How do you approach your taxes after you earned money online?

Danalana

New member
Joined
Dec 13, 2017
Messages
13
Points
0
What forms do you have to fill out? I heard that you have to fill out schedule C with your form 1040, but that is all I know so far. If you only earn around 70 bucks this year from money online, how do you report that in taxes? Thank you.
 

Rob Whisonant

Moderator
Joined
May 24, 2016
Messages
2,481
Points
113
Yes a schedule C is for sole proprietors. Since this is your first year, I would highly recommend hiring an accountant for an hour to sit down and discuss what records you need to keep, file etc. Save his bill since it's going to be tax deductible as a business expense.
 

bisbol

New member
Joined
Jan 22, 2022
Messages
2
Points
1
I think if you know how much you make in a year and you equally know your expenses then definitely you have to pay taxes on your profit.
 
Newer threads
Latest threads
Replies
1
Views
80
Replies
1
Views
175
Replies
4
Views
383
Replies
11
Views
525
Replies
2
Views
228
Recommended threads
Replies
11
Views
4,925
Replies
9
Views
6,630
Replies
2
Views
3,734

Latest postsNew threads

Referral contests

Referral link for :

Sponsors

Popular tags

You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.

Top