What is the name of your state? New Jersey
Hey everyone how are things goin? Im trying to make a bit of money on the web and I am trying to do things under my SSN instead of registering a business. The only problem I do not know how to go about is I am making some money, we'll just say 500 a month. But I have to spend say 250 a month to make this. The 500 a month gets reported to the government via a w9 i filled out for the company that pays me (at least I think that's the main purpose of a w9?) I am wondering how I go about paying taxes on just what I'm profiting. I don't wanna end up getting stuck paying taxes for 500 when I only profited 250. I am 16 years old, 17 soon and living in New Jersey. I would get a business so things would be easier but neither of my parents want to cosign. So I am stuck with having to run things off my SSN as a freelancer. I appreciate anything to help push me up and start succeeding as a young businessman. Thanks again,
Bryan
Hey everyone how are things goin? Im trying to make a bit of money on the web and I am trying to do things under my SSN instead of registering a business. The only problem I do not know how to go about is I am making some money, we'll just say 500 a month. But I have to spend say 250 a month to make this. The 500 a month gets reported to the government via a w9 i filled out for the company that pays me (at least I think that's the main purpose of a w9?) I am wondering how I go about paying taxes on just what I'm profiting. I don't wanna end up getting stuck paying taxes for 500 when I only profited 250. I am 16 years old, 17 soon and living in New Jersey. I would get a business so things would be easier but neither of my parents want to cosign. So I am stuck with having to run things off my SSN as a freelancer. I appreciate anything to help push me up and start succeeding as a young businessman. Thanks again,
Bryan