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April 11, 2024
Question

A couple of Questions with the Self Employed

  • April 11, 2024
  • 1 reply
  • 0 views

 

1) If my net income is less than the personal amount of $15,000 why do I have to pay ? shouldn't I be getting money back in my return? 

 

2) When I don't claim certain expenses on my self-employment section - the amount that I payback is actually less? - it doesn't make sense. Why would that happen? I guess I would be better off not claiming?

    1 reply

    April 11, 2024

    If you have not paid enough taxes on your self-employment, you will then owe those taxes. Without being able to view your return, we are unable to see what was included that may have disallowed a previous credit entered or a calculation affecting a certain deduction. If you need to verify if an entry has been mistakenly calculated, we believe your best option is to contact our telephone support team for further assistance, as they have the option to view your screen to help you. To contact them, please follow this link: Contact Us. When asked if you wish to receive an email say NO then say "speak to a representative" then hold the line.

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    VMemeAuthor
    April 11, 2024

    Thanks Ginette, 

     

    Here is a few screen shots -  but its okay to claim less expenses right? that may be able to help if you have can advise. 

     

    (personal information removed due to security measures used in public forum)

    April 11, 2024

    Unfortunately, personal information is removed for security in this public forum.

     

    Thank you for choosing TurboTax.