Reporting your income??

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  • chapecito
    Confirmed User
    • Nov 2003
    • 173
    #1

    Reporting your income??

    Not for me since im not living in taxland.. (USA) but a friend of mine made some nice buck as an afiliate of an online pharmacy.. now.. he doesnt know how to report it for the 2004 tax year,What's the safeest way to report this income to the IRS? (all the money is outside the US)
    i think this would qualify as self-employment income. what's the safest way for him?
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    • polish_aristocrat
      Too lazy to set a custom title
      • Jul 2002
      • 40377
      #2
      not sure if promoting online pharmacies is legal in the US ( ? )

      getting an offshore account could be a possible solution
      I don't use ICQ anymore.

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        • chapecito
          Confirmed User
          • Nov 2003
          • 173
          #3
          everything he does it overseas.. but he has no job in the us.. so he has to report something.. he's quite a spender.. so .. whats the best thing to do...
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            • slapass
              Too lazy to set a custom title
              • Nov 2002
              • 14625
              #4
              schedule c report income and expenses roll it to the 1040 and get reamed. sort of too late to do tax planning for 2004. Sort of post planning at this point.

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                • chapecito
                  Confirmed User
                  • Nov 2003
                  • 173
                  #5
                  what do you mean get "Reamed"? rimmed? hehe lol
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