Klarinet Archive - Posting 000321.txt from 1999/02

From: "Chuck Trimble CPA" <trimble@-----.net>
Subj: Re: [kl] Taxes
Date: Mon, 8 Feb 1999 12:24:18 -0500

kevin, you cannot include it in wages but you can put it on the line called
other income. this is not an advantage over sched c but it will work. you
should have deductions from any self employment and they can only be
deducted from schedule c. sched se is required whether you use the 'other
income' line or schedule c for any self employment income. if you have any
questions, email me privately and i will be glad to help you.

chuck trimble cpa email: trimble@-----.net

-----Original Message-----
From: Kevin Fay (LCA) <kevinfay@-----.com>
Date: Friday, February 05, 1999 7:45 PM
Subject: RE: [kl] Taxes

>Gotta ask this one--
>
>I play for money. Group cuts me a check (or cash). I get no 1099--this
>group is a bunch of musicians, and don't file anything with anybody.
>
>Do I declare the income? Of course; I'm not an idiot. Life is way too
>short not to.
>
>Where? Schedule SE and Schedule C? Or will I go to tax hell if I just
>include the amount in the wages line? (I don't plan to take any
>music-related deductions). We're only talking a total of about $800 here
>this year--I haven't been doing much paid stuff since my daughter was born.
>
>kjf
>
>-----Original Message-----
>From: mark weinstein [mailto:cpaok@-----.net]
>Sent: Thursday, February 04, 1999 6:42 AM
>To: klarinet@-----.org
>Subject: Re: [kl] Taxes
>
>
>One more answer to Neil's tax question:
>
>YES, Schedule SE is used to calculate self-employment tax on income
reported
>on Schedule C, and elsewhere on Form 1040, which is subject to
>self-employment taxes. IRC 1402 is the bible.
>
>mw
>
>****************************************
>Mark Weinstein
>Mark Weinstein, CPA, Inc.
>6422-B North Santa Fe
>Oklahoma City, OK 73116
>Office: 405.848.4441
>Fax: 405.848.4463
>Email: cpaok@-----.net
>****************************************
>
>
>
>
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