{"product_id":"j-k-lassers-guide-to-self-employment-isbn-9781119658733","title":"J.K. Lasser's Guide to Self-Employment","description":"\u003cp\u003e\u003cb\u003eWhat every self-employed person needs to know about their taxes!\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIf you’re self-employed, chances are the majority of your time is spent finding new customers or clients, servicing existing ones, and handling each and every aspect of your business. Freelancers, independent contractors, gig economy participants, and other individuals working for themselves need to be aware of their responsibilities when it comes to paying their taxes. Even if you have an accountant or use tax preparation software, you may not be aware of all the deductions and credits you are entitled to. That’s where the experts at J.K. Lasser come in. \u003c\/p\u003e \u003cp\u003eThe second edition of \u003ci\u003eJ.K. Lasser's Guide to Self-Employment \u003c\/i\u003ehelps you file your taxes correctly, accurately, and on time. Using clear, jargon-free language, this bestselling guide explains the legal and financial implications of self-employment and shows you how to keep as much of your hard-earned money as legally possible. You will learn the essentials of tax reporting and see what types of valuable tax-saving deductions and credits you can claim. Fully updated to reflect changes in the tax code, this new edition features practical examples, easy-to-use worksheets, real-world tips, expert advice, and much more. A must-have resource for anyone who fills out a Schedule C at tax time, this book:\u003c\/p\u003e \u003cul\u003e \u003cli\u003eOffers effective strategies for reducing your tax bill and increasing your cash flow\u003c\/li\u003e \u003cli\u003ePresents a detailed overview of the Schedule C that explains when, where, and what to file\u003c\/li\u003e \u003cli\u003eExplains how to protect yourself on a tax-advantaged basis with insurance, health coverage, and retirement plans\u003c\/li\u003e \u003cli\u003eFeatures advice on growing your business through technology and education programs\u003c\/li\u003e \u003cli\u003eProvides new and updated information on the qualified business income deduction, getting certified for government contracts, recent legislation that protects freelancers, and more \u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eDon’t let being a solopreneur and filing your taxes be a source of stress and anxiety for you and your business. \u003ci\u003eJ.K. Lasser's Guide to Self-Employment: \u003c\/i\u003e\u003ci\u003eTaxes, Strategies, and Money-Saving Tips for Schedule C Filers\u003c\/i\u003eis here to help.\u003c\/p\u003e \u003cp\u003ePreface ix\u003c\/p\u003e \u003cp\u003eIntroduction xi\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart 1 Self-Employment Basics 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003e1. Being Self-Employed and On Your Own 3\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhat Does Self-Employment Mean? 4\u003c\/p\u003e \u003cp\u003eLegal Consequences of Self-Employment 6\u003c\/p\u003e \u003cp\u003ePractical Issues in Self-Employment 7\u003c\/p\u003e \u003cp\u003eTax Terminology 8\u003c\/p\u003e \u003cp\u003eBeing 1099ed 9\u003c\/p\u003e \u003cp\u003eWhat’s Ahead 9\u003c\/p\u003e \u003cp\u003e\u003cb\u003e2. Getting Set Up for Tax Reporting and Business Operations 11\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePreliminaries 12\u003c\/p\u003e \u003cp\u003eKeeping Books and Records for Tax Reporting 12\u003c\/p\u003e \u003cp\u003eBusiness Reasons for Recordkeeping 14\u003c\/p\u003e \u003cp\u003eTax ID Number 14\u003c\/p\u003e \u003cp\u003eTax Year 17\u003c\/p\u003e \u003cp\u003eAccounting Method 17\u003c\/p\u003e \u003cp\u003eDecide Your Business Name 20\u003c\/p\u003e \u003cp\u003eWhat’s Your IP? 21\u003c\/p\u003e \u003cp\u003eObtain Licenses, Permits, and Permission 23\u003c\/p\u003e \u003cp\u003eWhat’s Ahead 24\u003c\/p\u003e \u003cp\u003e\u003cb\u003e3. Using Schedule C 25\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTax Filing on Schedule C 25\u003c\/p\u003e \u003cp\u003eWhen, Where, and How to File 30\u003c\/p\u003e \u003cp\u003eWhat’s Ahead 31\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart 2 Reporting