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Self-Employed Taxpayers | Tempe Community Council
(480) 858.2300

Special Requirements for Self-Employed Taxpayers

 

We MAY be able to prepare your 2016 tax return if you meet the following IRS VITA program requirements:

  • Have gross receipts summarized
  • Business expenses totaled and less than $25,000 (car expenses including total miles driven, miles used for business, miles commuting and miles used for personal use)
  • Used the “cash” method of accounting
  • Did NOT have an inventory at any time during the year
  • Did not have a net loss from your business
  • Had only one (1) business as a sole proprietor, qualified joint venture or statutory employee
  • Did not require any credit card or similar payments that included amounts that are not includible income
  • Are not required to fill Form 4562, Depreciation and Amortization, for this business
  • Had no employees during the year
  • Do NOT deduct expenses for business use of your home
  • Do NOT have prior year un-allowed passive activity losses from this business

If you do not meet these requirements, you will need to have your 2015 tax return prepared by a paid preparer.

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