California Tax Education Council (CTEC) 60-Hour Qualifying Education Course. 43-Hours Federal Tax Law Course and 2-Hour Ethics Course and 15-Hour California Tax Law Course .

California Tax Education Council (CTEC) — 60-HOUR QUALIFYING EDUCATION COURSE.

California Tax Education Council (CTEC) — 60-HOUR QUALIFYING EDUCATION COURSE Table of Contents;

About CTEC 60-Hour Qualifying Education Course:

CTEC 60-Hour Course is the first step to becoming a tax professional in California and to prepare taxes for compensation.

CTEC 60-hour course Table of Contents:

43-Hours of federal tax law topics,
2-hours of ethics, and
15-hours of California tax law topics.

Tax Practice Internal Revenue Code.
Tax Code, Regulations and Official Guidance (Internal Revenue Code).

Laws Governing Tax Practice:
Any tax professional with the appropriate education, training, and experience is certainly familiar with the U.S. tax code, along with local laws and regulations governing tax practice.

Whether they are working with clients to prepare individual tax returns, working as an accountant for a company, or providing professional tax advice, or interfacing directly or indirectly with the IRS is obligated to bound to code of conduct known as Circular 230.

As an official publication of the governing body of the IRS, the Department of the Treasury, Circular 230 is the defining standard of conduct for any Certified Public Accountant, Enrolled Agent, tax attorney, and anyone else working as a taxation professional.

The document, available on the IRS website, is complex, but tax professionals don’t need to read it line by line to understand it and use it in their practice.

California Tax Education Council (CTEC) — 43-HOUR CALIFORNIA TAX LAW COURSE.

California Tax Education Council (CTEC) — 43-HOUR CALIFORNIA TAX LAW, SCENARIOS and EXAMINATION Tabke of Contents;

BASIC INCOME TAX FORMULA
Income
— Deductions from income
== Tax Liability
— Tax Payments and Tax Credits
== Refund or Tax Due

California Tax Education Council (CTEC) — 2-HOUR ETHICS COURSE.

California Tax Education Council (CTEC) — 2-HOUR ETHICS COURSE Table of Contents.

2-HOUR ETHICS PROFESSIONAL COURSE
The course is based on 2020 Internal revenue Circular 230 ethics tax code.
This intermediate self-study course covers Federal Tax Preparer Ethics and is eligible for 2-hours of CPE credits.

THE IMPORTANCE OF ETHICS IN TAXATION:
As the IRS explained in its guide to frequently asked questions concerning Circular 230, the document outlines not only ethical standards that every U.S. tax professional must adhere to, but also the details of what constitutes a violation of those ethical standards and what sanctions may be applied as a result.

Experienced Tax professionals are familiar with IRS Tax Code, Official Guidance and Regulations (Internal Revenue Code) and the IRS Circular 230 Best Practices PDF governing the tax practice.

The Federal tax law begins with the Internal Revenue Code (IRC) in the Title 26, United States Code.

The Internal Revenue Code (IRC) codifies all federal tax laws, including income, estate, gift, excise, alcohol, tobacco, and employment taxes. These laws constitute Title 26, U.S. Code.

Tax professionals must follow the code of conduct known as Circular 230 when they are working with clients to prepare individual or business tax returns, working as an accountant for a company, providing professional tax advice, or interfacing with IRS.

The Treasury Department Circular No. 230 is an official publication of the governing body of the IRS and the defining standard of conduct for any Certified Public Accountant, Enrolled Agent, Tax Attorney, and anyone else working as a tax professional.

The Treasury Department Circular No. 230 (Rev. 6-2014), the current document, is available on the IRS website.

IRS 2021 Important News!
Receive Advance Child Credit Payments Monthly, beginning July 15:
There have been important changes to the Child Tax Credit that will help many families receive advance payments.

The IRS will pay half the total credit amount in advance monthly payments beginning July 15.

You will claim the other half when you file your 2021 income tax return. The American Rescue Plan Act (ARPA) of 2021 expands the Child Tax Credit (CTC) for tax year 2021 only.

California Tax Education Council (CTEC) — 15-HOUR CALIFORNIA TAX LAW COURSE.

California Tax Education Council (CTEC) — 15-HOUR CALIFORNIA TAX LAW, SCENARIOS and EXAMINATION Tabke of Contents;

IRS Enrolled Agent Exam Review Course SEE Part 1 — Individuals, SEE Part 2 — Businesses and SEE Part 3 — Representation, Practices and Procedures May 3, 2021 – February 28, 2022 Testing Cycle

SEE Part 1 — Individuals

2021 IRS SEE Study Materials and SEE How to Pass the Exam:

2021 IRS SEE Study Materials:
1. When studying for the examination, you may wish to refer to the Internal Revenue Code, Treasury Department Circular 230 and IRS forms, instructions and publications available at IRS forms, instructions and publications.

2. IRS Tax Topics may also be useful when studying for the SEE. IRS Tax Topics contain general individual and business tax information. IRS Tax Topics is available at IRS Tax Topics.

How to pass 2021 SEE:
Rule Number 1: Never lose sight of the purpose of the examination. The purpose of the examination is – to ensure that the successful applicant has demonstrated a minimum level of competence necessary to represent a taxpayer before the IRS. And for that reason, you can expect the majority of the questions on the exam to test the Basics of Taxation Fundamentals.

