Ever wonder what you're going to do with your tax return once the revenue starts flowing in? Scared of the tax consequences or afraid of filing incorrectly?
Well ... I'll be going over some of the basics of what you need to know and hopefully provide some insight on how to handle your new income stream.
The information I will be going over will be generic, any advice or suggestions that I provide are for general knowledge purposes and are not meant to persuade you in a capacity that is infallible. You should clarify and understand everything you read on either my blog or from another source, especially if it is not directly related to the tax authority with which you are filling legal tax documents. I will attempt to provide direct links to tax rules with tax related information that I provide.
How do I report book income?
How is Income from Writing Reported to Me?
CIRCULAR 230 NOTICE: To comply with requirements imposed by the United States Treasury Department, any information regarding any U.S. Federal tax matters contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, as advice for the purpose of (a) avoiding penalties under the Internal Revenue code or (b) promoting, marketing or recommending to another party any transaction or matter addressed herein.
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