DESCRIPTION
This module introduces the concept of self-employment income and the associated tax. Furthermore, it provides a framework for participants regarding self-employed income and expenses, then provides an opportunity to complete a 1040 Schedule C. The learning for this module is mostly delivered through exercises and culminates with a detailed case study.
LEARNING OBJECTIVES
- Define the concept of self-employment.
- Calculate self-employment income.
- Identify rules for figuring self-employment tax.
- Identify Tax treatment of health insurance for self-employed individuals.