Thread: Starting a business...sorta
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Old 06-14-2004, 01:33 PM   #1
russotto
Professor
 
Join Date: Jan 2001
Posts: 1,788
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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