Rule Number 2: The more previous exam questions you review, the better. For one thing, the IRS Prometric SEE Candidate Information Bulletin provides detailed lists of possible topics for each part of the exam to get a flavor of the questions and the depth of knowledge expected on the SEE.

International Student & Scholar IRS VITA Tax

International Student Higher Education Loan - Private International Student Loan Information!

– Can an international student and resident alien with a valid social security number (SSN) apply for a Federal Student Loan?

– No. Undocumented students, including DACA students, are not eligible for Federal Student Aid.
– However, you may be eligible for state or college financial aid, in addition to private scholarship or a Private Loan.

– As an International Students, you don't have the money for your college to attend and pay tuition.

– With MPOWER Financing for your college loan, you're not required to have a Co-Signer, Collateral or a Credit history. To get a loan apply here.

WHAT IS IRS FORM 8843 FOR?

– As an International Student you must file Form 8843 to explain and document the basis of your claim that you can exclude days present in the United States for purpose of the Substantial Presence Test because:

1. You were an exempt individual.
2. You were unable to leave the United States because of a medical condition or medical problem.

– The Form 8843 deadline for tax year 2020 must be postmarked on or before June 15, 2021.

– If you also must file the Form 1040-NR due to wages earned from employment, the Form 8843 must be sent with the Form 1040-NR on or before April 15, 2021, extended to May 17, 2021, and if you ARE NOT ENCLOSING A PAYMENT, then use this address:

Department of the Treasury
Internal Revenue Service
Austin, Texas 73301-0215
USA

-And if you ARE ENCLOSING A PAYMENT, then use this address:

Internal Revenue Service
P.O. Box 1303
Charlotte, NC 28201-1303
USA

– If you don't have to file a tax return, only the Form 8843 by itself, then mail Form 8843 to this address:

Department of the Treasury,
Internal Revenue Service,
Austin, TX 73301-0215 by the due date June 15, 2021.

WHO IS REQUIRED TO FILE IRS FORM 8843 ONLY?

– You will have to submit Form 8843 only if:

1. You were present in the US in the previous tax year;
2. You are a non-resident student;
3. You are in the US under F-1, J-1, F-2 or J-2 visa status, who are non-residents for tax purposes;
4. You had no U.S. source income in 2020 OR
5. Your only U.S. source income was bank or credit union interest OR
6. You are in a degree program, received a fellowship or scholarship and all of that fellowship or scholarship was applied to tuition, fees, books, and supplies or equipment required for your courses.

WHO IS CONSIDERED RESIDENT OR NONRESIDENT FOR FEDERAL TAX PURPOSES?

– International undergraduate students on J-1 or F-1 visas status are automatically considered non-residents for first five calendar years in the U.S.

– Scholars or Researchers on J visas status are automatically considered non-residents for two out of the last six calendar years in the U.S.

– If you’ve been in the U.S. for longer than the five or two year periods, the Substantial Presence Test will determine if you’re non-resident of resident for tax purposes.

– If your "Total Days of Presence" is 183 or greater, then you have passed the Substantial Presence Test and you are a resident international student for tax purposes. For more information on the Substantial Presence Test, see the IRS website.

NONRESIDENT NO INCOME TAX FILING:

Are you a nonresident international student, for tax purposes, who earned NO income in 2020?
You must file Tax Form 8843 by June 15, 2021 with the IRS ..

1. All international students, scholars and their dependents, regardless of their age, present in the U.S. under F-1, F-2, J-1, or J-2 nonimmigrant visa status, who are nonresidents for tax purposes, must file Form 8843 [pdf] with the IRS, even if they received NO income in year 2020.

2. Form 8843 [pdf]Statement for Exempt Individuals and Individuals With a Medical Condition is an informational statement required by the U.S. Internal Revenue Service (IRS) for students or scholars, and their dependents, if they were present in the U.S. during 2020 under F-1, F-2, J-1, or J-2 non immigration visa status and are nonresident for tax purposes, including their spouses and dependents.

3. You do not need to apply for an Individual Taxpayer Identification Number (ITIN) if you are International student or scholar, for tax purposes and you need to file Form 8843. But if an ITIN has been issued, the ITIN number should be included on Form 8843.

4. On the other hand, you do need to apply for an Individual Taxpayer Identification Number (ITIN) for the individuals who are eligible to be claimed as dependents on your U.S. income tax return Form 1040-NR.

If your dependents are eligible to be claimed on U.S. income tax return Form 1040-NR, they must apply for a Taxpayer Identification Number (ITIN).

5. If you are a student holding F-1 or J-1 visa status, you are eligible to claim your spouse and dependents on your tax return Form 1040-NR only if you are from following tax residence countries:

• Canada
• Mexico
• India
• South Korea

6. How can Students from Canada Complete their Form 8843?

Canadian students, who are exempt individuals, need to complete and mail their Form 8843 to the IRS using their student visa status.

If they do not have a student visa status, they can use the information from their work authorization papers to complete the Form 8843.

7. If you don't have to file a 2020 tax return, mail Form 8843 to by June 15, 2021 to the address:

Department of the Treasury
Internal Revenue Service Center
Austin, TX 73301-0215

NONRESIDENT INCOME TAX FILING:

1. If you are a Nonresident International Student, for tax purposes, with U.S. source of income you’re required to file Form 1040-NR, if you own money, to pay U.S. income tax only on U.S. source income.

