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imported_MARCIN2006
Guest
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I know that this differs from state to state, but I remember in LA we were told we did not even have to file as self-employed until we'd grossed (not net) $5000 in a year from anything we did. Would earnings from TSO/SL or anywhere else not fall under the same thing.....if not a high amount like $5k then a lower amount that one could make before getting into deep trouble with the IRS?
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I'm no expert on the subject, but I'd imagine you are thinking along the right lines. Someone who is making a few dollars here and a few dollars there won't have to worry about filing this as income, and I would HOPE that anybody making thousands of dollars off TSO would have enough common sense to look into it.
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I remember a post said one of the simolean sellers made $100,000 a yr during the first few years of TSO. However I don't remember which one. Not sure if that was true though.
<blockquote><hr>
I know that this differs from state to state, but I remember in LA we were told we did not even have to file as self-employed until we'd grossed (not net) $5000 in a year from anything we did. Would earnings from TSO/SL or anywhere else not fall under the same thing.....if not a high amount like $5k then a lower amount that one could make before getting into deep trouble with the IRS?
[/ QUOTE ]
I'm no expert on the subject, but I'd imagine you are thinking along the right lines. Someone who is making a few dollars here and a few dollars there won't have to worry about filing this as income, and I would HOPE that anybody making thousands of dollars off TSO would have enough common sense to look into it.
[/ QUOTE ]
I remember a post said one of the simolean sellers made $100,000 a yr during the first few years of TSO. However I don't remember which one. Not sure if that was true though.