tax advance or holiday cash for self employed folks?

Question

i have seen many questions already about holiday tax advance. but i wanted to know about .....what if your self employed can you still get or apply for an advance? i have someone who i usually get to do my taxes so if i go to h&r do i have to file my taxes with them? and last are these advances credit based?

a little more info i have been self employed for several year and have always gotten a refund i have six kids 4 of them under 12

Answer 1

Chances are, if you are self employed, you are not going to get a refund. That's what the tax advance is all about. The tax preparers are buying your refund from you in advance of you receiving it. As a self-employed person, you have not paid any source deductions on your income so there is nothing to credit to you.

Also, be warned that the tax preparers who are buying your refund will take a percentage that can sometimes be more than any interest you might pay on a loan (if you have a decent credit rating) for a similar period of time.

Answer 2

It's possible for a self-employed person to get a refund even if they don't make estimated tax payments.

First, they make very little money and then they have 2 qualifying children for EIC.

However, most places that offer refund anticipation loans won't do so if EIC is the source of the refund. The IRS scrutinizes self-employed people harder than W-2 recipients.

Answer 3

Personal expenses will NEVER be deductible at all OK. Very possible to end up with some TIP income amounts also at this time in your life RIGHT so do not forget about the TIPS that you might also receive while performing your services OK. ORDINARY and NECESSARY and then only when you will have written proof to prove that they were ordinary and necessary when the IRS would want you to be able to verify the amounts that you did enter on your 1040 income tax return during the tax filing season OK. Whether you do get the 1099 form from THEM or you do NOT get the 1099 form from them you would still be required to Use your good daily written receipt books and records in order to correctly complete your 1040 income tax return during the 2013 tax filing season. Self employed independent contractor using your daily written receipt book records to report your gross income on the schedule C or CEZ along with the SE to determine your NET PROFIT or LOSS from your business income during the tax year for this purpose. SE your social security medicare tax amounts that you would OWE on your NET profit amount that would end up the page 1 line 12 from the schedule C and any SE tax owed page 2 line 56 and page 1 line 27 Deductible part of self employment tax attach schedule SE line 27 $$$ amount. Starting, Operating, or Closing a Business Starting a Business Starting a business could be exciting. If you're considering starting a business, start here. This section provides information on everything from a checklist for a new business, to selecting a business structure, and more. www.irs.gov/Businesses/Small-Businesse... www.irs.gov/Businesses/Small-Businesse... Hope that you find the above enclosed information useful. 05/13/2013

Answer 4

Unless you are making quarterly payments and paying in too much, your "refund" isn't really a refund, but is an Earned Income Credit. You could check with H&R Block to see if they are doing their advance cash thing for EIC, and whether they are `credit related. What they are doing this year is totally different from what they did last year.

Answer 5

The whole process is different this year. It is no longer about your taxes-it is strictly a cash advance on a debit card so "NO" you won't have to do your taxes with whoever you get the loan from.

Answer 6

Try visiting this website http://www.myloanbuzz.com

It offers different type of loans