2. Therefore, if you are required to file both, Form 8843 and Form 1040-NR, attach Form 8843 to the back of your tax return Form 1040-NR and mail the both documents to the IRS if Form 1040-NR is filed by paper only.

3. If Form 8843 is for a spouse or a dependent eligible to be claimed as a dependent on a federal tax return, Form 8843 for each one of them must be filed and attached to the back of the tax return Form 1040-NR on which they are claimed, if filed paper only return.

If you want to E-File your Form 1040-NR, you can use TaxSlayer software. We are using TaxSlayer software for free. But the free version does not E-File.

4. If your tax return is paper return only, mail the paper tax return Form 1040-NR and the Form 8843 together, by the due date, to the address shown in the tax return instructions.

5. If not enclosing a payment, mail Form 1040-NR and the Form 8843 to the address: Internal Revenue Service Austin, TX 73301-0215 U.S.A.

6. If enclosing a payment, mail Form 1040-NR and the Form 8843 to the address: Internal Revenue Service P.O. Box 1303 Charlotte, NC 28201-1303 U.S.A.

International Student Tax Form 8843, Filing Wizard;

– All international students and scholars with F or J visa status and their dependents are required to complete and submit IRS Form 8843 each year.

– We have designed the Form 8843 Filing Wizard for the entire year, from January 1 to December 31 to make the completion of the IRS Form 8843 easier for you. Part II is for scholars and Part III is for students, and their dependents.

– Our Form 8843 Filing Wizard will walk you through of the Form 8843 filing process and will help you to make sure that you submit all the required information to the IRS, and will provide you with valuable tips as well.

– If you need to complete Form 8843 as a professional athlete Part IV, or as an individual with a medical condition or medical problem Part V, you may need a professional help to complete the Form 8843.

– If you have been in the USA as an international student for more than 5 calendar years and/or you are not sure whether you are a resident or non-resident, see the IRS Determining Alien Tax Status page.

How to use our Form 8843 Filing Wizard:

– Download IRS Form 8843.pdf

– Answer all the Form 8843 Filing Wizard questions and then transfer all the answers to the PDF form of IRS Form 8843.

– When you’re done, sign and date the form. You will then need to mail the completed form to the IRS for processing.

– You may also contact Sprintax or Glacier Tax Prep for more assistance. Sprintax or Glacier

warning We immediately discard all data associated with this form, and will not store, save or share any of the information you enter.

Getting started:

– Make sure you have the following documents before starting:

1. Your Passport and Passport Number;
2. Your Form I-94 Arrival – Departure Record;
3. Your visa status Form I-20, for F visa status holders;
4. Your visa status Form DS-2019, for J visa status holders;
5. Your Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN);
6. Form W-2, Wage and Tax Statement; 1042-S, Foreign Person’s U.S. Source Income; Form 1098-T, Tuition Statement and Forms 1099; (Only if you’re filing Forms 8843 and 1040-NR).

– The Top portion and the Part 1, General Information portion, of the Form 8843 is going to be the same for all international students, scholars and their dependents.

– So, whether you are in US as an F-1 Student or a J-1 Student or a J-1 Scholar or even an F-2 or a J-2 dependent, you are going to fill out the Top portion and the Part 1 portion exactly the same way.

USING OUR FORM 8843 FILING WIZARD, PREPARE THE FORM 8843 FOR Lee Satō, STUDENT FROM JAPAN.

1. Lee Satō came to the U.S. to study on August 1, 2018, in F-1 immigration status. Lee’s passport number is 4682936 and it was issued by her home country, Japan.

Lee’s home address is:
5-3 Yaesu 1-Chome, Chuo-ku,
Tokyo 100-8994, Japan

Lee’s address at school is:
Firestone University, 222 Tread Blvd,
Lauderdale, MN 55000

2. Lee’s U.S. taxpayer identification number is 9NN-NN-NNNN.
3. Lee is attending Firestone University, 222 Tread Blvd., Lauderdale, MN 55000, tele¬phone 612-555-XXXX. Her specialized program is Alternative Fuel Systems and the director is Professor Marri M. Young, also at 222 Tread Blvd., Lauderdale, MN 55000, telephone 612-555-XXXX ext. 1267.
4. Lee has not taken steps to apply for permanent residency. Lee had no income, so she is not required to file any other tax forms. Lee has not left the U.S. since arriving.
5. After completing the Tax Form 8843 for Lee Satō, Student from Japan, review the Summary Review below to make sure you did not miss anything.

Lee Satō Student from Japan Form 8843 Summary Review:

1. Lee reports her most current non-immigration status F-1 on line 1b.
2. Lee needs to complete Line 4a, and on Line 4b she needs to put 366 days of exempted presence for 2020.
3. Lee has to complete only Part I and Part III of Form 8843.
4. Lee’s Form 8843 for the tax year 2020 is due by June 15, 2021.

info – If you have a U.S. taxpayer identification number or social security number enter it in the box on the right, where it says: Your U.S. taxpayer identification number, if any. A taxpayer identification number or social security number is not required to submit this form. However, if you have one, it must be included.

