Quote:
Originally Posted by Bakshi
The standard deduction is $12k, so no effect?
You underestimate the entrepreneurial prowess of Troop.
He has to account for gross sales and income from all sources.
He has to be grossing $1,000 a week from sales, TT, and YT.
The net should exceed $3,000 a month.
Wait till he finds out that his self-employment tax is 15.3% of the profit.