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A lot of people freelance, landlord or do other activities that are classified as "businesses." So it, actually does personally affect a lot of folks who aren't
by jdavis703 5y ago
A lot of people freelance, landlord or do other activities that are classified as "businesses." So it, actually does personally affect a lot of folks who aren't even full blown businesses.
- vorpalhex 5y agoFreelance and being a landlord is in fact a business and you do in fact need to pay business taxes as appropriate. Again, this does not change personal taxes.
- asguy 5y agoPlease explain what a “business tax” is in the US. Personal taxes are definitely affected if you happen to do business as a sole proprietor. They’re even affected if you happen to have an LLC with passthrough taxation.
- deleted 5y ago[deleted]
- vorpalhex 5y agoIf you form an llc, and if you pay passthrough taxes instead then you are perfectly well aware that you are a business and that passthrough taxes are saving you paperwork. If not, your CPA can explain this to you.
- BHSPitMonkey 5y agoThis only makes your tax situation _more_ complex if you're intentionally engaging in tax evasion. If that's your use case, then I guess you have a valid complaint!
- jdavis703 5y agoIt’s an additional form that has to be filed away, and then typed in once all the other tax forms arrive. I have no problem reporting business income. In fact, if the IRS just sent me a (contestable) bill I wouldn’t even complain about the extra paperwork.