Special Requirements for Self Employed Taxpayers
We may be able to prepare your 2013 tax return if you meet the following IRS VITA program requirements:
- Have gross receipts summarized
- Business expenses totaled and less than $5,000 (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 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 2013 tax return prepared by a paid preparer.
Back
