Software?

      Chapter5 - 1040 Simplified

      Chapter6  - W-2 vs. 1099

      Chapter7 - Quarterly Taxes: What Should I Be Paying/Setting Aside?

      Chapter8 - Tax Advantages of Working at Home

      Chapter9 - Deductions for Schedule C

      Chapter10 - About Internet and Computers

      Chapter11 - Don’t Forget Those Freebies

      Chapter12 - More on Home Office Expense

      Chapter13 - What’s NOT Allowed

      Chapter 14 - I Owe, Now What?

      Chapter15 - Are Business Accounts Necessary?

      Chapter16 - When Is It Time to See an Accountant?

      Chapter17 - Free and Low Cost Resources for the Self-Employed

      Chapter1-What is Accounting?

      If you have a checking account, of course you balance it periodically to account for any differences between bank statement information and personal ledger notes concerning checks and deposits. Many people do it once a month when their statement is mailed to them. But with the advent of online banking, you can do it daily, if you're the sort whose banking tends to get away from them.

      As an accountant and a tax preparer, I tell my clients to keep track of everything! I

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