2006-07-05 10:09:21 · 5 answers · asked by Anonymous in Business & Finance ➔ Careers & Employment
no, but the cost of materials should be tax deductable.
2006-07-05 10:12:44 · answer #1 · answered by ColvinBri 2 · 0⤊ 1⤋
hahaha ... interesting the your word beggars is not capitalized but Entrepreneurs is. Something Freudian in there somewhere?
But to answer your question with more questions ... did this beggar have a business plan? Did he present it to the bank to raise capital to buy his sign-making equipment? Are there partners who would also benefit from his profits? Does he put in long hours himself or does he hire minimum wage workers to carry the sign for him?
I think you see where I'm going with this. Not everyone who hand paints a sign qualifies as an entrepreneur.
2006-07-05 10:16:28 · answer #2 · answered by Myrna B 3 · 0⤊ 0⤋
Sure.. and they should report earnings on Schedule C.
Thanks for the reminder, I need to send out some 1099's for the homeless guys I gave money to.
2006-07-05 10:12:59 · answer #3 · answered by scott.braden 6 · 0⤊ 0⤋
No because they are self-employed. They are only doing it for the food or money.
2006-07-05 19:48:17 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Oh absolutely!
I wonder sometimes where they got their fancy black marker!
2006-07-05 10:14:06 · answer #5 · answered by Fun and Games 4 · 0⤊ 0⤋