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Retirement tax questions
In that case you would file as a Self-Employed Taxpayer.
That means you'll file Schedule C.
You can deduct expenses, like part of your internet costs, camera, postage.
Enter the income as you would for cash.
Enter the expenses of the items to offset the income.
You will be charged "Self-Employment Tax" which is the FICA (Social Security) tax which is withheld and paid by an employer when you are a W-2 employee.
When you're Self-Employed, you pay that through your tax return.
You may also need to make Estimated Tax Payments since no Federal Tax is withheld when you're Self-Employed
OR
Increase your withholding at your job if you are also an employee.
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March 12, 2023
7:34 PM