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 » From: Brooklyn, NY Dear TaxMama: Since becoming self-employed (it's been almost three years now!) I've never quite been able to figure out one thing--where do I deduct the business expenses that used to be "professional development" or "unreimbursed educational expenses" that I used to put on my Schedule A? There always seem to be a few options for places where I might put conferences attended, workshops, etc. Is there one particular place that the IRS expects me to put them? Jaye Dear Jaye, Being self-employed means you're in business for yourself. Use the Schedule C. And if you don't find a line for the expenses, use the extra, blank lines on page 2 of the Schedule C. If you don't have enough lines, use an extra piece of paper and attach it to the return. Really, everything you need to deduct will, one way or another, end up on that Schedule C. But, if you're going to be in business for yourself, you really should know more. There's some excellent material, and referrals to good books. You might want to pick up a copy of Jan Zobel's book (under $10.00) Minding Her Own Business: The Self-Employed Woman's Guide to Taxes and Recordkeeping It will give you so much information about the tax aspect of your business. Take care. Best wishes, Eva Rosenberg Your TaxMama  |
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