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    midwestocean's Avatar
    midwestocean Posts: 8, Reputation: 1
    New Member
     
    #1

    Dec 30, 2007, 08:27 PM
    Small Business Tax Refund
    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.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,752, Reputation: 846
    Senior Tax Expert
     
    #2

    Dec 31, 2007, 12:06 AM
    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
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
     
    #3

    Dec 31, 2007, 01:02 AM
    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.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,752, Reputation: 846
    Senior Tax Expert
     
    #4

    Jan 1, 2008, 09:22 AM
    Agreed!

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