- Joined
- Nov 28, 2010
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I collect SS and have a small income from sales as an independent sales contractor.
In addition to car expenses, most of my work is done in a home office which is about 10% of the total house sq ft. Some household/personal junk ends up on my desk, but the bulk of use is for work.
Do I consider 10% of household expenses as employment expense? Does this include:
Mortgage payment or just interest?
utilities? (gas, elect)
internet service (90% used for work)
What about my own medical insurance which is Medicare part B and supplemental medical premium? Benefits were provided by my employer when I worked previously to being 65 yrs old. Should they be my employment expenses now? What about the same for my wife which was provided by my employer?
Any other expenses I can use to offset the self employment tax? My self emp income this year was about the same as my employee income last year but the self employment tax is really hitting me hard
In addition to car expenses, most of my work is done in a home office which is about 10% of the total house sq ft. Some household/personal junk ends up on my desk, but the bulk of use is for work.
Do I consider 10% of household expenses as employment expense? Does this include:
Mortgage payment or just interest?
utilities? (gas, elect)
internet service (90% used for work)
What about my own medical insurance which is Medicare part B and supplemental medical premium? Benefits were provided by my employer when I worked previously to being 65 yrs old. Should they be my employment expenses now? What about the same for my wife which was provided by my employer?
Any other expenses I can use to offset the self employment tax? My self emp income this year was about the same as my employee income last year but the self employment tax is really hitting me hard