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January 27, 2024
Question

I have a regular job! But I also have a side job cutting down and cutting up fallen trees and I want to use this side job as taxable also how would I go about doing that

  • January 27, 2024
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Employee
January 27, 2024

You have self-employment income.  For that you need online Premier or any version of the CD/download software.   You will be paying self-employment tax for Social Security and Medicare, and you will prepare a Schedule C for your business expenses ---- like fuel for your chain saw, protective gear you wear, and---um...  vehicle expenses to haul away the branches....not sure what else but you know what you had to spend money on to do your work..

 

https://ttlc.intuit.com/questions/2926899-how-does-my-side-job-affect-my-taxes

 

 

https://ttlc.intuit.com/turbotax-support/en-us/help-article/form-1099-nec/1099-nec/L5qTsBiSe_US_en_US

 

https://ttlc.intuit.com/community/self-employed/help/how-do-i-report-income-from-self-employment/00/26653

 

https://ttlc.intuit.com/community/self-employed/help/what-is-the-self-employment-tax/00/25922

 

https://ttlc.intuit.com/questions/2902389-why-am-i-paying-self-employment-tax

https://ttlc.intuit.com/questions/1901340-where-do-i-enter-schedule-c

 

 

https://ttlc.intuit.com/questions/3398950-what-self-employed-expenses-can-i-deduct

 

 

https://blog.turbotax.intuit.com/self-employed/self-employed-tax-deductions-

 

If your self-employment income was only from cash, personal checks, credit card payments, or cryptocurrency 

Type Schedule C in the Search box and then select the Jump to link. This will take you to where you can enter any cash, personal checks, credit card payments, or cryptocurrency (Form 1099-K) related to your self-employment. You may first be asked some general questions about your business. After you answer them, you’ll be taken to the Let's get income for (your line of work) screen where you can enter this income as Additional Income.

 

Edited to add---your W-2 income goes on the same tax return with the self-employment income

 

 

And....sounds dangerous----be careful out there!

 

 

 

 

 

 

 

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**