You had, or still have, a summer job – or you’ve created one for yourself. You’re going to make some spending money, hopefully save for college or other goals, and have some good experiences at the same time. Yay! Before you go out and celebrate with all the money you made from your summer job, […]
You Got This Weekly Series: Should Self-Employment Income from More Than One Business Be Reported as One Income or Separately?
Each week we will answer one of the most frequently asked questions on Facebook, Twitter and TaxACT’s Blog in the “You Got This” Weekly Series. Question: Do self-employed, not as in owning their own business, but as representatives of companies like Avon and Mary Kay, need to report their income separately on their tax return or can the multiple incomes be […]
How to decide if you have one or more Schedule C businesses? Self-employed individuals often have more than one activity going at once. You can report closely related activities together on one Schedule C. If you have unrelated activities, however, you must report them on separate Schedule Cs. Similar activities would include different lines of […]