The question was about TAXES ...and home based Business..?

lipread51 · #1 (**permalink**) 04-07-2007, 01:45 PM

bostonianinmo · #2 (**permalink**) 04-07-2007, 02:40 PM

And I answered it that way. What are you getting your knickers in a twist for?

firemedic311 · #3 (**permalink**) 04-07-2007, 03:33 PM

i don't see the question????well it depends what state you are in. i'm in california, and my home business tax is under self employed and is 12.5%, but since i buy and sell 2-3 houses per month, i take most into my LLC so i pay per schedule c of california corporations. but i put 1 every few months or quarter into a trust thats attached to my roth ira which means i never pay taxes, no capital gains nada..... ok tangent sorry!! lolif your home business is your only source of income then i believe u can file self employed. or i'm assuming that if u have any other employees (spouse, offspring, neighbor, friend) that u will incorporate soon. even limited partnerships will give u many other options as far as shelters vs. personally taking all the income.u may already know this.......