Tip number 205 from the book 501 contractor tips. This is not going to be a long video. What tax forms do I use? You will be using a Schedule C tax form if you are a sole proprietor or a partnership if your corporation. I have no idea what tax forms you're going to use because I've never had a corporation. So, Schedule C, get it and learn as much as you can about it. Make sure that you understand what tax deductions go where. And again, have a tax professional do it and explain everything to you. Have a tax professional do it, you take it home and you go through it. You figure out all the expenses, where what goes where, and what you can put, what you cannot write off, and why they're going in those categories or why they're actually going where they're going. So, I mean, if you think that something is not a tax deduction but it is, you're throwing money away. And I've said that before in this chapter, but I'll tell you what, here's some good news for those of you who have been watching these videos. I have one more tip in this tax section that just seems to bore people to death, but they don't understand the importance of it. And then it's off to estimating you.
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Video instructions and help with filling out and completing Which Form 1120 C Contractors
