Comic Discussion > QUESTIONABLE CONTENT
WCDT Strips 3311 - 3315 (Sept 19th - 24th)
Gyrre:
--- Quote from: JimC on 20 Sep 2016, 13:44 ---
--- Quote from: jheartney on 20 Sep 2016, 11:18 ---Further, because it's illegal, there's no way to legally deal with taxing the resulting income,
--- End quote ---
I don't know about the US, but in the UK when I was working in the cash economy, I simply declared the income on my tax return and paid tax on it as normal. The sources of the income were pretty vaguely listed, and no doubt if the tax man had decided to do a full investigation into my affairs they'd have been seeking a lot of clarification, but fundamentally, here at least, they like to make it easy for you to pay tax, and if you're obviously not living a megabucks lifestyle why should they bother to look hard at you when there are so many better targets? Of course many people working in the cash economy don't pay tax, in the hope they won't get caught, but that's a choice.
--- End quote ---
She could just report it as self-employment on her taxes.
Tova:
--- Quote from: Sullivan on 21 Sep 2016, 01:20 ---Speaking of which, I now want pie. Jeph and all posters in this thread are complicit.
--- End quote ---
I regret nothing.
Lubricus:
--- Quote from: Tova on 21 Sep 2016, 03:39 ---
--- Quote from: Sullivan on 21 Sep 2016, 01:20 ---Speaking of which, I now want pie. Jeph and all posters in this thread are complicit.
--- End quote ---
I regret nothing.
--- End quote ---
I regret not having pie.
bhtooefr:
https://www.irs.gov/publications/p17/ch12.html#en_US_2015_publink1000172108
--- Quote ---Illegal activities. Income from illegal activities, such as money from dealing illegal drugs, must be included in your income on Form 1040, line 21, or on Schedule C or Schedule C-EZ (Form 1040) if from your self-employment activity.
--- End quote ---
One thing worth noting is that the IRS doesn't care how you got the money, just that you're paying taxes on it, and all of the legal structures are such that it's just presented as "other income", and therefore you're not incriminating yourself.
TheEvilDog:
--- Quote from: Lubricus on 21 Sep 2016, 04:02 ---
--- Quote from: Tova on 21 Sep 2016, 03:39 ---
--- Quote from: Sullivan on 21 Sep 2016, 01:20 ---Speaking of which, I now want pie. Jeph and all posters in this thread are complicit.
--- End quote ---
I regret nothing.
--- End quote ---
I regret not having pie.
--- End quote ---
I had the pie last night.
There is none left.
:evil:
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