paying taxes for income from production

[cdot757]

just had a question about income from producing. do yo have to report the money made from sc or any other website you use to sell beats? just wondering

 

[rjd2? yes rjd2.]

yes, you need to report your total annual income to the IRS.

 

[cdot757]

1099? is taht the form?

 

[Wedges2]

I'm thinkin it's going to be the 1040A if my memory serves me right. Atleast if your not gonna get many deductions.

 

[deRaNged 4 Phuk'dup]

Only report what you've been paid in checks/moneyorder/digital transaction(paypal)that someone else may report as an expense or that may leave a papertrail.

If you're paid cash w/no receipt, you're good. Even though I report all my income, because I don't want to say I withhold anything on the net.

1099 form works, but that's used to report income you made without paying tax on it basically from doing freelance work. Others here have dropped hints at a better way. I don't know it.

 

[cdot757]

o ok good looking deranged ,man i got to link up with you one day i know me and you deal with soem of the same artist out the 757 hope all is well

 

[deRaNged 4 Phuk'dup]

^^^You out Norfolk? Or am I confusing you w/someone?

Either way, yeah, we gotta catch up.

 

[cdot757]

yea im out norfolk im @Iblasian757 on twitter. u probley heard of them but i worked with a.driver ,carnage45 among others on the southside