Quote:
Originally posted by boneprone
Here's what I do.
Report just about everthing.
1. 1099's
2. CC Bill Affialate checks. (i wish they would give some kind of 1099 or some kind of year end to date total of revenue sent. Its a pain in the ass to add it all up and save the stubs from every week)
3. Bank Wires
Sure some small checks here and there that are under 200.00 slip through but its really no biggie. Try and keep the check stubs on everything . If not now be sure to do it for the up coming year.
The key is writing things off and saving recipts.
If you want to cut corners do it with write offs, not with money you are hiding from the IRS.. Thats a big fuck up if you get caught. And its hard to sleep at night.
Income Tax Fraud and not reporting funds can seriously fuck you up and even put you in the slammer. Especially if you make good money..
Fear the IRS. They arent webmasters or stupid surfers you can yank around. They are the next thing to God in terms of things you should fear in life.
If you have equity, that is a house, a bank account, a car and other items of value you cherish and have a lot of money and heart in i suggest you report everything. If not the IRS can take it all away. Cover your ass.
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Very good post, Thanks a lot!