What forms do I need to do my taxes being self employed? I have the c-EZ form. Which others do I need?

Schedule C-EZ can only be used if your expenses are less than $5,000.

You record somebody tax return yet upload a schedule C or schedule C-EZ to rfile your self-employed earnings. The 1099MISC is the style that could acquire to you to rfile earnings you gained as an autonomous contractor. you will situation 1099MISC on your settlement hard artwork. there's no IRS style called 1099EZ.

1040 and schedule SE. You might need schedule C instead of C-EZ.

1040, Sch C ez and maybe SE as well

1040, schedule C-EZ, schedule SE.

Schedule SE and the 1040 to correctly fill out and complete your 1040 income tax return for this purpose along with the schedule C or CEZ if you can qualify to use the CEZ for your business operation.

And you do have to sign the completed tax return where the below statement is included at bottom of the page of the 1040 tax form for your use at this time in your life.

Under penalties of perjury, I declare that I have examined this return, and to the best of my knowledge and belief, it is true, correct, and accurately lists all amounts and sources of income I received during the tax year.

Your signature Date Your occupation Spouse’s signature. Date Your occupation

If a joint return, both must sign.

Be sure that you do have very good detailed written records and a copy of the worksheet that you used to determine the amount of support that you and others paid for this purpose available in case the IRS should decide that they would want you to verify some of the information that you entered on your 1040 income tax return and printed a copy for your records and signed the other copy to send to the IRS for processing at that time in your life.

Use the search box at the www.irs.gov website for What is Small Business Filing Season Central?

Small Business Filing Season Central is your one-stop assistance center for filing your business returns.

http://www.irs.gov/businesses/small/article/0,,id=...

Business Expenses

Business expenses are the cost of carrying on a trade or business. These expenses are usually deductible if the business is operated to make a profit.

http://www.irs.gov/businesses/small/article/0,,id=...

To be deductible, a business expense must be both ordinary and necessary. An ordinary expense is one that is common and accepted in your trade or business. A necessary expense is one that is helpful and appropriate for your trade or business. An expense does not have to be indispensable to be considered necessary.

It is important to separate business expenses from the following expenses:

• The expenses used to figure the cost of goods sold,

• Capital Expenses, and

• Personal Expenses.

Note: You can elect to deduct or amortize certain business start-up costs. Refer to chapters 7 and 8 of Publication 535, Business Expenses.

Personal versus Business Expenses

Generally, you cannot deduct personal, living, or family expenses. However, if you have an expense for something that is used partly for business and partly for personal purposes, divide the total cost between the business and personal parts. You can deduct the business part.

Page Last Reviewed or Updated: June 10, 2011

Filing and Paying Your Business Taxes

Information about which form you may be required to file, where to send your return, and how to pay your business taxes

http://www.irs.gov/businesses/small/article/0,,id=...

The form of business you operate determines what taxes you must pay and how you pay them.

The federal income tax is a pay-as-you-go tax. You must pay the tax as you earn or receive income during the year. An employee usually has income tax withheld from his or her pay.

For additional information refer to Publication 583, Starting a Business and Keeping Records.

Estimated tax

Generally, you must pay taxes on income, including self-employment tax (discussed next), by making regular payments of estimated tax during the year. For additional information, refer to Estimated Taxes.

Self-Employment Tax

Self-employment tax (SE tax) is a social security and Medicare tax primarily for individuals who work for themselves. Your payments of SE tax contribute to your coverage under the social security system. Social security coverage provides you with retirement benefits, disability benefits, survivor benefits, and hospital insurance (Medicare) benefits.

Generally, you must pay SE tax and file Schedule SE (Form 1040) if either of the following applies.

•If your net earnings from self-employment were $400 or more.

For additional information, refer to Self-Employment Tax.

Employment Taxes

When you have employees, you as the employer have certain employment tax responsibilities that you must pay and forms you must file. Employment taxes include the following:

http://www.irs.gov/businesses/small/article/0,,id=...

Hope that you find the above enclosed information useful. 02/19/2012