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Financial Planning / Tax Strategies
|Subject: Schedule C question!!!!!!!||Date: 11/2/2000 1:24 PM|
|Author: Camilo||Number: 41428 of 121795|
I have a regular job and on the side I edited a few chapters in a book.
Question 1) That "on the side income" is reported as self employed income on schedule C, correct?
Question 2) Can I buy a computer and a PDA and deduct them right off the top of the self employed income?
Example: I made $6,000 doing the editing. I buy a $2,000 computer and a $500 PDA. Does that mean I only pay taxes on $3,500 worth of self employed income come April?
Thanks so much!!!!
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