J.K. Lasser's Your Income Tax Professional Edition 2017

Chapter 40 Income or Loss From Your Business or Profession

1. 40.1 Forms of Doing Business
2. 40.2 Reporting Self-Employed Income
3. 40.3 Accounting Methods for Reporting Business Income
4. 40.4 Tax Reporting Year for Self-Employed
5. 40.5 Reporting Certain Payments and Receipts to the IRS
6. 40.6 Filing Schedule C
7. 40.7 Deductions for Professionals
8. 40.8 Nondeductible Expense Items
9. 40.9 How Authors and Artists May Write Off Expenses
10. 40.10 Deducting Expenses of a Sideline Business or Hobby
11. 40.11 Deducting Expenses of Looking for a New Business
12. 40.12 Home Office Deduction
13. 40.13 Write-Off Methods for Home Office Expenses
14. 40.14 Allocating Expenses to Business Use
15. 40.15 Business Income May Limit Home Office Deductions
16. 40.16 Home Office for Sideline Business
17. 40.17 Depreciation of Office in Cooperative Apartment
18. 40.18 Net Operating Losses (NOLs)
19. 40.19 Your Net Operating Loss
20. 40.20 How To Report a Net Operating Loss
21. 40.21 How To Carry Back Your Net Operating Loss
22. 40.22 Election to Carry Forward Losses
23. 40.23 Domestic Production Activities Deduction
24. 40.24 Qualified Production Activities
25. 40.25 Figuring the Deduction on Form 8903
26. 40.26 Business Credits
27. 40.27 Filing Schedule F
28. 40.28 Farming Expenses

As a self-employed person, you report income and expenses from your business or profession separately from your other income, such as income from wages. On Schedule C, you report your business income and itemize your expenses. Any net profit is subject to self-employment tax, as well as regular tax. A net ...