What categories can I write off as a Stone Mason? Taxes?

First year doing taxes as an Independent contractor. I have a box of receipts, a truck, tools etc. Any direction or advice for doing taxes appreciated.

6 Answers

Relevance
  • 1 month ago

    Categories are easy. Download a Schedule C from IRS.gov and they are listed.

    Most business expenses are deductible but no one can tell you specifically without knowing your expenses. 

    You can either read the instructions for Schedule C, which will tell you most of what you need to know, or pay a professional.

    • Login to reply the answers
  • 1 month ago

    All business expenses. Not the truck unless you basically use it only for business, but you could deduct miles if you kept a log.

    • ...Show all comments
    • Pepper, PhD
      Lv 6
      1 month agoReport

      If you use the truck anytime for business you can deduct the business related expenses, either actual expenses or mileage. 

    • Login to reply the answers
  • 1 month ago

    Are you an independent contractor or an employee who is being misclassified as an independent contractor. This kind of question is posted frequently in the forum. There are a lot of employers who like to cheat employees by calling them independents and a lot of workers who are too stupid to know the difference until they see their tax bill. If you have a tax pro doing your return, ask him or her for an opinion and check out IRS Form SS-8.

    • Katie1 month agoReport

      Independent contractor. Do taxes completely on my own.

    • Login to reply the answers
  • R K
    Lv 7
    1 month ago

    you can write off fees for business licenses, cost of tools, vehicle used for work, any costs you incur to run and keep the business going is a write off. just keep all receipts

    for what you spend.

    • Login to reply the answers
  • How do you think about the answers? You can sign in to vote the answer.
  • A.J.
    Lv 7
    1 month ago

    As an independent contractor Stone Mason, consider the value of the truck and receipt amounts. You are advised to have the help of a tax accountant professional, or find appropriate tax software.

    You have double FICA (Social Security and Medicare), and could have potential of writing off travel and tools and all supplies, and maybe truck depreciation, or maybe depreciation for storage/home office. Your clothing has special wear characteristics.

    I certainly do not know enough, except to say a professional helps.

    Maybe ask other people in your field, but most could be doing it wrong.

    • Login to reply the answers
  • 1 month ago

    You are allowed to deduct any "ordinary" and "necessary" expenses for your business.

    However, the chances of you getting this correct on your own are rather slim.

    See a professional.

    • ...Show all comments
    • Pepper, PhD
      Lv 6
      1 month agoReport

      While they use the term necessary, their definition is that it does not have to be a necessity. "A necessary expense is one that is helpful and appropriate for your trade or business. An expense does not have to be indispensable to be considered necessary."

    • Login to reply the answers
Still have questions? Get your answers by asking now.