OUR Form 8843 Filing Wizard Completed by Using Lee Satō Scenario.

– Top of Form 8843, Personal Information: Required for everyone completing Form 8843.

• 00. This Form 8843 Filing Wizard is for the year January 1 – December 31, 2020.
• 01. Your first name and initial: LEE (as it appears on your passport).
• 02. Last name: SATO (as it appears on your passport).
info 03. Your U.S. taxpayer identification number if any: Not required to submit the IRS Form 8843. If you do not have one, leave it blank. However, if you have one, it must be included 9NN-NN-NNNN.
ITIN: An ITIN, or Individual Taxpayer Identification Number, that is issued by the IRS for tax processing is available for nonresident and resident students or scholars who cannot obtain a Social Security Number (SSN).
• 04. Address in country of residence: 5-3 YAESU 1-CHOME CHUO-KU, TOKYO 100-8994, JAPAN.
• 05. Address in the United States: FIRESTONE UNIVERSITY,222 TREAD BLVD. LAUDERDALE, MN 55000.

Part I General Information: Required for everyone completing Form 8843.

• 06. 1a Type of U.S. visa (for example, F, J, M, Q, etc.) and date you entered the United States ▶ F-1, 08/01/2018
• 07. 1b Current nonimmigrant status. If your status has changed, also enter date of change and previous status. See instructions. F-1
• 08. 2 Of what country or countries were you a citizen during the tax year? JAPAN
• 09. 3a What country or countries issued you a passport? JAPAN
• 10. 3b Enter your passport number(s) ▶ 4682936
• 11. 4a Enter the actual number of days you were present in the United States during: 2020 __366__ 2019 __365__ 2018 __153__
• 12. 4b Enter the number of days in 2020 you claim you can exclude for purposes of the substantial presence test ▶ 366

Part III Students: Required for F-1/J-1 International Students and F-2/J-2 their dependents completing Form 8843.

• 13. 9 Enter the name, address, and telephone number of the academic or other specified program you participated in during 2020 ▶
  FIRESTONE UNIVERSITY
  222 TREAD BLVD., LAUDERDALE, MN 55000 (612) 555-1234
• 14. 10 Enter the name, address, and telephone number of the director of the academic institution you attended during 2020 ▶
  PROFESSOR MARRI M. YOUNG, FIRESTONE UNIVERSITY
  222 TREAD BLVD., LAUDERDALE, MN 55000 (612) 555-1234 EXT. 1267
• 15. 11 Enter the type of U.S. visa (F, J, M, or Q) you held during: ▶
  2014 2015 2016 2017 2018 __F__ 2019 __F__
• 16. 12 Were you present in the United States as a teacher, trainee, or student for any part of more than 5 calendar years? No
• 17. 13 During 2020, did you apply for, or take other affirmative steps to apply for, lawful permanent resident status in the United States or have an application pending to change your status to that of a lawful permanent resident of the United States? No

Signature Section bottom of page 2 of Form 8843:

• 18. Your signature is required at the bottom of the page 2, Form 8843.
• 19. Date is required at the bottom of the page 2, Form 8843.
• 19. Signature and date is required for everyone completing Form 8843 only.
• 19. Except, if you’re filing and mailing Form 8843 and the paper return Form 1040-NR together, and attaching Form 8843 in the back of your paper tax return Form 1040-NR.
• Do not sign the Form 8843 on the bottom of page 2, but include Form 8843 in the same envelope with your income tax return Form 1040-NR.

Question: What is the difference between F and J visa status for international students?

1. The F-1 visa status is used by international students in general. Students are eligible for an F-1 visa status as long as they have been admitted to university.

2. The J-1 visa status is used for international students who are in a specific educational exchange program.

– Review the above details for accuracy, then download the IRS Form 8843 PDF. Transform the information from here to the Form 8843 PDF. And then the form is ready to be signed, dated and mailed to the IRS.

International Student and Scholar IRS VITA Tax FAQs:

1. Your Passport;
2. U.S. entry and exit dates, Form I-94 Arrival-Departure Record;
3. Tax forms W-2, 1042-S and 1099;
4. F visa status holders Form I-20 or J visa status holders Form DS-2019;
5. Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN);

You will need to apply for an Individual Taxpayer Identification Number (ITIN), Form W-7, to enable you to file your taxes.

If both, you and your spouse are nonresident aliens, were married and file Form 1040-NR, your only option is to file as single. Married nonresident alien status is treated as a single.

WHAT IS INTERNATIONAL TAXATION?

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Your Uber – Lyft Driver Tax Return TY 2019 in 9 Easy Steps:

KENNETH KANTER, UBER – LYFT Driver, Quick REFUND SUMMARY:

01 Line AGI = $13,461: Your Adjusted Gross Income from Form 1040, line 8b.
02 Line Federal = -$1,988: Your Federal Tax You Owe.
03 Line State – CA = $129: Your California Tax Refund.

