In addition to my normal job, I did some freelance consulting on the side in 2016. I billed my time and mileage to my client at the 2016 IRS rate. However, he has not yet paid my invoice. Can I deduct the mileage as a business expense?
BigPuma said:
Assuming it is greater than $100, you will receive a matching notice if you do not show on the year in which earned. IF this is non employee compensation, this is a perfect reason why you should keep track of your earnings and report them regardless if you receive a 1099 or not.
Get out of here with your logic.BigPuma said:
Or you just check the accrual method of accounting on the Schedule C and go about your merry way. It is a thought.
combat wombat said:
The notice you get from the IRS will include a "bill" for the additional tax owed. You can wait for that and pay then. Amending is better, but don't pay your CPA $500 to do it.
BigPuma said:
Or you just check the accrual method of accounting on the Schedule C and go about your merry way. It is a thought.
combat wombat said:
It can go on a schedule C. However on page one there is a line for miscellaneous income and you can mark that as subject to self-employment tax. If he has no expenses related to the 1099, that might be easier.
I use Turbotax Deluxe (obviously not successfully)Leander - Ag said:
what software do you guys use to do your taxes?
Is credit karma legit?