 |
|
||||||
 |
|
|||||
 |
 |
 |
 |
 |
 |
 |
 |
|
|
||||||
|
|
|||||
|
|
|
|
|
|
|
|
|
#7
04-03-2011, 09:07 PM
|
|||
|
|||
Tax Questions for Sellers (Schedule C)
Taxpayers are required to show all income and related deductions for the tax year. However, you can make various elections that will also vary the outcome. Not reporting expenses is as incorrect as not reporting some income. Schedule C is deemed "earned income". And earned income determines the amount of the Earned Income Credit, which is refundable. Overstating income is a method of increasing this Earned Income Credit. Which is a very serious offense that the IRS is very deeply concerned about. Have a tax firm review what you are filing, and forget about the advise you will receive via the forum. I am not saying that all is bad advise, only some is just knee jerk responses to how to file your 1040!
|
|
|
Similar Threads
|
||||
| Thread | Thread Starter | Forum | Replies | Last Post |
| Few questions about eBay as a seller and buyer | packs | Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions | 11 | 05-28-2009 01:52 PM |
| 1903 New York Highlanders Schedule | Archive | Net54baseball Sports (Primarily) Vintage Memorabilia Forum incl. Game Used | 3 | 02-03-2009 10:53 AM |
| As April 15 approaches ... more tax questions | Archive | Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions | 11 | 04-07-2007 11:48 PM |
| Questions for auctioneers | Archive | Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions | 4 | 11-26-2006 05:05 PM |
| Do you have questions for SCDA? | Archive | Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions | 42 | 02-14-2005 01:00 PM |
Threaded Mode