KENNETH R KANTER, UBER – LYFT Driver, 2019 RETURN FORMS LISTING:

01. FORM 1040 (U.S. Individual Income Tax Return)
02. SCHEDULE 1 (Additional Income and Adjustments to Income)
03. SCHEDULE 2 (Additional Taxes)
04. SCHEDULE C (Profit or Loss From Business)
05. SCHEDULE SE (Self-Employment Tax (Section B–Long)
06. FORM 8995 (Qualified Business Income Deduction Simplified)
07. EIC WRKSH B (EIC with No Dependents)
08. FORM 8879 (IRS e-file Signature Authorization)
09. FORM 1040-V (Payment Voucher)
10. FORM 1099-K (Payment Card and Third Party Network Transactions)
11. FORM 1099-MISC (Miscellaneous Income)
12. FORM 540 (California Resident Income Tax Return)
13. FORM 3514 (California Earned Income Tax Credit)
14. FORM 8879 (California e-file Signature Authorization for Individuals)

Kenneth R. Kanter Form 1040 U.S. Individual Income Tax Return 2019, Page 1 and 2, lines 1-16:

01. Filing Status: Single check box;
02. Your first name and middle initial: Kenneth R.
03. Last name: Kanter.
04. Your social security number: 543-00-1234
05. Home address (number and street): 8705 SOMERSBY WAY
06. City, State, and ZIP code: SAN FRANCISCO, CA 94110.
07. Line 7a = $14,485, this is Your Business Income from SCHEDULE 1, line 9. Enter on Form 1040, line 7a.
08. Line 8a = $1024, this is Your Deductible part of Your Self-Employment tax from SCHEDULE 1, line 14. Attach SCHEDULE SE.
09. Line 8b, $13,461 = $14,485 – $1,024, this is Your Adjusted Gross Income (AGI).
10. Line 9 = $12,200, this is Your Standard Deduction for Single tax payer.
11. Line 10 = $252, this is Your Qualified Business Income (QBI) deduction. Attach Form 8995.
12. Line 11b = $1,009, this is Your Taxable income.
13. Line 12a = $101, this is Your Tax from the Tax Table.
14. Line 15 = $2,047, this is Your Self-Employment Tax from SCHEDULE 2, line 10.
15. Line 18a = $160, this is Your Earned Income Credit (EIC).
16. Line 23 = $1988, this is Your Tax You Owe. Tax You Owe = $101 Tax + $2047 SE Tax – $160 EIC and that = $1988, Your Tax You Owe.

Schedule 1, Your Additional Income and Adjustments to Income, KENNETH KANTER, UBER – LYFT Driver:

   Part I Additional Income: Lines 01 – 09.
– 01 Name shown on Form 1040: KENNETH KANTER.
– 01 Your social security number: 543-00-1234.
– 02 Check Box: No; At any time during 2019, did you
        acquire any financial interest in any virtual
        currency?
– 03 Line 3, $14,485; Business income or (loss), Attach
        Schedule C.
        Enter 14,485 on Schedule 1, line 3, from
        SCHEDULE C, line 31 Net profit or (loss),
        $14,485 profit.
        Enter 14,485 on Schedule SE, line 2.
– 09 Line 9, $14,485; Business income, enter on
        Schedule 1, line 9.
– 09 Line 9, $14,485; Enter amount $14,485 on Form
        1040, line 7a.

   Part II Adjustments to Income: Lines 14 – 22.
– 14 Line 14, $1,024; Deductible part of
        self-employment tax.
        Enter amount $1,024 from Schedule SE, line 13.
        Attach Schedule SE.
– 22 Line 22, $1,024; Amount $1,024 is Your
        Adjustment to Income.
        Enter the amount $1,024 on Schedule 1, line 22.
– 22 Line 22, $1,024; Enter the amount $1,024 on
        Form 1040, line 8a.

SCHEDULE 1 QUICK SUMMARY: KENNETH KANTER, UBER – LYFT Driver 2019 RETURN.

Schedule 2, Your Additional Taxes, KENNETH KANTER, UBER – LYFT Driver:
Part l Tax: N/A.
Part ll Other Taxes: Lines 04 – 10.
– 04 Line 14 = $1,024. Your Deductible part of self-employment tax. Enter amount $1,024 from Schedule SE, line 13. Attach Schedule SE.
– 10 Line 10 = $2,753. Amount $2,753 is Your total other taxes. Enter the amount $2,753 on Schedule 2, line 10.
– 10 Line 10 = $2,753. Enter amount $2,753 on Form 1040, line 15.

SCHEDULE 2 QUICK SUMMARY: KENNETH KANTER, UBER – LYFT Driver, 2019 RETURN.

SCHEDULE C – Profit or Loss From Business, lines 5 – 31, KENNETH KANTER, UBER – LYFT driver:

– 01 Name of proprietor: KENNETH R KANTER
– 01 Social security number (SSN): 543-00-1234
– 01 A Principal business: TAXI LIMOUSINE.
– 01 B Enter code from instructions: 485300.
– 02 F Accounting method: (1) Check the Box Cash.
– 03 G Did you materially participate in this business in 2019: Check Box Yes.
– 04 I Did you make any payments in 2019 that would require you to file Form(s) 1099? Check the Box: No.

  • Form 1099-K:                  $24,000
  • Form 1099-MISC:                 $225
  • Cash Tips from customers: $2,745

  • Gross profit, line 5:          $24,225 (add 1099s)
  • Other income, line 6:         $2,745 Cash tips;
  • Gross income, line 7:       $26,970
    (add lines 5 & 6).

