If I start a small business from home do I have to pay taxes?
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01-26-2013, 02:02 AM
Post: #7
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Yes, even small businesses run out of the home are subject to income tax, so keep your receipts and set aside some cash in case. If you don't earn a lot, though, you may end up paying little or nothing. Learning to do income taxes is a bit of hassle the first time, but once you know what to do it easy the next year. Anyone who can get through college can do taxes.
BTW, another answerer mentioned that you're in a competitive business with handmade jewelry. The flipside of that, though, is that there is a solid demand for your product category. I'd rather be in a very competitive business than one with few buyers any day. The trick is to identify your market and concentrate on a niche. Every competitive business has undeserved subniches. |
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Messages In This Thread |
If I start a small business from home do I have to pay taxes? - Mani - 01-26-2013, 01:54 AM
[] - Go with the flow - 01-26-2013, 02:02 AM
[] - Ruler Of Hearts - 01-26-2013, 02:02 AM
[] - Deep in Thought - 01-26-2013 02:02 AM
[] - teran_realtor - 01-26-2013, 02:02 AM
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