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If I own a salon and collect rent for my chairs, is that considered rental income? Do I report that on Schedule E? Is it subject to self-employment taxes?
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If I own a salon and collect rent for my chairs, is that considered rental income? Do I report that on Schedule E? Is it subject to self-employment taxes?
Also, is it better to have my salon as an LLC or S-Corp? Are there any tax advantages?
Topics:
TurboTax Self Employed Online
May 17, 2020
7:54 PM
