parking revenue and taxes (in the US)

Discussion in 'Domain Names & Parking' started by ctrlfreak, Dec 22, 2008.

  1. ctrlfreak

    ctrlfreak Registered Member

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    Here's a quick question regarding parking revenue and taxes? How much does one have to earn before entering it into your taxes? Anyone know?
     
  2. Uncle Kracker

    Uncle Kracker Registered Member

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    The cut off is $600 total income, not just from one particular source. So if you have a job you've already earned more than $600 and would be liable for taxes on any/all of it.
     
  3. ctrlfreak

    ctrlfreak Registered Member

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    That's what I needed to know. Thanks! Does anyone know how a corp or llc would help cut back the amount spent on taxable income, if any? I know there are instances of being charged twice for the corp and the individual, so how would that ever save anyone any money??