– 05 Line 5, Gross profit: $24,225 Add two 1099s.
– 06 Line 6, Other income: $2,745 Cash Tips.
– 07 Line 7, Gross income: $26,970.00 Add lines 5 & 6.
$26,970.00 is Your Gross income on SCHEDULE C, line 7.

– 09 Line 9, Car and truck expenses: $7,897.
• You provided statement from Uber or Lyft Company that shows 10,200 miles driven transporting Your customers.
• Your record-keeping application (Stride Tax or MileIQ) shows you drove 3,415 miles between rides.
• Your Total miles driven for your expenses deduction equals to 10,200 + 3,415 and that equals to 13,615 total miles driven.
• Multiply your total mileage driven 13,615 miles by 0.58, your Standard mileage rate; 13,615 X 0.58 = 7,896.7 (7,897 rounded).
• And therefore, your Car expenses on SCHEDULE C, line 9 equal to $7,897.

– 10 Line 10, Commissions and fees: $3,775.
UBER tax summary:
• You provided your tax preparer with Uber tax summary statement from Uber or Lyft Company that shows fees you paid for the year.
These fees are considered ordinary and necessary for the ride-share business, and therefore tax deductible.

• Ride-share fee: $2,800
• Safe driver fee: $140
• Airport fee: $515
• GPS device fee: $320

– 22 Line 22, Supplies (not included in Part III): $415.00.

     • Snacks and Drinks for passengers:           $280
     • Auto deodorizers:                                     $15
     • Phone charger for customer use only:       $120
    
– 27 Line 27a, Other expenses (from line 48): $398.

     • Tolls:            $138
     • Parking:                                       $260

– 28 – Line 28, Your Total expenses: $12,485
• Add lines 8 though 27a, Your Total expenses: $12,485.

– 29 Line 29, Tentative profit or (loss): $14,485
• Subtract line 28, (Total expenses = $12,485) from line 7, (Gross income = $26,970), and that equals to $14,485 Your Tentative profit or (loss).

– 31 Line 31, Net profit or (loss): $14,485.
• Subtract line 30 (0) from line 29 ($14,845). Enter profit 14,845, on line 31.
• If profit, enter on Schedule 1, line 3.
• If profit, enter on Schedule SE, line 2.

SCHEDULE C – Profit or Loss From Business (Sheet 2), lines 33 – 48, KENNETH KANTER, UBER – LYFT driver.

SCHEDULE C, Part III – Cost of Goods Sold, lines 33, 34, KENNETH, UBER – LYFT driver:

01 – Line 33, Method(s) used to value closing inventory: a Cost. Check box: a.
02 – Line 34, Was there any change in determining quantities, costs, or valuations between opening and closing inventory? Check box: No.

SCHEDULE C, Part IV – Information on Your Vehicle, lines 43 – 47b, and 48, KENNETH, UBER – LYFT driver:

03 – Line 43, When did you place your vehicle in service for business purposes? (month, day, year) 01/06/1917.
04 – Line 44, Of the total number of miles you drove your vehicle during 2019, enter the number of miles you used your vehicle for:
05 – 44a Business miles: 13,615.
06 – 44b Commuting miles: 2,000.
07 – 44c Other miles: 5,225.
08 – Line 45, Was your vehicle available for personal use during off-duty hours? Check box: Yes
09 – Line 46, Do you (or your spouse) have another vehicle available for personal use? Check box: No
10 – Line 47a, Do you have evidence to support your deduction? Check box: Yes
11 – Line 47b, If “Yes,” is the evidence written? Check box: Yes

SCHEDULE C, Part V – Other Expenses, line 48, KENNETH, UBER – LYFT driver:

12 – TOLLS $138.
13 – PARKING $260.
14 – Line 48, Total other expenses. Enter here and on line 27a. $398

 – 9  Car and truck expenses, line 9: $7,897.
     • You provided statement from Uber or Lyft Company that shows 10,200 miles driven transporting Your customers.
     • Your record keeping application (Stride Tax or MileIQ) shows you drove 3,415 miles between rides.
     • Your Total miles driven for your expenses deduction equals to 10,200 + 3,415 and that equals to 13,615 miles driven.
     • Multiply your total mileage driven 13,615 miles by $0.58, your Standard Mileage Rate; 13,615 X 0.58 = 7,896.7 (7,897 rounded).
     • And therefore, your Car expenses on Schedule C, line 9 equal to $7,897.

– 10 Commissions and fees, line 10: Total = $3,775
        Uber tax summary:
     • You provided tax preparer with Uber tax summary statement from Uber or Lyft Company that shows fees you paid for the year.
     • These fees are considered ordinary and necessary for the ride share business, and therefore tax deductible.

     • Ride-share fee: $2,800
     • Safe driver fee:   $140
     • Airport fee:         $515
     • GPS device fee:   $320
    
– 22 Supplies, line 22:                        Total = $415

     • Snacks and Drinks for passengers:           $280
     • Auto deodorizers:                                     $15
     • Phone charger for customer use only:       $120
    
– 27a Your Other expenses (from line 48), line 27a. Total = $398
Line 48, Total Other Expenses. Enter here (line 48) and on line 27a.

– 28 Schedule C,line 28, Your Total expenses.
    •  Add lines 8 though 27a, total expenses = $12,485.

