Will I need an EIN of this becomes an actual business? Does WA provide me documentation at the end of the year to file taxes or do I need to keep track of my own potential inco
Will I need an EIN of this becomes an actual business? Does WA provide me documentation at the end of the year to file taxes or do I need to keep track of my own potential inco
A business ID is a TIN, and you can use your social security number if you haven't applied for a business license. You can write off business expenses, but you really would be best to check with your accountant who can give you the best advice.
Ok, so during tax season, after I have made a small income from using WA, I would basically have to show my accountant the income I made from here?
I would talk to your accountant now, for guidance as to how much of what you make you should be putting away for taxes. I'm not an expert so I'd rather be safe than sorry.
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A business ID is a TIN, and you can use your social security number if you haven't applied for a business license. You can write off business expenses, but you really would be best to check with your accountant who can give you the best advice.
Ok, so during tax season, after I have made a small income from using WA, I would basically have to show my accountant the income I made from here?
I would talk to your accountant now, for guidance as to how much of what you make you should be putting away for taxes. I'm not an expert so I'd rather be safe than sorry.
Awesome. Thanks for the great suggestions