What? How can you show an expense without having a company that dos somethibg? Unless of course you plan to make money in5 years
1 Like
Here you go:
1 Like
I always did my own return. There’s a spot on the form that asks if someone else can claim you as a dependent, then follow the instructions for it. I always checked yes through college, since being a dependent kept me on my dad’s insurance.
1 Like
Thank GOODNESS!!! Or thank the politicians or something.
I want my son to be able to work a summer job and put the money into a Roth IRA(? if that’s the right one), but I sure as heck don’t want him having to pay our tax rate on it. For some reason I’d assumed that we couldn’t take the deduction on him if he had his own return. Not sure why I thought that it was one or the other. (Under the old rules, he was worth at most $100 many years on our taxes, so I figured him taking a job was definitely the better way to go.)
Can you rephrase your question?
You mean you don’t know that as a self-employed you can deduct this and that? 
That…you can have losses, legally? 
Get a corp, the right one, I will tell you about some “rules” that the rich people use to deduct 14 times a year $1Ks without throwing a party. Or, how your vacation trip with all your family to X state is tax deductible, etc.
You got to know the right people.
I am with a financial group that knows lots and lots of ways to save taxes and make you leverage your expenses. Of course, these advantages are for positive people. Negative go at the end of the line to smell the farts from the positive people. 
For example better than college fund for your kid, you start very early:
$100 a month for 5 years
$150 “”" “” “”
$200 “”" “” “”
Then you stop contributing.
The kid at college age will be able to loan $24K x 3 years, at age 30 or so another $50K and at age 65 will retire with $1M. Tax free!
Also, your kid can work for you and you deduct the money you pay him. 
You guys are good at the stock market and real estate, I study to become knowledgeable in financial tricks.