The Cellar - Starting a business...sorta

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- - Starting a business...sorta (http://cellar.org/showthread.php?t=6068)

russotto

06-14-2004 01:33 PM

Quote:

Originally posted by xoxoxoBruce
If you pay it on your personal income tax, legally you pay on ALL money received, not on profit. You're not allowed to deduct costs.

Not true. You declare it on schedule C, and you pay on profit.

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