Topics found on this page:
H&R Block's Uber Reporting Guide
Record Keeping for Self-Employed Individuals Flyer
Schedule C - Reporting Business Income by the Self-Employed
Use this as a quick reference when filing a Schedule C for a self-employed taxpayer.
Or download and print the pdf: Schedule C - Reporting
Tax Prep Dispatch: Don’t Fear Schedule C's
As you know from your online training, self-employment income is reported on a form Schedule C or Schedule C-EZ.
The Don't Fear Schedule C's Tax Prep Dispatch gives a quick overview Schedule C's, including: VITA scope, types of income and expenses, self-employment tax, estimated tax payments, record keeping, and other tips.
Qualified Business Income Deduction (QBID) Correct Calculation
In some cases, TaxWise is not computing the QBID correctly. The preparer will have to do a manual calculation and, in some cases, override the QBID. This applies only to tax returns with self-employment income, Schedule C-EZ or Schedule C, and does not affect state returns.