As a self-employed individual, you need to understand which IRS regulations relate to you, what money you have to declare and what the related deductions are.
With The Accountant Beside You, Lisa London's easy-to-understand approach to explaining accounting, you will learn:
- the accounting basics,
- how to organize your office and accounting system to save hours of work,
- how to select an bookkeeping system that will work for you,
- how to record the money coming and going out
- how to calculate and pay self-employment taxes
- what to do at month end, quarter end, and year end
- how to fill out Form 1040 Schedule C (sole proprietor business income and expense), Forms 1099 and 1096
- how to budget
- how to determine if you have a business or a hobby and why it matters
- and details on what is deductible and what is not, including home office, travel, and mileage.