Page 58 - Small Business Taxes

16:29 - 11-Jan-2023
Page 52 of 53
Fileid: … tions/p334/2022/a/xml/cycle03/source
The type and rule above prints on all proofs including departmental reproduction proofs. MUST be removed before printing.
Public official 26 Rent expense 36
K Real estate agent 26 Rental income 21
Kickbacks 24, 39 Securities dealer 26 Repayment of income 14
Securities trader 26 Reportable transaction disclosure
L Office in the home 31 statement 5
Lease bonus 21 (See also Business use of your Reporting self-employment tax 44
Lease cancellation payments 21 home) Restricted property 23
Legal fees 35 Optional methods, using both 43 Retirement plans (See Pension
Like-kind exchanges 17, 25 Ordinary gain or loss 18 plans)
Limited liability company 3 Orphan drug credit 19 S
Listed property 24 P
Lobbying expense 39 Salaries 33
Local transportation expenses 31 Parking fees 32 Sale of a business 17
Lodging 37 Partners, husband and wife 3 Sale of property 17
Long-term capital gain or loss 18 Pay, kinds of 33 (See also Disposition of property)
Lost income payments 23 Paying: Sales of assets 16
Low sulfur diesel fuel production Business taxes 5 Sales tax 37
credit 19 Income tax 8 Schedule C 6
Low-income housing credit 19 Payments to third parties 21 Schedule SE (Form 1040 or
1040-SR) 9
Penalties and fines 39
M Penalty: Schedule SE, filing requirement 44
Meals 37 Failure to file Form 8300 12 SE tax:
Methods for figuring net Failure to file information returns 11 About 9
earnings 41 Failure to furnish correct payee Aliens 40
Mileage rate for vehicles 32 statements 11 Child employed by parent 40
Motor vehicle, alternative credit 18 Underpayment of tax 9 Church employee 40
Community property income 41
Waiver of 11
N Pension plans 35 Deduction for 36
Net operating losses 40 Personal property tax 36 Earning credits 9
Net profit or loss 39 Prepaid expense: Effects of using an optional
method 42
New markets credit 19 Extends useful life 35 Farm optional method 43
Newspaper carrier or Rent 36 Fiscal year filer 44
distributor 26 Professional fees 35
Newspaper or magazine vendor 26 Promissory notes 23 Fishing crew member 40
Nonbusiness bad debt 31 Public official 26 Gain or loss 41
Nondeductible insurance Publications (See Tax help) Government employee 41
premiums 34 Punitive damages 24 Joint return 44
Nonemployee compensation 20 Lost income payments 41
Nontaxable exchanges 17 Q Maximum earnings:
Not income: Qualified plug-in electric drive For 2020 9
Appreciation 24 motor vehicle credit 19 Subject to 40
Consignments 24 Qualified railroad track Methods for figuring net
Constructions allowances 24 maintenance credit 19 earnings 41
Exchange of like-kind property 25 Qualified real property business More than one business 41, 44
Leasehold improvements 25 debt 23 Nonfarm optional method 42
Loans 25 R Notary public 41
Sales tax 25 Optional methods:
Not-for-profit activities 40 Real estate: Farm 43
Nonfarm 42
Notary public 26, 41 Agent 26 Rate 40
Dealer 21
O Rent 21 Regular method 42
Occupations, selected: Taxes 36 Residing abroad 41
Administrator 25 Recovery of items previously Special rules and exceptions 40
deducted 24
Direct seller 25, 26 Refund: Tax rate 9
Executor 25 Time limit for posting income 9
Fishing crew member 25 Inquiries 7 Who must pay? 40
Offsets against debts 7
Insurance agent, former 25 Why use an optional method 41
Insurance agent, retired 26 Related persons: Section 179:
Unreasonable rent 36
Newspaper carrier or distributor 26 Deduction 33
Newspaper or magazine vendor 26 Renewable electricity, refined coal, Property 24
and Indian coal production
Notary public 26 credit 19 Securities:
Dealer 26
Page 52 Publication 334 (2022)