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Iowa Subtractions From Income

to the total IRA contribution made by both spouses. For Keogh Plans, SEPs, SIMPLE, or Qualified Plans , each spouse must claim his or her individual contributions. One-Half of Self-Employment Tax Enter the amount of self-employment tax

Underpayment of Estimated Tax

What are Estimated Taxes? Estimated tax is the method used to pay tax on income that is not subject to withholding. This includes income from self-employment, interest, dividends, alimony, rent, gains from the sale of assets, prizes

Other Types of Income Forms

a Schedule C, you will also be subject to self-employment tax ( Schedule SE ) but do not worry, TaxSlayer will automatically calculate the applicable amount of self-employment tax according to your overall Schedule C profit.

What forms and schedules do you support on TaxSlayer Web?

different type reports it's taxes on different federal tax forms. Types of Taxes - The kind of business you have drives the type of taxes you pay. There are four general kinds of business taxes: (1) income tax, (2) self-employment tax, (3

What are Passive Activities?

in the rental activity as a real estate professional Any overall loss from a publicly traded partnership (PTP) The deduction for one-half of self-employment tax. The deduction for domestic production activities. The deduction allowed

Section 179 Deduction Limitations

. (If married filing joint return, you must include your spouse’s income as well). In addition, figure taxable income without regard to: Section 179 deduction Self-employment tax deduction Any net operating loss carryback or carryforward Any

Tips for Planning to Start a Business

different type reports it's taxes on different federal tax forms. Types of Taxes - The kind of business you have drives the type of taxes you pay. There are four general kinds of business taxes: (1) income tax, (2) self-employment tax, (3

How do I choose the 1040-EZ, 1040-A or 1040 form?

self-employment income; unreported tips; dividends on insurance policies that exceed the total of all net premiums you paid for the contract; or income received as a partner, a shareholder in an S corporation, or a beneficiary of an estate

How do I figure my EIC or Earned Income Credit?

, as well as any self-employment earnings, count toward the eligibility limits. So do investment earnings. In fact, if you make more than $3,400 in investment income, you cannot file for the earned income credit . "fed"--> Married couples who

Ten Tips on Tax Credits for Child and Dependent Care Expenses

if you are married filing jointly – could work or look for work. 3. You – and your spouse if you file jointly – must have earned income from wages, salaries, tips, other taxable employee compensation or net earnings from self-employment