How to file for taxes on money made from online?

Discussion in 'Off topic' started by persononhere444, Jun 8, 2008.

  1. persononhere444 Not Active

    persononhere444
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    I currently am starting a few blogs to make money and i was wondering how do i file for taxes on the moeny i make. just so you know i make plenty of money for the government to be able to tax me.
  2. Judy Guest

    Judy
    You'd file a schedule C or C-EZ showing your income and any associated allowable expenses, and a schedule SE to calculate your self employment tax. The numbers from the bottom of the two schedules will go onto a form 1040 (not 1040EZ or 1040A) to calculate your total tax owed.

    If you have any other income to report, you'll show it on the same 1040 form.
    Judy,
  3. Jss Not Active

    Jss
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    Read about self employed income and tax filing
    http://taxipay.blogspot.com/2008/04/tax-filing-by-self-employed-sole.html
    Jss,
  4. StephenWeinstein Not Active

    StephenWeinstein
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    After the end of the tax year (assuming a January to December year, between January 1 and April 15), file a 1040 and either Schedule C or Schedule C-EZ. If the amount is at least $400, also file Schedule SE.
  5. Just Me Guest

    Just Me
    you would have to file it as a business of your own, the good thing is you can deduct your expenses the bad news is they will make you pay your complete social security and medicare (that's like 15% both)
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