Reporting your income?? - GoFuckYourself.com

chapecito · 03-03-2005, 11:23 AM

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?

polish_aristocrat · 03-03-2005, 11:26 AM

not sure if promoting online pharmacies is legal in the US ( ? )

getting an offshore account could be a possible solution

chapecito · 03-03-2005, 11:30 AM

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...

slapass · 03-03-2005, 11:32 AM

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.

chapecito · 03-03-2005, 11:35 AM

what do you mean get "Reamed"? rimmed? hehe lol

03-03-2005, 11:23 AM	#1
chapecito Confirmed User Join Date: Nov 2003 Location: Buenos Aires - Argentina Posts: 173	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? __________________ Signature goes here

03-03-2005, 11:26 AM	#2
polish_aristocrat Too lazy to set a custom title Join Date: Jul 2002 Posts: 40,377	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.

03-03-2005, 11:30 AM	#3
chapecito Confirmed User Join Date: Nov 2003 Location: Buenos Aires - Argentina Posts: 173	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... __________________ Signature goes here

03-03-2005, 11:35 AM	#5
chapecito Confirmed User Join Date: Nov 2003 Location: Buenos Aires - Argentina Posts: 173	what do you mean get "Reamed"? rimmed? hehe lol __________________ Signature goes here

03-03-2005, 11:32 AM	#4
slapass Too lazy to set a custom title Join Date: Nov 2002 Location: Earth Posts: 14,622	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.