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Reporting income being payed with cash Anonymous Sun Nov 19 23:42:20 2017 No.4458101 [Reply] [Original]

Carpenter here. I get payed in cash and I would really like to start reporting and paying taxes on my income.

Could anyone suggest the best method of doing so? I would like to find a very easy and comprehensive service that I can just report and deposit the money and have them take care of everything else.

I found the self-employment package from Intuit, does anyone have any experience with this? Is it automated enough that it is mostly set and forget when it comes to keeping track, reporting and filing of taxes?

Thank you in advance for any help.

>>	Anonymous Sun Nov 19 23:59:11 2017 No.4458320 File: 93 KB, 917x494, Tasse anno 2016.png [View same] [iqdb] [saucenao] [google] >>4458101 If you live in Europe then don't. I live in Italy and my taxes are almost 50%

>>	Anonymous Mon Nov 20 00:00:53 2017 No.4458336 >>4458101 >paying taxes cuck

>>	Anonymous Mon Nov 20 00:02:51 2017 No.4458357 You're probably going to miss some deductions that you could be taking if you do things yourself so it depends on what your income is like. I'd probably get a CPA to prepare them if you're making $40k or more a year.

>>	Anonymous Mon Nov 20 00:02:59 2017 No.4458360 >>4458320 >If you live in Europe Sorry, should have mentioned I live in the Boston area.

Anonymous Mon Nov 20 00:06:37 2017 No.4458400

Tile anon here.

You should report about 60% of your income. Pocket the rest.

If it's cash just store it in your home till it's time to spend it. If it's a check then put it in the bank. To report cash then deposit the cash in the bank.

Then at tax time just declare what showed up in your bank account.

Don't push it too far...

>>	Anonymous Mon Nov 20 00:07:58 2017 No.4458412 Oh and just use turbotax small business option. Can be done online, very simple. ALWAYS purchases Assist and Defend. You want their help if you get audited.

Anonymous Mon Nov 20 00:08:37 2017 No.4458418
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>>4458336

In Europe its fine, but in US if you haven't been paying Social Security, you'll get fucked if you get 65 and too old to work. Better hope you have 10 children to work as slaves in your basement. I know someone who had this happen too. Luckily they died of cancer.

Also. Don't fuck with the IRS or with cops when you got larges amounts cash laying around. They will just take it from you and say it was drug money and make you fight in court to get it back as they don't got to prove nothing unless you can afford a lawyer (which you can't since they took all your money).

>>	Anonymous Mon Nov 20 00:17:48 2017 No.4458536 >>4458418 Yeah, I've read a lot of scary things about the IRS on this board. Thankfully I'm not in the US.

>>	Anonymous Mon Nov 20 00:19:51 2017 No.4458572 >>4458320 >FREE HEALTHCARE XD >XD They know it's a joke too m8

>>	Anonymous Mon Nov 20 00:23:10 2017 No.4458613 >>4458572 fuck off 10 year old, enjoy paying $100,000 for a cut off finger.

Anonymous Mon Nov 20 00:27:08 2017 No.4458666

>>4458412
>small business option
>Assist and Defend

Thanks, I'll be taking a look at these.

For anyone wondering why I want to pay taxes, they are a necessary evil if you want to be even remotely successful and stable in life. I would argue it is a basic requirement if
>you want to own a home
>you want to purchase any titled/insured vehicle over $10,000
>invest money
>you want to get money from SS when you are to old to work
>you want to finance anything
>you want to not live in fear of the government coming in at any time and taking everything from you at gun point

>>	Anonymous Mon Nov 20 00:41:54 2017 No.4458894 >>4458101 Just get quickbooks online and find a cpa you can trust.

>>	Anonymous Mon Nov 20 00:50:24 2017 No.4459014 >>4458613 Enjoy paying for Tyrone's drug prescriptions so he can sell them to fuck your daughter.

Anonymous Mon Nov 20 00:51:59 2017 No.4459040

>>4458101
Carpenter here as well. I do my taxes online at extaxreturn.com or some place like that. It's easy. First thing you have to do is add up your total income. Then do deductions. If you will claim your income as a subcontractor, then you can count mileage, and tools which make a big difference. it's easy to just use one of those online calculators. Also if you are straddling tax brackets, buy yourself some new tools this year so you can reside in a lower tax bracket!

>>	Anonymous Mon Nov 20 00:52:55 2017 No.4459052 >>4458101 >I would really like to start reporting and paying taxes on my income. nickyoungwhat.jpg

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