2007-02-22 21:49:55 · 5 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
Under the law---yes. Could you get away with cheating the taxman on this one---possibly.
2007-02-22 21:53:17 · answer #1 · answered by Anonymous · 0⤊ 3⤋
Sorry to nitpick on the previous answer, but it is $433 per year, before you have to pay SE Tax. The Schedule SE walks you through the computation.
2007-02-23 07:19:56 · answer #2 · answered by skip 6 · 0⤊ 1⤋
Yes, of course. And if it's more than $400 in any tax year, you must also pay Self Employment tax on the net profit as well.
2007-02-23 06:51:14 · answer #3 · answered by Bostonian In MO 7 · 3⤊ 1⤋
If you made more than 600 dollars throughout the year, yes.
2007-02-23 05:52:53 · answer #4 · answered by Ellie W 3 · 0⤊ 2⤋
Do you HAVE to? OR are you supposed to?
2007-02-23 05:53:44 · answer #5 · answered by Anonymous · 0⤊ 0⤋