Standard vs Itemized w Schedule C

[billdozer]

Itemized deductions go on your Schedule A.

It is my understanding u can take a standard deduction on taxes 2018 for a single person 12,000 and still achedule C business deductions.

Seems tedious to itemize when 12,000 is a big number when renewals are 40,000 in retirement w no other income.

Anyone recommend a software platform that does it right like Turbo Tax (which version?) or Free File w ira.gov ?

More good news for 1099 self employed even without itemizing ! Pass through deduction 20% in addition to the 12,000 deduction and 7.5% reduction self employment!

What We Know About the 20% Pass-Through Tax Deduction (So Far) -- The Motley Fool

Itemized deductions and Schedule C filers have no relation. You might be confused with Scheduled A, which is where you can itemize your deductions such as mortgage, state and local tax (capped), medical expenses, charitable contributions, and other non-business deductions; Schedule C deductions are business-related.

And the 7.5% over-the-line deduction has always been there. Although you'll save on your income tax, there will be no change on your self-employment tax.

edit: I'm an enrolled agent and it's my bread and butter. But I lurk in these forums because I would like to sell LI during non-tax season.

 

[PCBI]

PCBI,

I know you said you're retired with $40K in renewals retirement pay.

But you said nothing about the 12,000 -18,000 miles (@ $0.55 a mile tax deduction) you drove this year visiting those insured clients to make sure those renewals keep coming in. Did you forget?

Maybe that would be called semi-retired.

Have a great day!
tinman

12,000 filing single deduction to avoid itemization