With the beginning of a new year, it’s time to work on filing your taxes! Keeping good records is essential for CRNAs who work as independent contractors. Here’s a quick checklist.
Form 1099-MISC
If you do more than $600 of work for a client, they’ll file a Form 1099-MISC and send you a copy. You should have 1099-MISC by January 31.
Document your deductions
Independent contractors can deduct a wide range of business expenses. Be sure you can document all your expenses with receipts and other records.
Deductible expenses include:
- Travel
- Meals
- Phone
- Insurance
- Office expenses
- Professional fees
- Housing
- Uniforms
- Education/licensing
- Pension contributions