Self Employment and Your Taxes
Updated: Sep 12
Taxpayers who have self employment income file a Schedule C with their tax return.
This form asks for both the total income and total expenses in all the categories that are reported on your tax return.
Small Business owners may also claim mileage. Add a total miles count to your return if this applies to you.
Small Business owners may also include an office in home deduction if they have one space in their home that is dedicated to your business. For this deduction, your tax preparer will need the square footage of your whole home and the square footage of your used office space.
While your tax preparer only needs your year end totals, you can use the form below to help track your income and expenses during the year. This full document is not needed for your taxes; it is for your personal use.
Business Tax Record Book
The Internal Revenue Service and the Small Business Administration both have excellent resources for small business owners and sub-contractors.
Internal Revenue Service Small Business and Self-Employed Center
Small Business Administration