“You’ll report your self-employment income on a form called the Schedule C. It includes information on your income and expenses, and you’ll attach this to the rest of your tax return. This ensures that your income is taxed properly!”
“Probably! The standard mileage rate for 2017 is 53.5 cents per mile, and it’s calculated to include the average cost of gas, car payments, car insurance, maintenance, and other vehicle expenses. It’s pretty generous, so if you drive upwards of 5,000 miles per year for work, and don’t have a gas-inefficient car, then you’ll probably get a larger tax deduction than if you deducted every gas, car payment, and maintenance receipt.”