How do you guys file taxes? my revenue is only from Yahoo and can I just use a software like turbo tax? How do I know how much to pay for taxes? I'm sorry, but never paid taxes in my life also for employment information when I apply for Credit card.. Do I say that I work for Yahoo??
This would be the first time I would be filling taxes for YPN earnings. You can't say that you work for Yahoo.
you dont work for yahoo, you are self employed or employed by your corporation (if you have one). as for taxes... get an accountant or get shafted by the IRS jmo
You are not a Y! employee. Y! will send you IRS form 1099 at the beginning of 2007. 1099 is for "non-employee compensation." Use this to file your taxes any way u like. I like webturbotax.com myself as it does all the accounting for me, and it's online so I can do my taxes anywhere. As always, IMO
I am a college student and I thik they might cut down on my aid! But who cares I am a lot now from Yahoo!
First you have to fill out a Form 1040 Schedule C, Profit or Loss From Business (Sole Proprietor). You have to fill this out if you operate as a sole proprietor, which is to say you operate as either an individual, under a Fictitious Name, or as a Limited Liability Corporation filing as a sole proprietor; I assume you're operating as an individual. You then have to fill out a Form 1040 Schedule SE, Self-Employment Tax. You'll need some numbers from the 1040 Schedule C, so be sure that you do that before this. Then you fill out Form 1040, U.S. Individual Income Tax Return, just as everyone else does. You'll need some numbers from your 1040 Schedule SE, so be sure to do that first. Additionally, many people are required to file a Form 1040-ES, Estimated Taxes for Individuals; these are payments based on what you estimate you will earn for the current tax year. You are required to file this if you have a self employment tax liability of $1,000 or more (which is to say that you will earn enough on self employment this year so that the taxes you will have to pay will be greater than or equal to $1,000), and you had a tax liability last year (there's some more rules, for more information see this: fairmark.com/estimate/whomust.htm). If you are required to pay then you would've had to file your first payment on April 15 of this year, with subsequent payments due on June 15, September 15, and January 15. Of course, you'll also have to pay state taxes.
I just went to H&R block last year. I normally do my taxes but since I started getting income from my websites I decided to go and have someone with a little more knowledge help me. I did my taxes myself last year and then had them go over it. They found more deductions that I could take. It did cost about $200 to get my taxes done, but it was worth it.
Well i am not sure i can help you guys out , but i use to work for Online Tax Filling US company. They can help you out it was my Ex-Company lol Here's the Link www.taxexact.com Hope it helps you anyway
Can anyone recommend webturbotax.com? I've decided to do my taxes online this year, and I'm looking for a decent program.