Linda asked:
I started a home based photography business this year but I have not filed any paperwork, such as DBA, LLC or sole proprietor. Can I still claim income and expenses on my taxes?
Caffeinated-content.com
I started a home based photography business this year but I have not filed any paperwork, such as DBA, LLC or sole proprietor. Can I still claim income and expenses on my taxes?
Caffeinated-content.com
Yes the IRS requires you to report all income – even illegal income. They do not care if you are licensed. You will need to report it on a Schedule C as a sole-proprietor.
Comment by nyteglori — June 15, 2008 @ 6:08 am