Tax Question
How do you figure & file taxes when you only have one employee, yourself?
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02/05/12 12:31pm PST
Viewed by asker 02/11/12 8:42am PST
Viewed by asker 02/11/12 8:42am PST
3 Replies
02/05/12 1:32pm PST
It depends on how the business is set up. If you you set up the business as a sole proprietorship, you would report your income and expenses on schedule C on your federal return. If you were set up as a corporation, you would report income and expenses on form 1120.
02/11/12 5:25am PST
Thank you for replying. I was really needing to know how you pay your Social Security & Medicare payments when your a sole proprietor. Any ideas?
02/11/12 6:34am PST
Latest post
This would be included on Form SE when you file Schedule C.
