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If you make enuf income to survive, then you would be paying taxes,It's independent contracting. I pay zero income taxes and I get to hand in most of my receipts at the end of the year.
And then I'll be applying for disabilities once my parents move here and I can afford to take the cut in pay. My knees will be glad, and I'll get to write of my student loan debt.
Wu's son will be a rich engine doctor. He'll support us.
The IRS has also been known to look at businesses such as Lyft and wonder if contractors were reporting all their income based on the business records. It could happen.If you make enuf income to survive, then you would be paying taxes,
even if it's just Schedule C (self-employment tax).
I wouldn't wait til the end of the year. Contractors are expected to pay
estimated quarterly taxes. If you don't, then penalties await you.
However, If you make some income which your forget (by accident)
to record, then you'd likely forget to pay tax on it, & the IRS likely
wouldn't notice. It's been known to happen.
As I've said, the Ferengi make great but horrible business role models. Horrible as far as ethics are concerned, that is.If you make enuf income to survive, then you would be paying taxes,
even if it's just Schedule C (self-employment tax).
I wouldn't wait til the end of the year. Contractors are expected to pay
estimated quarterly taxes. If you don't, then penalties await you.
However, If you make some income which your forget (by accident)
to record, then you'd likely forget to pay tax on it, & the IRS likely
wouldn't notice. It's been known to happen.
But some of the rules:As I've said, the Ferengi make great but horrible business role models. Horrible as far as ethics are concerned, that is.