2007-03-25 16:54:31 · 2 answers · asked by lipread51 1 in Business & Finance ➔ Taxes ➔ Other - Taxes
And I answered it that way. What are you getting your knickers in a twist for?
2007-03-25 17:11:40 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 0⤋
i don't see the question????
well it depends what state you are in. i'm in california, and my home business tax is under self employed and is 12.5%, but since i buy and sell 2-3 houses per month, i take most into my LLC so i pay per schedule c of california corporations. but i put 1 every few months or quarter into a trust thats attached to my roth ira which means i never pay taxes, no capital gains nada..... ok tangent sorry!! lol
if your home business is your only source of income then i believe u can file self employed. or i'm assuming that if u have any other employees (spouse, offspring, neighbor, friend) that u will incorporate soon. even limited partnerships will give u many other options as far as shelters vs. personally taking all the income.u may already know this.......
2007-03-26 00:13:43 · answer #2 · answered by firemedic311 3 · 0⤊ 1⤋