Is lawn mowing considered a small business even when I am doing it to just make extra money?
2007-04-09 06:46:21 · 3 answers · asked by ? 4 in Business & Finance ➔ Taxes ➔ Other - Taxes
you'd put the income on a schedule cez and list your expenses on the form also,, expenses are the cost associated with producing the income,, like gas and oil for mower,, mower repair, cost of new mower, mileage to go where you mow, X 44 1/2 cents per mile,, dust mask if you wear one,, hearing protection and eye protection if you use those. You will also use a Schedule SE to pay social security tax on your income if over $400. and don't forget to take 1/2 of this tax as a deduction on line 27 of form 1040.
2007-04-09 09:03:00 · answer #1 · answered by Jo Blo 6 · 0⤊ 0⤋
Yes. You should file Schedule C-EZ or the regular Schedule C. Don't forget to keep track of your expenses (gas for the mower, mileage at $0.445/mile if you had to drive to get to the customer, etc.)
2007-04-09 15:07:27 · answer #2 · answered by garyg7 7 · 1⤊ 0⤋
Yes, that's what small businesses (try to) do. (make money)
File Schedule C-EZ and 1040.
2007-04-09 13:55:14 · answer #3 · answered by r_kav 4 · 1⤊ 0⤋