Income and Expenses 33\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003e4. Reporting Your Income 35\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePayment Types Don’t Matter 36\u003c\/p\u003e \u003cp\u003eAlternative Payments 38\u003c\/p\u003e \u003cp\u003eWhere to Report Payments 39\u003c\/p\u003e \u003cp\u003eWhat to Do about 1099s 40\u003c\/p\u003e \u003cp\u003eWhat to Do When You Don’t Get Paid 42\u003c\/p\u003e \u003cp\u003eLosses 43\u003c\/p\u003e \u003cp\u003eWhat’s Ahead 46\u003c\/p\u003e \u003cp\u003e\u003cb\u003e5. Writing Off Vehicle, Travel, Meals, and Gifts Expenses 49\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eVehicle Expenses 50\u003c\/p\u003e \u003cp\u003eLocal Transportation 56\u003c\/p\u003e \u003cp\u003eBusiness Meals 56\u003c\/p\u003e \u003cp\u003eBusiness Travel 59\u003c\/p\u003e \u003cp\u003eBusiness Gifts 61\u003c\/p\u003e \u003cp\u003eStrategies for Saving on Travel Costs 61\u003c\/p\u003e \u003cp\u003eWhat’s Ahead 62\u003c\/p\u003e \u003cp\u003e\u003cb\u003e6. Deducting Office-Related Costs 65\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eRental Expenses 65\u003c\/p\u003e \u003cp\u003eHome Office Use 68\u003c\/p\u003e \u003cp\u003eMaterials and Supplies 79\u003c\/p\u003e \u003cp\u003eFurniture and Fixtures 80\u003c\/p\u003e \u003cp\u003eComputer-Related Costs 84\u003c\/p\u003e \u003cp\u003eInsurance 86\u003c\/p\u003e \u003cp\u003eUtilities 86\u003c\/p\u003e \u003cp\u003eMiscellaneous Office-Related Costs 87\u003c\/p\u003e \u003cp\u003eWhat’s Ahead 88\u003c\/p\u003e \u003cp\u003e\u003cb\u003e7. Claiming Deductions A to Z 89\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAdvertising Costs 90\u003c\/p\u003e \u003cp\u003eBad Debts 91\u003c\/p\u003e \u003cp\u003eBanking Fees 92\u003c\/p\u003e \u003cp\u003eCasualty and Theft Losses 92\u003c\/p\u003e \u003cp\u003eCharitable Contributions 93\u003c\/p\u003e \u003cp\u003eDues 95\u003c\/p\u003e \u003cp\u003eEducation Expenses 96\u003c\/p\u003e \u003cp\u003eImpairment-Related Expenses 96\u003c\/p\u003e \u003cp\u003eInterest 97\u003c\/p\u003e \u003cp\u003eLegal and Professional Fees 98\u003c\/p\u003e \u003cp\u003eLicenses and Regulatory Fees 99\u003c\/p\u003e \u003cp\u003eMaterials and Supplies 99\u003c\/p\u003e \u003cp\u003eMoving Expenses 99\u003c\/p\u003e \u003cp\u003ePayments for Outsourced Workers 100\u003c\/p\u003e \u003cp\u003ePenalties, Fines, and Damages 101\u003c\/p\u003e \u003cp\u003eRepayment of Income 102\u003c\/p\u003e \u003cp\u003eStartup Costs 102\u003c\/p\u003e \u003cp\u003eSubscriptions 103\u003c\/p\u003e \u003cp\u003eSupplies 103\u003c\/p\u003e \u003cp\u003eTaxes 103\u003c\/p\u003e \u003cp\u003eUtilities 104\u003c\/p\u003e \u003cp\u003eChecklist of Nondeductible Expenses 104\u003c\/p\u003e \u003cp\u003eWhat’s Ahead 105\u003c\/p\u003e \u003cp\u003e\u003cb\u003e8. Protecting Yourself with Medical Coverage and Retirement Savings 107\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eMedical Insurance 108\u003c\/p\u003e \u003cp\u003eHealth Savings Accounts 111\u003c\/p\u003e \u003cp\u003eTax Deduction for Health Coverage 113\u003c\/p\u003e \u003cp\u003eRetirement Savings 114\u003c\/p\u003e \u003cp\u003eSEPs 116\u003c\/p\u003e \u003cp\u003eSolo 401(k)s 118\u003c\/p\u003e \u003cp\u003ePension Plans 121\u003c\/p\u003e \u003cp\u003eIRAs 121\u003c\/p\u003e \u003cp\u003eRoth IRAs 122\u003c\/p\u003e \u003cp\u003eStrategies for Retirement Savings 123\u003c\/p\u003e \u003cp\u003eWhat’s Ahead 124\u003c\/p\u003e \u003cp\u003e\u003cb\u003e9. Taking Tax Credits 127\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eBusiness-Related Tax Credit 127\u003c\/p\u003e \u003cp\u003ePersonal Credits Arising from Business 130\u003c\/p\u003e \u003cp\u003eWhat’s Ahead 134\u003c\/p\u003e \u003cp\u003e\u003cb\u003e10. Claiming Your Tax Bonus 137\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eGeneral Rules 137\u003c\/p\u003e \u003cp\u003eLimitations 138\u003c\/p\u003e \u003cp\u003eSpecified Service Trades or Businesses 139\u003c\/p\u003e \u003cp\u003eWhat’s Ahead 140\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart 3 Strategies for Your Business 141\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003e11. Paying Your Taxes 143\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSelf-Employment