@4muppets wrote:
My first year filing taxes as a MS, I usually do taxes myself but I want to try to use my expenses for ink for my printer and cell phone use on shops. Is this possible? Is this the itemized form? Do I wait for a Schedule C from each company I shopped over 250? Thanks. Sorry lots of questions. Basically do most of you go to tax specialists? Thanks in advance.
You'll get a lot of different answers because I'm sure we all do it slightly differently, and even tax professionals and IRS agents (which we're not) will give different answers. I take an "office supplies" deduction of~$100/year which covers ink, paper, binders, clips, staples, etc. It's purposely on the low side. For most people, the amount of time you spend on your phone for shops relative to the total amount of time renders the savings here negligible. Out of 100% phone usage, how much can you document is used for MSing?
I think the threshold is $600 and it's for a 1099. Yes, you need to wait and some companies will wait until Jan 31 to get them out. You have to claim all income, though, not just what's on the 1099. This is to your benefit as you can deduct mileage (most MSer's biggest deduction) for each shop.
Online tax software (such as TaxAct) will walk you through it.
"Let me offer you my definition of social justice: I keep what I earn and you keep what you earn. Do you disagree? Well then tell me how much of what I earn belongs to you - and why?” ~Walter Williams