Income Tax Preparation
GainsKeeper Compatible
  Employment Income and Related Deductions

Many business owners have working spouses who are pulling down a salary, and who will need to report income and associated deductions from a W-2 on their joint return.

What's more, many business owners themselves start out as moonlighters while holding down a day job for a larger company. Even after a small business is established, it's not uncommon (or a bad idea) for the owner to have another job on the side, to provide supplemental income when business is slow.

  • Employment income must be reported if any of the scenarios described above apply to you, or if you yourself are a wage earner rather than a business owner. You'll need to be aware of the rules for reporting income from a job on your tax return.
  • Farm income must be reported on Schedule F, for those of you that have it.
  • Miscellaneous income comes in many forms and guises. In this section we'll provide you with a list of various types of income that are or are not taxable, and tell you how to handle the taxable ones on your income tax return.
  • Employee business expenses are discussed in the second part of this section, including expenses for cars, travel, entertainment, and job-related education.
  • Moving expenses can be deducted by both the self-employed and those employed by others, provided that they are job-related.
  • Child or dependent care credits and benefits round out the list of tax breaks for employees and the self-employed.

Previous

Next
 
CompleteTax Advantages

  • FREE electronic filing with paid processing.

  • CompleteTax prepares both your federal and resident state returns.

  • File electronically and you may qualify to use our Refund Anticipation Loan (RAL) service, which lets you get your refund FAST!

  • Our useful Tax Guide provides tax tips and straightforward answers to your tax questions.

  • If you owe a balance on your taxes, you can conveniently pay it by credit card. This service is available for federal taxes and certain states.

  • Take advantage of FREE e-mail support, or an online chat service that gets your technical questions answered for a small fee.

  • Learn how to file an Amended Return.



Home | Login | E-file Status | Electronic Filing | Help | Tax Tips Newsletter | System Requirements | Privacy Policy
About CCH | Contact Us | Online Chat Service | Tell a Friend | Partner/Affiliate Opportunities | Site Map
© 2008, CCH. All Rights Reserved.