Tag Archive: sideline

Taxes and your new summer business

Written by July 10, 2013

The extra cash a summer sideline business produces will no doubt come in handy, but it could affect your tax return. Here’s what you need to know about reporting requirements for common sources of secondary income. * One-time sales. Generally speaking, all income is taxable. For instance, say you’re an amateur horologist and you sell your personal collection of vintage...

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