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-   -   Tax Question for Tom Copeland (https://www.daycare.com/forum/showthread.php?t=25691)

llove530 01-19-2011 07:06 PM

Tax Question for Tom Copeland
 
Isn't there a certain amount of money you can earn and not have to report?

Thx!

lvt77 01-19-2011 07:07 PM

i believe it is $400.00

kendallina 01-19-2011 07:08 PM

Quote:

Originally Posted by lvt77 (Post 73873)
i believe it is $400.00

That's what I thought too...

TomCopeland 01-19-2011 08:35 PM

Income
 
Nope. You must report $1 as income on Schedule C. Any income must be reported. If your profit is less than $400 you don't owe any social security tax on it, but it must be reported.


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