– 29 Schedule C,line 29, Your Tentative profit or (loss).
    •  Subtract line 28 (Total expenses = $12,485) from line 7, (Gross income = 26,970), and that equals to 14,485 Your Tentative profit or (loss).

– 31 Schedule C, line 31, Net profit or (loss).
    •  Subtract line 30 (0) from line 29 ($14,845). Enter profit 14,845, on line 31.
    •  If profit, enter on both Schedule 1, line 3 and on Schedule SE, line 2.

3. Schedule C, lines 43 – 47b Information on Your Vehicle, Uber – Lyft driver:

– 43 When did you place your vehicle in service for business purposes?
– 44a Business miles.
– 45 Was your vehicle available for personal use during off-duty hours? Yes
– 46 Do you (or your spouse) have another vehicle available for personal use? No
– 47a Do you have evidence to support your deduction? Yes
– 47b If “Yes,” is the evidence written? Yes

4. SCHEDULE SE, lines 2 – 13, Your Self-employment
    Tax, KENNETH KANTER, UBER – LYFT driver:
   

01 Name of person with self-employment income: KENNETH R. KANTER.
02 SSN of person with self-employment income: 543-00-1234.
03 SCHEDULE SE, line 2, Net profit or (loss) from SCHEDULE C, line 31:
From SCHEDULE C, line 31 (14,485), enter Your Net profit (14,485) on SCHEDULE SE, line 2.
04 SCHEDULE SE, line 4a, multiply line 3 (14,485) by 92.35% (0.9235) = 13,377.
Enter amount 13,377 on line 4a. This is important to get the amount on line 6.
05 SCHEDULE SE, line 6, enter 13,377.
06 SCHEDULE SE, line 10. Multiply the smaller of line 6 or line 9 by 12.4% (0.124),
13,377 x 0.124 = 1,659 and enter on line 10. This Your Social Security Self-employment Tax.
07 SCHEDULE SE, line 11, multiply line 6 by 2.9% (0.029) $ 13,377 by 2.9% (0.029) to get $388.
This is your Medicare (hospital insurance) Self-employment Tax.
08 SCHEDULE SE, line 12, Your Self-employment tax. Add lines 10 and 11, 1,659 + 388 = 2,047.
Enter Your Self-employment tax 2,047 on SCHEDULE SE, line 12 and on SCHEDULE 2, line 4.
09 SCHEDULE SE, line 13, Deduction for Your one-half of self-employment tax:
Multiply line 12, (2,047) by 0.50 = 1,024. Enter the amount 1,024 on line 13.
The amount $1,024 is your one-half of your Self-employment tax you can deduct.
You deduct your one-half of your Self-employment tax on SCHEDULE 1, line 14, Deductible part of your Self-employment tax. Attach SCHEDULE SE.

5. Schedule 1, lines 3 – 22, Your Additional Income and
    Adjustments to Income, Uber – Lyft driver:

– Check Box No for at any time during 2019, did you receive, sell, exchange, or otherwise acquire any financial interest in any virtual currency?

–  3 Business income or (loss) = 19,485, enter on Schedule 1, line 3. Attach Schedule C.

–  9 Business income = 19,485, enter on Schedule 1, line 9.

–7a Enter Business income = 19,485 on Form 1040, line 7a.

–14 Schedule 1, line 14. Deductible part of self-employment tax. Enter amount 1,377 from Schedule SE, line 13. Attach Schedule SE.

–22 The amount on Schedule 1, line 14 = 1,377. This is Your adjustment to income. Enter the amount 1,377 on Schedule 1, line 22.

–8a Enter amount 1,377 on Form 1040, line 8a.

6. Schedule 2, lines 4 – 10, Your Additional Taxes,
    Uber – Lyft driver:

– 4   Schedule 2, line 4, Self-employment tax. Attach Schedule SE. From Schedule SE line 12 = 2,753 enter on Schedule 2 (Form 1040 or 1040-SR), line 4.

– 10 Schedule 2, line 10. Add lines 4 through 8, and that = 2,753. These are Your total other taxes. Enter on Schedule 2, line 10 and on Form 1040, line 15.

7. Form 8995, lines 1i – 15, Your Qualified Business
    Income Deduction, Uber – Lyft driver:

– 1i   Form 8995, line 1i, Business Trade: Taxi Limousine. Line 1i (c) 18,108 and this is Your Qualified Business Income.

– 4   Form 8995, line 4. 18,108 is Your Total Qualified Business Income.

– 5   Form 8995, line 5. 18,108 x .20 = 3,622 is Your Qualified Business Income component for deduction.

– 10 Form 8995, line 10. 3,622 is Your Qualified Business Income deduction before the income limitation.

– 11 Form 8995, line 11. 5,908 is Your Taxable Income before Qualified Business Income deduction.

– 14 Form 8995, line 14. Income limitation: Multiply 5,908 x .20 = 1,182. This is Your Qualified Business Income deduction.

– 15 Form 8995, line 15. Qualified Business Income deduction. Line 10 = 3,622, and line 14 = 1,182. Enter the lesser of line 10 or line 14. The lesser = 1,182, enter this amount on line 15 and also on Your Form 1040, line 10. Attach Form 8995.

