Hi this is Shane with sparks tech services in this video we will be continuing our attacks education for truck drivers series by discussing Schedule C part two expense deductions before we continue don't forget to like the video subscribe and also hit that notification bail so you will be able to see all the videos that we will be releasing on Tuesdays Thursdays and Saturdays this is actually video to Schedule C part two expenses our first video was comma text forms followed by owner operators and if you did not see that video or you missed it on Tuesday no worries the link will be in the description box for you to see it you may be asking yourself am I considered an owner operator I'm going to help you answer that question if you received a w-2 from the business or businesses you draw for it in 2023 you are considered a company driver again if you receive w-2s from the business or businesses you draw for in 2023 you are considered a company driver owner operators received a 1099 Mis C form or 1099 miscellaneous form if you receive that form this video is for you now if you're a company driver I think you should still hang around it's a short video just so that you can have education as well because there may be some things you will be able to use while filing your taxes now our owner operator is considered an independent contractor that is why you receive that 1099 miscellaneous form basically an independent contractor is an individual in business for themselves you are considered a sole proprietor we talked a little bit about the Schedule C in the Kama tax forms filed by owner-operators video and I just want to...
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2018 schedule c Form: What You Should Know
The Massachusetts Office of Tax Analysis has prepared these forms. 2018 Massachusetts Qualified State and Local Sales and Use Tax Return (Form 1072): Business These forms are the sole responsibility of the business person and the filing owner. Please read “Business Tax Forms.” 2018 MA State Standard Deduction Form OLD 1040G (Download Form OLD). Note: This form must be filed with the Internal Revenue Service using Form 1040A/MISC to determine eligibility for the Massachusetts income tax deduction and for the Massachusetts credit for sales, use, or other tax paid to and expenses directly incurred in support of qualifying community property in Massachusetts. 2018 Massachusetts Earned Income Credit : Qualifying Family Taxpayer, 2018 Massachusetts State and Local Sales and Use Tax Return. Filing owner must complete Form 5498. 2018 Massachusetts Standard Deduction Form OLD 1040G (Download Form OLD). Note: This form must be filed with the Internal Revenue Service using Form 1040A/MISC to determine eligibility for the Massachusetts income tax deduction and for the Massachusetts credit for sales, use, or other tax paid to and expenses directly incurred in support of qualifying community property in MA. Filing owner must complete Form 5498. Filing owner must be an individual (married, filing a separate return); filing spouse should be filing as a family member under a shared filing agreement with a qualifying family tax-payer. 2018 Massachusetts Standard Deduction (2) (Download Form 5498.pdf). This form is to be presented on the state tax return (Form 1040) and does not apply to property tax. Please complete this form only if you itemized deductions on the 2023 Schedule A. Please review the instructions here for additional information on the filing format. 2018 Massachusetts Medical Expense Deduction (Download Form SS-40) (Filing owner must be a Massachusetts resident.) This form must be attached to Form 1040, 1040NR, or 1040A, or filed on line 5 of Form 1045. It is an entitlement to the MA medical expense deduction if you were a Massachusetts resident, and you paid medical expenses for yourself or a member of your family, including health insurance premiums, out-of-pocket costs, or deductibles in excess of 2,000 for personal expenses. The filing owner must not be a person with more than 5,000 deducted for medical expenses. Filing owner must submit a certification of the 2,000 limitation on medical expenses.
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