Side Income & Self-Employment Tax: Expenses, Home Office, Mileage & Quarterly Payments
Turn a year of side-business records into taxable profit under a fictional tax code – ledger totals, mixed-use costs, home office and vehicle methods, equipment depreciation, self-employment contributions, safe-harbour estimates and underpayment interest – with every cell checked as you go.
One-time payment · lifetime access · lessons, labs, exam and certificate included · no subscription.
About this course
In this course you work through one fictional side-business tax year in eight interactive spreadsheet labs. You total an income and expense ledger by category with SUMIFS, split mixed-use costs such as phone and internet into a deductible and a personal share, and compare two home-office methods with MAX. You weigh the mileage rate against actual car costs with SLN depreciation, pro-rate new equipment by purchase month, and calculate self-employment contributions with a cap shared with wages. Finally you choose a safe-harbour option, set quarterly due dates with WORKDAY and compute underpayment interest per day. Every rule is simplified and fictional, and every cell is checked instantly.
Lessons
- The Side-Business Ledger: Categories, Totals & Net Profit Pro
- Mixed-Use Expenses: Business-Use Share & the Personal Part Pro
- Home Office: Area-Ratio Method vs Simplified Flat Rate Pro
- Vehicle Costs: Mileage Rate vs Actual Costs with Depreciation Pro
- Equipment Depreciation: SLN and the First-Year Pro-Rata Pro
- Self-Employment Contributions: Base, Cap & the Deductible Half Pro
- Quarterly Estimated Payments: Safe Harbour Options & Due Dates Pro
- Underpayment Interest: Days Late, Shortfalls & the Year Summary Pro