self-employment
2 questions
- Finance
Can I deduct my home office on my taxes?
You can deduct a home office only if you are self-employed and use the space regularly and exclusively for business. Employees who work from home cannot take the deduction. Use the simplified method ($5 per square foot, up to 300 sq ft) or the regular method based on actual expenses.
- Finance
How do I pay estimated quarterly taxes?
If you expect to owe $1,000 or more in federal taxes that won't be covered by withholding, you must pay estimated taxes quarterly — due April 15, June 16, September 15, and January 15. Use IRS Form 1040-ES or pay online through IRS Direct Pay.