IRS Tax Tip
Many people who carry on a trade or business are self-employed. Sole proprietors and independent contractors are two examples of self-employment. If this applies to you, there are a few basic things you should know about how your income affects your federal tax return.
Here are six important tips about income from self-employment:
SE Income. Self-employment can include income you received for part-time work. This is in addition to income from your regular job.
Schedule C or C-EZ. There are two forms to report self-employment income. You must file a Schedule …