how does that work?
lets say you make and sell items ie bows or tutu's or jewlery what have you-
do you have to claim them on ur taxes as an income?
i was wanting to start up my own inhome bizness selling items that i make and someone said not to b/c of taxes or something.
Asked by Anonymous at 3:55 PM on Feb. 15, 2011 in Money & Work
You need to pre-pay income tax on your projected earnings. It's weird, but if you don't overpay by the right amount, they'll fine you (that happened to us once). Here's the IRS's website for self-employed individuals.
Answer by evwsquared at 4:16 PM on Feb. 15, 2011
Answer by LittleBirdFly at 3:57 PM on Feb. 15, 2011
Answer by Anonymous at 3:57 PM on Feb. 15, 2011
Answer by Anonymous at 4:03 PM on Feb. 15, 2011