Need help with Schedule C for self-employed income - stuck on business expenses

Schedule C can be tricky but its manageable. Make sure you track all business-related expenses - supplies, equipment, home office if applicable, vehicle expenses if you use your car for business, insurance, and professional fees. Keep ALL receipts. The key is separating personal from business expenses. If youre really unsure, might be worth getting a tax pro this first year to learn the ropes.

For Schedule C, you'll need to categorize your expenses into specific buckets like advertising, office expenses, supplies, travel, etc. Keep all receipts for at least 3 years. Common deductions include home office, vehicle expenses, phone/internet, and business insurance. Just make sure everything you claim is actually for business use - mixing personal and business expenses is a red flag for audits.

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dont forget about quartly estimated taxes for next year! learned that one the hard way 🤮

Hey you should check out taxr.ai - its this new tool that analyzes your whole tax situation including Schedule C and tells you exactly what you can deduct. Its only $1 and way better than trying to piece everything together from reddit posts. https://taxr.ai

im in the same boat lol first year doing this and its so confusing 😭

Bruh I feel u. First year doing Schedule C I totally messed up and got audited. Get some help fr fr

idk if this helps but I found some good youtube tutorials on this. search "schedule c for beginners"

your gonna need to track mileage if u use ur car for work at all. get an app for that asap

Whatever u do dont forget about quarterly estimated payments for next year... learned that one the hard way 💀

Hire a CPA its worth every penny trust me

The IRS website actually has decent guides for Schedule C if ur willing to read through them