Texas - What is business personal property rendition?

Personal property taxes are a local issue. The return is normally filed with the city or county assessor's office.

Where are you located?

http://www.hunt-cad.org/

http://www.window.state.tx.us/taxinfo/taxforms/50-...

Texas has a pretty substantial business personal property tax. You must report to the Appraisal District any business equipment that you had in your possession on January 1st. The deadline is

4/15 each year.

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Independent contractors report their income on Schedule C (Form 1040) (PDF), Profit or Loss from Business (Sole Proprietorship), however you may qualify to use Schedule C-EZ (Form 1040) (PDF), Net Profit from Business (Sole Proprietorship).

You should also be aware of Schedule SE (Form 1040) (PDF), Self-Employment Tax, which must be filed if net earnings from self-employment are $400 or more. This form is used to figure your social security and Medicare tax which is based on your net self-employment income.

You may need to make estimated tax payments. See the worksheet in Form 1040-ES (PDF), Estimated Tax for Individuals for more details on who must pay estimated tax. If estimated tax is not timely paid, you may also need to file Form 2210 (PDF), Underpayment of Estimated Tax by Individuals, Estates & Trusts.

Additional Information: Use the search box at the www.irs.gov website for the below referenced items

Publication 334, Tax Guide for Small Business

Tax Information for Businesses

www.irs.gov/publications/p334/index.ht…

Hope that you find the above enclosed information useful. 02/15/2013