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Freelancing and Taxes

Thread title: Freelancing and Taxes
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01-15-2005, 09:47 PM
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ispec067 is offline ispec067
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  Old  Freelancing and Taxes

I am beginning to look into doing jobs for money, and being a newbie as I am into the freelance world I have a few questions about Freelancing and the IRS.

Is there an income point where when you exceed that point you must begin paying taxes? (ex. If Joe only made $325 this year doing freelance work does he have to file for taxes)

Receipts: How do you record your expenditures? What do and don't you count as expenditures? What kind of documents do you have, or collect to prove your earnings?

Do you need to register for any legal issues of any kind if you're operating by yourself out of your home?

Thank you.

01-16-2005, 04:50 AM
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Dubai is offline Dubai
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Hey,

If you have big company you can register for it and then you will be paying taxes but you can aslo make money ( as much as you want) without paying taxes . Both ways are legal! good luck on ur buisness bro.

01-16-2005, 12:41 PM
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DateinaDash is offline DateinaDash
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but you can aslo make money ( as much as you want) without paying taxes . Both ways are legal!
Care to enlighten us on this? As far as i know....you have to pay tax on money you earn (if it is more than x amount).

01-16-2005, 02:04 PM
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Yeah i think you do have to pay if your earning a reliable income, don't forget age will also play a part in this. . . . but ofcourse if you keep your money online then you will never have to pay any taxes, ever

01-16-2005, 05:09 PM
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Well I'm filtering money through paypal then into a bank account, or probably spending it straight from my paypal account if I find something good online. I'm pretty sure, no matter whether online or not any income you recieve has to be taxed if it goes beyond a certain point within the span of a year. Does anybody know what this certain point is?

01-16-2005, 07:25 PM
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I believe I may legally earn up to 5,000 Euros per year without paying taxes. I often keep my money on my Internet Account (paypal) and spend it.

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