i was wondering what % of the money we make on the note business each quarter is taken out ..under 20%, 25% or more thanks
What is your marginal tax bracket? What business entity are you using for your note business?
i have a sole proprietorship. it is just me and no one else. i heard that i should treat it as personal income.
Report your income and expenses on Schedule C and Schedule SE. Your net business income is taxed at your ordinary income tax rate, while your self-employment income tax is 15.3%.
What is your marginal tax bracket?
What business entity are you using for your note business?
i have a sole proprietorship. it is just me and no one else. i heard that i should treat it as personal income.
Report your income and expenses on Schedule C and Schedule SE. Your net business income is taxed at your ordinary income tax rate, while your self-employment income tax is 15.3%.