We have a flea market booth, and pay sales tax, we have no employees, what do we claim on tax forms?

Question

Do I claim monies in and rent out or how do we do this???

Answer 1

You need to file a Schedule C - Profit or Loss From Business. I highly recommend talking to a CPA this year. Once you know how to keep good records, you can decide if you should continue using them.

Answer 2

Schedule C.

Income is entered at the top and expenses are entered at the bottom. You pay income and self-employment tax on the difference.