Tips to file taxes as an independent contractor

tax filing, taxAre you a new independent contractor who is new to tax filing? The post here jots down the steps you have to go through to file taxes as independent contractor. First and foremost, it’s to be cleared that when you are the independent contractor, you would be subjected to some different regulations, standards & payment processes in comparison to the regular employees.

When you register as the independent contractor to file your tax payments, Internal Revenue Service would have you fill up a questionnaire to ensure that you actually qualify for the status of independent contractor. If you qualify as the independent contractor or sole proprietor, you would have to file Schedule C Internal Revenue Service form where you would be providing your name, SSN and address.
Then you would have to detail about your business & enter business code. Also you have to specify whether you have initiated or acquired your business during tax year.

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