what Kevin said seems right to me, except that the major difference in my
mind is that you get to calculate your social security payment yourself (oh
joy) and file a schedule C. Or maybe it just seems that way because I keep
doing this one over and over again :) can't figure out what I am supposed
to do with the equipement expenses. But enough whining.
If you are asking at what point you have to report the income separately it
is $400 and I know that for a fact. Also, if you had two different gigs in
the same type of work and one made you less and the other one made you more
you dont just report the one that made more. It is $400 total in the same
type of work. That answer is fresh off the IRS hotline.
Dana
Kevin Graeme writes:
> Don't hold me to this, but I think they are apples and oranges. AFAIK, a
> freelancer can be incorporated. It used to be that most freelancers
> registered as a sole-proprietership, but now that there is the LLC (Limited
> Liability Corporation) I think that's becoming more popular.
>
> The apple to apple comparison for Freelance is Work For Hire. It's the
> business relationship with the company for whom you do work. Freelance means
> that you're responsible for all the taxes and such, but you also keep
> Copyright. Work For Hire means they have you fill out a W-9 and effectively
> put you on their payroll and everything you create is then owned by them.
>
> I'm sure Dana or someone will chime in though to tell me I'm wrong.
>
> -Kevin
>
>
> ----- Original Message -----
> From: "Candace Cottrell" <[EMAIL PROTECTED]>
> To: "CF-Community" <[EMAIL PROTECTED]>
> Sent: Friday, October 17, 2003 8:35 AM
> Subject: Freelancing vs. Home based business
>
>
> > When does freelance work become a home-based business that you have to
> > incorporate, etc? How are taxes different for freelance/odd jobs vs. a
> > full-fledged business?
> >
> > Candace K. Cottrell, Web Developer
> > The Children's Medical Center
> > One Children's Plaza
> > Dayton, OH 45404
> > 937-641-4293
> > http://www.childrensdayton.org
> >
> >
> > [EMAIL PROTECTED]
> >
> >
>
[Todays Threads] [This Message] [Subscription] [Fast Unsubscribe] [User Settings]
