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Tax Question for Tom Copeland
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llove530
Daycare.com Member
Join Date:
Jan 2011
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#1
Tax Question for Tom Copeland
01-19-2011, 08:06 PM
Isn't there a certain amount of money you can earn and not have to report?
Thx!
lvt77
Daycare Member
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Dec 2010
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#2
01-19-2011, 08:07 PM
i believe it is $400.00
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kendallina
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#3
01-19-2011, 08:08 PM
Originally posted by
lvt77
i believe it is $400.00
That's what I thought too...
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TomCopeland
Business Author/Trainer
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#4
01-19-2011, 09:35 PM
Income
Nope. You must report $1 as income on Schedule C. Any income must be reported. If your profit is less than $400 you don't owe any social security tax on it, but it must be reported.
http://www.tomcopelandblog.com
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