Taxes

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guildofblades:
You "profits" would end up on a "schedule" k.

Or..schedule K might be specifically for partnerships. There might be a different schedule for sole proprieter.

Either way, its only your profits. Since you have no inventory, that simplifies your accounting greater. Doubly so if you have no capital equipment above $75 as a part of your enterprise. Simply deduct all of your expenses from your publishing income and file it away on the proper schedule form. Debate hard is any deductions you might get from a home office (assuming you are using a dedicated home office) against the increased probability of getting audited. Unless its a larger than small number, its generally not worth it.

Thanks,
Ryan S. Johnson
Guild of Blades Retail Group - http://www.gobretail.com
Guild of Blades Publishing Group - http://www.guildofblades.com
1483 Online - http://www.1483online.com

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