The IRS Form 1099-NEC is filed by a business to report nonemployee compensation paid to a contractor. This article and video tutorial cover where taxpayers can report that information on their income tax return.
The U.S. federal self-employment taxes will generally apply to self-employment income. This article outlines the rules for SE taxes.
An individual taxpayer would include Schedule C with their Form 1040 to report income and expenses for a sole proprietorship business. This article and video tutorial cover a sample Schedule C for the 2019 tax year.
The home office tax deduction is generally available to self-employed persons and business owners that work from home in a dedicated space. This article covers a sample Form 8829 with Form 1040.
