![]() Subtract your estimated business expenses from your business income to arrive at estimated net income. ![]() For example, if you’re married and have two children, your deduction in 2011 would be $3,650 per person, or a total of $14,600 (4 times $3,650.) Also calculate what your personal exemptions will be for the number of dependents you have. These might include consulting related telephone expenses or business related supplies.Įstimate all your personal deductions such as itemized deductions for home interest, and property taxes will be on your Schedule A. The IRS publication 505 has complete details on business expenses you can deduct. Assess and estimate your annual business expenses related to your consulting. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. Archives
December 2022
Categories |