13d • General discussion
Expats and/or content creators - PART 3 OF 3
Forms that might need to be file:
- Form 1040: Your standard individual tax return.
- Schedule C (Form 1040): Profit or Loss from Business): Where you report your total self-employment income and deduct business expenses (gear, software, travel).
- Schedule SE (Self-Employment Tax): Used to calculate Social Security and Medicare taxes on your net earnings.
What to Do:
- Track Everything: Keep meticulous records of all income (cash, goods, property) and expenses, even if you don't get a 1099.
- Expect Forms by Jan 31: Forms 1099-NEC/K should arrive by January 31st.
- Report All Income: You must report all earnings on Schedule C, even if under $600 and no 1099 was issued.
- Deduct Expenses: Use Schedule C to lower your taxable income by deducting business-related costs.
- Consult a Professional: A Tax Professional familiar with creator businesses can help navigate multi-platform income.
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Expats and/or content creators - PART 3 OF 3
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