Tax 143\u003c\/p\u003e \u003cp\u003eAdditional Medicare Tax on Earned Income 146\u003c\/p\u003e \u003cp\u003eAdditional Medicare Tax on Net Investment Income 147\u003c\/p\u003e \u003cp\u003eEstimated Taxes 148\u003c\/p\u003e \u003cp\u003eSales Taxes 152\u003c\/p\u003e \u003cp\u003eWhat’s Ahead 153\u003c\/p\u003e \u003cp\u003e\u003cb\u003e12. Strategizing Year-Round for Tax Savings 155\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTax-Savvy Business Decisions 156\u003c\/p\u003e \u003cp\u003eYear-End Planning 158\u003c\/p\u003e \u003cp\u003ePost-Year Tax Elections 160\u003c\/p\u003e \u003cp\u003eLease Instead of Buy? 161\u003c\/p\u003e \u003cp\u003eDon’t Overlook Carryovers 162\u003c\/p\u003e \u003cp\u003eAudit-Proof Your Return 163\u003c\/p\u003e \u003cp\u003eWhat’s Ahead 165\u003c\/p\u003e \u003cp\u003e\u003cb\u003e13. Strategies for How to Grow 167\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eGetting Certified 167\u003c\/p\u003e \u003cp\u003eGetting a Mentor 168\u003c\/p\u003e \u003cp\u003eOutsourcing 169\u003c\/p\u003e \u003cp\u003eUsing Technology 170\u003c\/p\u003e \u003cp\u003eContinuing to Learn 170\u003c\/p\u003e \u003cp\u003eWhat’s Ahead 171\u003c\/p\u003e \u003cp\u003e\u003cb\u003e14. Strategies as Your Business Grows 173\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eMoving to Larger Quarters 173\u003c\/p\u003e \u003cp\u003eHiring Employees 175\u003c\/p\u003e \u003cp\u003eChanging Legal Status 178\u003c\/p\u003e \u003cp\u003eSelling the Business 180\u003c\/p\u003e \u003cp\u003eFinal Thoughts 181\u003c\/p\u003e \u003cp\u003eIndex 182\u003c\/p\u003e  \u003cp\u003e\u003cb\u003eBARBARA WELTMAN\u003c\/b\u003e is an attorney and a nationally recognized expert in taxation for small businesses, as well as the author of many top-selling books on taxes and finance, including \u003ci\u003eJ.K. Lasser's Small Business Taxes\u003c\/i\u003e and \u003ci\u003eJ.K. Lasser's 1001 Deductions and Tax Breaks.\u003c\/i\u003e She is also the publisher of \u003ci\u003eIdea of the Day\u003csup\u003e®\u003c\/sup\u003e\u003c\/i\u003e, a guest columnist for WSJ.com and contributor to SBA.gov, and is quoted regularly in major publications (including the \u003ci\u003eNew York Times\u003c\/i\u003e, the \u003ci\u003eWall Street Journal\u003c\/i\u003e, and \u003ci\u003eUSA News).\u003c\/i\u003e Visit her at www.BigIdeasforSmallBusiness.com.   \u003c\/p\u003e\u003cp\u003e\u003cb\u003eWhat every self-employed person needs to know about taxes—the new edition of J.K. Lasser's best-selling guide\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003eWorking for yourself, as a freelancer, ride-share driver, or other service provider, can have many advantages, and just as many responsibilities. Keeping accurate records, collecting the right fees, making smart financial decisions—it's all up to you. With \u003ci\u003eJ.K. Lasser's Guide to Self-Employment\u003c\/i\u003e, you will learn the basics of tax reporting, see what types of deductions and credits you can claim, and understand how being self-employed affects your taxes. This clear, reader-friendly guide shows you how to legally keep as much of your hard-earned money as possible, offering valuable tax-saving opportunities to reduce your tax bill and increase your cash flow. \u003c\/p\u003e\u003cp\u003eThoroughly updated to reflect changes in the tax code, this \u003ci\u003eSecond Edition\u003c\/i\u003e features new coverage of the qualified business income deduction, getting certified for government contracts, using technology to grow your business, recent legislation that protect freelancers, and much more. Packed with real-life examples, easy-to-follow worksheets, expert tips, and effective planning strategies, \u003ci\u003eJ.K. Lasser's Guide to Self-Employment\u003c\/i\u003e is the must-have book for any self-employed earner who fills out a Schedule C at tax time.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989485469925,"sku":"NP9781119658733","price":19.95,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781119658733.jpg?v=1761784292","url":"https:\/\/k12savings.com\/products\/j-k-lassers-guide-to-self-employment-isbn-9781119658733","provider":"K12savings","version":"1.0","type":"link"}