hit55brooks
Junior Member
What is the name of your state?PA
I ahve a small business which has been open for a month now. I sell sports memorabilia over the internet. I have no employees and do everything myself. When i registered with the state I di not need to apply for an EIN. I am using my SSN as my tax ID. When I file for personal income taxes next year do i just get taxed on the profit I make? I am very straight forward with my money. all my expenses go on one business credit card no personal purchases go on there and all the money i make goes into my business checking account. Basically Im curious how the taxes work with this. Any help is very much appreciated. Thanks
I ahve a small business which has been open for a month now. I sell sports memorabilia over the internet. I have no employees and do everything myself. When i registered with the state I di not need to apply for an EIN. I am using my SSN as my tax ID. When I file for personal income taxes next year do i just get taxed on the profit I make? I am very straight forward with my money. all my expenses go on one business credit card no personal purchases go on there and all the money i make goes into my business checking account. Basically Im curious how the taxes work with this. Any help is very much appreciated. Thanks