Discussion:Schedule J
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Discussion Forum Index --> Basic Tax Questions --> Schedule J
Discussion Forum Index --> Tax Questions --> Schedule J
Smfbookkeeping (talk|edits) said: | 18 March 2008 |
| My client made a rather large profit this year. We are trying to reduce what he owes. Does the self employment tax remain the same, regardless of reducing the actual tax, or am I not preparing the Schedule J correctly? | |
PHIL MOODY (talk|edits) said: | 18 March 2008 |
| Schedule J (income averaging for farmers) has no effect on SE tax. | |
PostingFromWork (talk|edits) said: | 18 March 2008 |
| Sch J doesn't affect SE tax, only income tax. Also, not just anyone can use income averaging. Make sure your client qualifies. | |
Smfbookkeeping (talk|edits) said: | 18 March 2008 |
| Thanks for the responses. My client is a dairy farmer that had, for lack of a better word, a windfall this year. Thanks again, now the Sch J worksheets make more sense to me. | |
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