If I have self-employment income, can I claim the EIC?
Your self-employment income, minus expenses, counts as earned income for the Earned Income Credit (EIC).
You must claim all deductions allowed and resulting from your business. This determines your net self-employment income.
You must claim all deductions — including depreciation. If you don’t, you might owe a penalty for any misrepresentation you made to obtain other tax benefits. These other benefits include the EIC and Social Security benefits.
Can you get deductions for your child's college expenses? Learn if you qualify for tax credits and deductions. Get tax answers from H&R Block.
Discover what items qualify as other itemized deductions with help from the tax experts at H&R Block.
If your dependent child uses student loans, do they count as taxable income? Get answers about these and other tax questions with H&R Block.
Looking for more information about your Maine refund? Find out details on how to check your refund status, who to contact, and more from H&R Block.