When do I need to pay taxes?
- Thread starter Bonaparte
- Start date
unclemike
BANNED
- Nov 6, 2012
- 827
- 987
As a self employed business owner you should show proof of income and claim all earned money. If your earned money is below $7,000 I think you do not need to claim it?
You need a 1099 form if I am not mistaken.
PS: I am not a tax attorney lol
Cheers,
Unclemike
You need a 1099 form if I am not mistaken.
PS: I am not a tax attorney lol
Cheers,
Unclemike
linkatwork
Registered Member
- Jun 29, 2013
- 73
- 13
You mean CA there?
allegran73hm
Junior Member
- Jun 21, 2012
- 182
- 35
If you're self-employed and don't know much about taxes I would highly recommend you hire a CPA or EA who is based in your hometown. There could be half a dozen different taxes and tax forms you need to file so it's not as easy as getting one answer from an online forum.
if you'r not making at least 5 figures it doesn't matter, they don't have enough resources to check everybody making money online. Even if you'e making 5 figures it rarely matters. Technically you should claim any amount you make...but if you're worried just find a local CPA who will probably help you out for 100 bucks.
maverickk3
Junior Member
- May 13, 2013
- 134
- 30
Or create an offshore company 
thefsboking
Newbie
- Aug 26, 2011
- 12
- 0
From what I know anything over $300.00 should be reported. I you have legitimite expenses they will reduce your income and thus the amount of tax you owe. If you have more expenses than income then you need to find a new business.