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What's Deductible on my Schedule C

Q: I am attempting to complete my first Schedule C for my new business and I am not sure what is deductible. Do you have a list of deductible expenses that I can use? A: There are certainly expenses that are common to all small businesses and those that are common to specific industries. Perhaps the best place to start a list of common expenses is right on that same Schedule C that you are preparing to complete. Part II of the Schedule C is titled “Expenses” and provides a great place to start from advertising to car and truck expenses to insurance and interest expense to travel and wages. The fact that the detailed expense items are listed right on the Schedule C indicates those are indeed common expense categories for small business owners.

Jul 27, 2016

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Sewing Self-Employment

Christian Birky is the founder of Lazlo located in Detroit, Michigan. Lazlo is designing menswear essentials and hiring returning citizens to manufacture them in Detroit. From developing the best possible products and implementing sustainable business practices, to creating jobs for marginalized workers, every decision is focused on developing a profitable model for clothing as a force for social change. Christian was awarded an NASE Growth Grant in December 2015 and we look forward to his continued success at Lazlo.

Jul 27, 2016

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NASE Supports Phased in Approach to Overtime Regulation

The National Association for the Self-Employed voiced its strong support for the Overtime Reform and Enhancement Act, a bill that will update the overtime rules while allowing universities, non-profits, and businesses the necessary time to be able to plan and comply with the new rule.

Jul 27, 2016

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New bill aims to slow down Department of Labor's dramatic hike in overtime pay (Woodworking Network)

With the Department of Labor Overtime Rule scheduled to go in effect December 1, 2016, a new bill was recently introduced in Congress to slow down the ruling announced in May. Four House Democrats - Reps. Kurt Schrader, Oregon; Jim Cooper, Tennessee; Henry Cuellar, Texas; and Collin Peterson, Minnesota - introduced The Overtime Reform and Enhancement Act, which gives small businesses, non profits and universities more time to comply with the final overtime rule.

Jul 15, 2016

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NASE Supports Overtime Phase In Legislation

On July 14, 2016, the National Association for the Self-Employed, voiced its strong support for the Overtime Reform and Enhancement Act introduced by Rep. Schrader (D-OR)

Jul 14, 2016

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National Association for the Self-Employed Applauds New Overtime Reform Bill

The National Association for the Self-Employed (NASE), the nation’s leading advocate and resource for self-employed and micro-businesses, today voiced its strong support for the Overtime Reform and Enhancement Act, a bill that will update the overtime rules while allowing universities, non-profits, and businesses the necessary time to be able to plan and comply with the new rule.

Jul 14, 2016

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Here’s What Gig Workers Need to Know About Paying Taxes (Time)

Many don't see themselves as small business owners and aren't ready to deal with one of the great two certainties in life: taxes. In the “gig economy,” millions of people provide services and resources using online platforms. Get on the right software, pay the going rate, and you can find a bed in Tuscaloosa, get a ride in Piedmont, have your screen door repaired in Scranton, and wait for dinner to be delivered to your door in Walla Walla.

Jun 28, 2016

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Ways to Get Funds to Start Your Own Small Business

You officially want to start your own business. Starting your own business isn’t for the faint of heart. It can be extremely stressful and will demand your complete focus. However, it can also be a very fulfilling experience, even if the business does not ultimately succeed. One of the most important things to do when starting a business is to obtain funding. In today’s age, there are a variety of ways to get funding to start your own business. Each has its own advantages and disadvantages, and below are several ways of achieving this.

Jun 24, 2016

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Loans and Taxes

Q: I have saved some money and now have enough to pay off my house, but I don’t want to lose the mortgage interest deduction. Should I pay off the loan or keep the loan to save on taxes? A: There are many rules embedded in the Internal Revenue Code but one that should be listed above all others and is nowhere to be found in the Code is Never, Ever spend money just to get a tax deduction.

Jun 24, 2016

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Baking Self-Employment

Cassandra Tindell is the owner of Mainely Cupcakes located in Indian Trail, North Carolina. Mainely Cupcakes is an online family owned and operated home-based business that serves cakes and cupcakes. Each batch is made to order and never mass-produced. Before starting Mainely Cupcakes, Cassandra was an accountant who worked in corporate America for many years. Joining the NASE in 2015, Cassandra has taken advantage of many of the NASE’s benefits, including our Growth Grants, Ask the Experts and informative videos and articles on the website.

Jun 24, 2016

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