I tried to use the H&R Block tax estimator - which I've used every year for the past few years - and it's giving me a zero for the result even though what I made with self employment falls within the bracket for earned income credit.
2006-11-30 06:19:08 · 4 answers · asked by Someday Soon 2 in Business & Finance ➔ Taxes ➔ United States
You can still qualify for EIC but you will have to pay Self Employment Tax on the net Self Employment income. This is the Social Security and Medicare Tax on your income.
2006-11-30 06:22:49 · answer #1 · answered by Wayne Z 7 · 1⤊ 0⤋
As long as you have earned income - which self-employment certainly is - you qualify for EIC. The only thing you need to check is if your AGI is under certain limits. See publication 596 at the IRS website: http://www.irs.gov/pub/irs-pdf/p596.pdf
2006-11-30 06:49:36 · answer #2 · answered by Kevin K 3 · 1⤊ 0⤋
i think you do, check with irs and ask that general question. don't have to leave a name.
2006-11-30 06:22:26 · answer #3 · answered by kris 1 · 0⤊ 0⤋
yes
2006-11-30 06:20:34 · answer #4 · answered by Nicholas F 1 · 0⤊ 0⤋