3 ms·
I wonder if the article perpetuates the confusion about "deductions." I run a small business and use Schedule C on my tax return. Basically, Schedule C has you
by analog31 4y ago
I wonder if the article perpetuates the confusion about "deductions." I run a small business and use Schedule C on my tax return. Basically, Schedule C has you write down your revenues, and subtract your costs. The difference is what ends up in the income section of your main form. "Deductions" come later in the form.
- sokoloff 4y agoThose subtractions of your costs are deductions. Costs of Goods Sold are deductible: https://www.irs.gov/publications/p535#en_US_2021_publink1000208606 https://www.irs.gov/publications/p535#en_US_2021_publink1000...