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Form 228s 2025

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The document is a tax return form (FORM 228-S) for the Net Profits Occupational License Tax for businesses operating in Fayette County, Kentucky. It outlines the necessary information required for filing, including business details, income calculations, and tax liabilities. The form must be completed and submitted by April 15, 2022, along with applicable federal forms and schedules.

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Do independent contractors file Schedule C?

Independent contractors generally report their income on Schedule C (Form 1040), Profit or Loss from Business (Sole Proprietorship). Also file Schedule SE (Form 1040), Self-Employment Tax if your net earnings from self-employment are $400 or more.

Do LLC owners file Schedule C?

A single member LLC is disregarded for federal tax purposes and is treated as a sole proprietorship whose owner must file a Schedule C with their Form 1040. If there is more than one member, then, by default, the LLC is treated as a partnership.

What tax forms do I need for my small business?

Include the income from the business on your Form 1040, U.S. Individual Income Tax Return and the appropriate schedule(s): Schedule C (Form 1040), Profit or Loss from Business (Sole Proprietorship); Schedule E (Form 1040), Supplemental Income and Loss; and/or Schedule SE (Form 1040), Self-Employment Tax.

Who files a Schedule C tax form?

Use Schedule C (Form 1040) to report income or loss from a business you operated or a profession you practiced as a sole proprietor. An activity qualifies as a business if: Your primary purpose for engaging in the activity is for income or profit. You are involved in the activity with continuity and regularity.

What is a Schedule D tax form used for?

Youll use Schedule D to report capital gains and losses from selling or trading certain assets during the year. Capital assets include personal items like stocks, bonds, homes, cars, artwork, collectibles, and cryptocurrency.

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What is form 1065 used for?

Form 1065: U.S. Return of Partnership Income is a tax document issued by the IRS used to declare the profits, losses, deductions, and credits of a business partnership. In addition to Form 1065, partnerships must also submit a Schedule K-1 prepared for each partner.

Does everyone file schedule C?

If youre wondering who files a Schedule C Tax Form, the answer is not everyone. It all depends on your business structure. So, youll file this tax form if you own a business and its a: Sole proprietorship (Not registered as an LLC or corporationthis is the default if you havent incorporated your business)

Form 228s 2025

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Do independent contractors file Schedule C?

Do LLC owners file Schedule C?

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What is a Schedule D tax form used for?

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