2008 Tax Return for Self-Employment

H&R Block TaxCut 2008 Premium Federal + State + e-file

Product Features

* TaxCut includes up to 5 free federal e-files and H&R Block expertise in every version
* Get extra assistance and money-saving advice to maximize deductions; plus, turn your donations into big tax savings with the included DeductionPro
* Receive live tax advice from an H&R Block tax professional via one-on-one phone or e-mail consultation
* Save time and reduce the chance for error by quickly and easily importing last year's tax and financial data from TaxCut, TurboTax, Quicken, Microsoft Money, and H&R Block DeductionPro software, as applicable
* In the event of an audit, receive personal assistance from an IRS-licensed Enrolled Agent with audit representation expertise--not a self-serve Web site or FAQ page

Self-Employed Individuals Tax Center

Who is Self-Employed?
If you are in business for yourself, or carry on a trade or business as a sole proprietor or an independent contractor, you generally would consider yourself self-employed and you would file Schedule C or Schedule C-EZ with your Form 1040. Not sure if you are self-employed or an employee? Refer to Independent Contractors vs. Employees.
Self-Employment Tax

If you are self-employed you must pay Self-Employment Tax
Self-employment tax (SE tax) is a social security and Medicare tax primarily for individuals who work for themselves. It is similar to the social security and Medicare taxes withheld from the pay of most wage earners.

If you are self-employed you must pay Estimated Taxes
This applies even if you also have a full-time or part-time job and your employer withholds taxes from your wages. Estimated tax is the method used to pay tax on income that is not subject to withholding. If you don't make quarterly payments you can be penalized for underpayment at the end of the tax year.

For more information go to: Self-employment Tax

The Ernst & Young Tax Guide 2008
(Ernst and Young Tax Guide)

Year after year, The Ernst & Young Tax Guide hits national best-seller lists and garners rave reviews. The most user-friendly, most current guide available to preparing your own tax return, this essential resource contains all the information readers need to save on their taxes. The accessible format walks you step-by-step through the daunting filing process, with sample tax forms and schedules demonstrating how to fill out a tax return line by line. As the only guide that provides complete coverage of the new tax law provisions, it's no wonder The New York Times praises it as "the top choice among popular tax books." The Ernst & Young Tax Guide is really two books in one. The first is the official IRS tax guide, Your Federal Income Tax, updated by E&Y to take into account developments in 2007. The second book is the Ernst & Young guide offering comments, explanations, and tax-saving tips on what the IRS tells us--and doesn't tell us. These two books have been combined in one easy-to-read volume to provide taxpayers with the most well-rounded and comprehensive tax guide on the market.

Taxes 2009 For Dummies
(Taxes for Dummies)

Product Description
The one-stop tax guide for the first-time or last-minute filer

Updated and revised for the 2008 tax year, Taxes 2009 For Dummies is the only tax guide on the market that walks readers through the major tax forms line by line, including the 1040 Schedules A through E. Filled with helpful tips and strategies for filing income tax returns accurately and on time, this book is aimed at individuals who want to do their own taxes without hiring a preparer. Financial expert Eric Tyson teams up with tax experts Margaret Munro and David Silverman to answer the most frequently asked tax questions in plain English.

From the Back Cover
Your plain-English guide to filing your own returns accurately and on time

Are you dreading tax season? Never fear - this bestselling guide takes you through the major tax forms line by line, explaining all the latest filing changes. Financial expert Eric Tyson and tax experts Margaret Munro and David Silverman answer all your tax-preparation questions, offer tax-planning advice, and show you how to legally reduce your taxes!

*Ready, set, file - assemble the tools you need to prepare your own return, select your filing status, and determine exemptions
*Tackle the various forms - from 1040EZ to Schedule E, understand how to fill out each form correctly and painlessly
*Comprehend all the tax law changes - understand child tax benefits, improved Health Savings Accounts, Alternative Minimum Tax changes, small-business perks, mortgage forgiveness debt relief, and more
*Negotiate with the IRS - decipher an assessment notice, survive an audit, fix common IRS mistakes, and locate missing refunds
*Clean up your own errors - amend a return, abate penalties or interest, and make the right moves when you can't pay your taxes

Praise for Taxes For Dummies

"The best of these books for tax novices."
- Worth magazine

"The most accessible and creative. It's also the best organized."
- USA Today

"Will make tax preparation less traumatic."
- The Wall Street Journal

"Sound financial advice you can use throughout the year."
- The Seattle Times

Open the book and find:

*How to itemize your deductions
*Hints for keeping good records and staying organized
*Smart year-round personal finance and tax advice
*Questions to ask a tax advisor
*Ways to maximize tax software and e-filing options
*How to file if you're self-employed
*Tax tips for military families
*Tips for reducing your taxes and avoiding penalties

J.K. Lasser's 1001 Deductions and Tax Breaks 2009:
Your Complete Guide to Everything Deductible

Product Description
J.K. Lasser's 1001 Deductions & Tax Breaks 2009 will help you take advantage of every tax break and deduction you may be entitled to. It's clearly organized by subject matter so you can easily find situations that may apply to you. Each tax benefit is also clearly explained-along with the eligibility requirements for claiming the benefit-while planning tips and common pitfalls associated with the benefit in question are discussed in detail. New tax law alerts are also included throughout the book, so you can make the most informed decisions possible.

From the Back Cover

A straightforward guide to taking tax breaks and deductions

Completely revised to reflect important changes in this year's tax laws, J.K. Lasser's 1001 Deductions & Tax Breaks 2009 will help you take advantage of every tax break and deduction you may be entitled to.

This comprehensive guide is clearly organized by subject matter so you can easily find situations that may apply to you. Each tax benefit is also clearly explained-along with the eligibility requirements for claiming the benefit-while planning tips and common pitfalls associated with the benefit in question are discussed in detail. New tax law alerts are also included throughout the book, so you can make the most informed decisions possible.

With this book as your guide, you'll find deductions and tax breaks with regard to:

*You and your family
*Your home and car
*Your job or business
*Your investments and retirement savings
*Medical and dental expenses
*Health savings accounts
*Education costs
*Your charitable giving
*Casualty and theft losses

Packed with hundreds of updated deductions and credits, practical advice, and real-world examples, J.K. Lasser's 1001 Deductions & Tax Breaks 2009 is a book every taxpayer should own.

Don't forget to view the free online supplement to this book for up-to-the-minute tax law changes.

Deduct It! Lower Your Small Business Taxes

Review
"For more information on how to handle inventory and write off the cost of goods, see...Deduct It! Lower Your Small Business Taxes." --San Francisco Chronicle

Review
"Delves deeply into the complex thicket of available deductions, with real-life examples on deducting everything from start-up expenses to car and travel expenses and the costs of benefits."