self-employeed

 As an independent contractor, you're considered self-employed. You report your income and expenses on Schedule C (Form 1040).

 This schedule allows you to deduct eligible business expenses, which can reduce your taxable income. 

 Taxpayers earning income from residential rentals are required to report this income and related expenses on Schedule E (Form 1040). 

Deductible expenses must be ordinary and necessary for the management and maintenance of the rental property. 

 If you're in the business of buying and selling used cars, you'll report your income and expenses on Schedule C (Form 1040).  

This schedule allows you to deduct business-related expenses, which can reduce your taxable income. 

 Are you an Uber or Lyft driver?  Lower your tax bill by deducting eligible business expenses on Schedule C (Form 1040).  

Keep accurate records of your mileage, fares, and expenses throughout the year. 

 Delivery drivers can deduct various business expenses on Schedule C (Form 1040). 

These deductions can significantly reduce your tax liability. Common deductions include mileage, gas, vehicle maintenance, and cell phone expenses. 

 Cleaners can deduct a variety of business expenses on Schedule C (Form 1040). 

These deductions can significantly reduce your tax liability. Common deductions include cleaning supplies, transportation costs, and advertising.