I own an online publication that I operate from my home and is sponsored by advertisers.
I started it in August.
What goes into deciding whether a small business gets a tax refund?
Thanks you.
I own an online publication that I operate from my home and is sponsored by advertisers.
I started it in August.
What goes into deciding whether a small business gets a tax refund?
Thanks you.
The BUSINESS does not get a refund; you do. The business is added to your personel tax return using Schedule C. Exactly how it affects your taxes overall will depend on whether you made a net profit or not.
The rules are different if the business is a partnership or corporation, but you did not indicate that
Whatever you earn from your home income must be included in your income. This income is also subject to SE tax at 15.3%. You must file tax return if you meet the filing requirement or if yourself employed income is $400 or more.
Agreed!
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