8. EIC Worksheet B, Form 1040, line 18a, Your Earned Income Credit worksheet, Uber – Lyft driver:

9. Form 1040, lines 4 – 10, Your Additional Taxes, and Form 1040-V, Payment Voucher Uber – Lyft driver:

The Tax Information tab on your partner dashboard (partners.uber.com) will provide everything you need to file your taxes as an independent contractor.
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Invoice and QUICK SUMMARY KANTER UBER DRIVER 2019 Tax Return:

Your Step-by-Step Guide to file your UBER tax return with 2019 UBER Tax Summary, forms 1099-K and 1099-MISC.

Step 1: How to find your earnings on UBER Tax Summary 2019, 2019 forms 1099-K and 1099-MISC.

Your UBER Tax Summary 2919 Sample;

Your UBER form 1099-K Sample;

You should receive your form 1099-K from UBER by January 31st. You use the amount listed in the Box 1a Gross amount of payment card/third party network transactions to report your income on Schedule C.

The gross amount listed in Box 1a also includes the UBER’s fees. On Schedule C You’ll also deduct the UBER’s fees as your business expense.

Your UBER form 1099-MISC Sample;

You’ll receive form 1099-MISC from UBER if you’ve earned $600 or more for your extra affords as nonemployee compensation. On form 1099-MISC the Nonemployee compensation is listed in Box 7, Nonemployee compensation.

Step 2: How to report your earnings and forms you need to file:

You can either use tax software like TaxSlayer that does the calculation for you, or you can file your own forms manually, if you know what forms to use.

To file your 2019 self-employment tax return you need the following forms:

1. Form 1040, U.S. Individual Income Tax Return 2019;
2. Schedule 1, (Form 1040) Additional Income and Adjustments to Income 2019;
3. Schedule 2, (Form 1040) Additional Taxes 2019;
4. Schedule C, Profit or Loss from Business 2019;
5. Schedule SE, Self-Employment Tax, Section B – Long Schedule SE 2019;
6. Form 8995 Qualified Business Income Deduction 2019;
7. Form 1040-V Payment Voucher 2019;

How to file your own Schedule C Step-by Step:

You can use form 1099-K gross amount from Box 1a ($6,845.00) plus your form 1099-MISC amount from Box 7 ($3,859.00) to get your total gross earnings (“Gross receipts or sales”). Then, report your total gross income on your Schedule C line 7, as shown below.

Interview Notes – Kenneth R Kanter;

• IRS Form 13614-C 2019 Intake/Interview & Quality Review Sheet;

Part I – Your Personal Information;
1. Your first name: Kenneth, M.I. R., Last name: Kanter. Daytime telephone number: 415-767-0230. Are you a U.S. citizen? Yes.
2. Mailing address: 8705 SOMERSBY WAY, SAN FRANCISCO, CA 94110.
3. Your Date of Birth: 7/11/1963. 4. Your job title: Self-Employed Driver. Kenneth’s marital status: Never Married. Kenneth’s Social Security Number and SS card: 543-00-1234.

Kenneth's Business Information:

– Kenneth is a cash-basis taxpayer who materially participates in the operation of his business.
– Kenneth did not make any payments that would require him to file Form 1099.
– Kenneth uses business code 485300.
– Kenneth had no prior year unalloyed losses.

Kenneth’s Business Income:

• Kenneth received Form 1099-MISC ($3,859.00) and Form 1099-K ($6,845.00) from the ride-share company. On the side, Kenneth also received an additional $5,000 in cash tip income from individual customers NOT included on the Forms 1099.

Kenneth’s Business Deductible Expenses:

1. Kenneth maintained a written record of mileage, reporting 9,075 business miles, and 2,000 commute miles driven between his home and his first and last customer of the day, 5,225 other miles.

2. Kenneth’s record-keeping application shows he drove 2,925 miles between rides.

3. Kenneth provided IRS certified volunteer tax preparer a statement from Uber Company that indicated the amount of mileage driven and fees paid for the year 2019. These fees are considered ordinary and necessary for the ride-share business.

3.1 Car and truck expenses: Total $6,960 on Schedule C, line 9.
– 9,075 miles driven while transporting customers; 9,075 + 2,925 miles between rides = 12,000 Total miles driven x 58 = $6,960 Total Car and truck expenses.

3.2 Commissions and fees: Total $2,775 on Schedule C, line 10.
– Ride-share fee: $1,800
– Safe driver fee: $140
– Airport fee: $515
– GPS device fee: $320 (Total = $2,775)

3.3 Supplies (miscellaneous expenses): Total $415 on Supplies, Schedule C, line 22.
– Snacks for customers: $280
– Auto deodorizers: $15
– Phone chargers for customer use only: $120
– Meals eaten while waiting for customers: $1,200 (Not deductible)

4. Kenneth spent $129 on tolls and $171 on parking, total = $300. Schedule C, Other Expenses. Line 48 Total other expenses. Enter here and on line 27a.

• Kenneth bought the car and placed his car, a 2016 sedan, in service on January 6, 2017. This is Ramon’s only car and it was available for personal use. The total mileage on his car for 2019 was 44,730 miles, off of that 5,225 was personal miles (Other miles).

• Kenneth did not have health insurance last year. If he has a balance due, he will mail the payment.

Note: To ensure the accuracy of the taxpayer’s return the IRS certified volunteer tax preparer should review and complete the applicable sections of the Form 13614-C.

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