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#1
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Income Tax for Side jobWhat is the name of your state (only U.S. law)? South Carolina I would like to know if you need to declare as Income when you help a friend fixed his computer and he pay you for doing it, This is not a regular basis you only do it thru a friend referral. I ask this question because I just want to know the correct way to do it because apprximately at least once every 2 weeks that I help fixed someone else computer and averaging like $100 a month extra income but not all the time sometimes there are months that I didnt fixed any computer. Does it really matters for IRS or You are exempted from this type of income? |
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#2
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| Yes it's income. It should be reported on schedule C with any losses earning the money applied to it. Since you aren't getting over $600 a year from a single person, unless you are audited and the IRS does a "T" account with your income and outfloow, they will probably never know you are getting the money.
__________________ When you are a Bear of Very Little Brain, and you Think of Things, you find sometimes that a Thing which seemed very Thingish inside you is quite different when it gets out into the open and has other people looking at it. --W. T. Pooh (aka A. A. Milne) |
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