> auditor" rule of thumb...
That's a good practice. I use the Pay $70 for the insurance (Tax deductible)
at H&R Block.
Go down to your local State Government building and register you fictitious
name with the state (about $25), go to the city offices and get a business
license (about $25 depending on your gross profit), open a bank account. You
should also get the worthless DUNNS number because someone will ask you for
it. That's it, you're a business that is a sol proprietorship. Now if you
want to go LLC file in the state of Delaware for about $70 this will give
you a bit more abilities but you will not be able to do business with any
personal accounts. I don't think it's worth it unless you make substantial
amount of money.
Rick
_____
From: Dana Tierney [mailto:[EMAIL PROTECTED]
Sent: Friday, October 17, 2003 10:26 AM
To: CF-Community
www.irs.gov :) download yourself a schedule C. Instructions re in the 1040
instructions.
As for deductions. I use the "can I see myself explaining this to an
auditor" rule of thumb...
Dana
Candace Cottrell writes:
> dag! ok, so what would I need to do to get all this in motion? I mostly do
$200-$300 (maybe 6 a year)websites for acquaintences. I do have receipts for
all the money I've gotten from them.
>
>
> Candace K. Cottrell, Web Developer
> The Children's Medical Center
> One Children's Plaza
> Dayton, OH 45404
> 937-641-4293
> http://www.childrensdayton.org <http://www.childrensdayton.org>
>
>
> [EMAIL PROTECTED]
>
> >>> [EMAIL PROTECTED] 10/17/2003 10:17:13 AM >>>
> Full-fledged business comes with full-fledged tax deductions.
>
> I can deduct a percentage of my utilities, cleaning supplies, lawn care
and
> more. I can even employ my 8 year old daughter to do the cleaning and pay
> her up to $4700 a year tax free and I can deduct it.
>
> Rick
>
> _____
>
> From: Candace Cottrell [mailto:[EMAIL PROTECTED]
> Sent: Friday, October 17, 2003 8:35 AM
> To: CF-Community
>
> 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 <http://www.childrensdayton.org>
<http://www.childrensdayton.org>
>
> [EMAIL PROTECTED]
>
> _____
>
>
>
>
>
>
>
_____
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