Question by farshicago: How could I prepare tax 2009 for my online business?
How could I prepare tax 2009 for my Online Business?
This is the first time that I want to prepare tax (2009) for my online business in illinois. I have not received w-2, w-3, or w-4 forms…I have not applied form 1065, yet… what should I do?
Best answer:
Answer by Judy
I’d suggest taking your records to a tax professional at least for the first year.
You won’t receive the w-whatever forms. There’s a slight chance you might get a 1099-misc, but probably not. You file from your own records – you DID keep records of all of your sales and related expenses, didn’t you?
You’ll use form 1040, with schedules C or C-EZ, and schedule SE.
The above is for federal. You’ll also have to file a state return.
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