- Joined
- Mar 31, 2014
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Last time and only time I have filed for my taxes was on 2010. I have been unemployed and a full time student since then. I still live with my parents and have been making some income here and there on side jobs.
So the above is once scenario where I have not report taxes in 4 years. I am now in a small steady side job income where I give people a ride where they need to go because they can't drive. They are mostly close friends and people I have known for a while. I use my mom van and she pays the insurance and monthly payment on the car. Is getting paid off in 3 months by the way.
I average I am making about 700 a week before expenses. Main expenses on this is food, gas, and a couple of car maintenance cost. Gas expenses including food is about 300 total in a week. So I am going home with about 400 sometimes a little more it depends how it goes.
Is mostly cash how I get paid.
I have personal expenses which is about $400 monthly I give my parents in cash for rent, cell phone bill ($55), gym membership ($30), hosting service I have for websites online ($10), domain yearly fee ($20).
This side job is only temporary, which I am saving to fund an import E-Commerce business I am currently working on. Which is why I decided to open a business account and deposit the profit I have made from my side job so far. I formed an LLC company and applied for an EIN #.
I am working on setting up an online store to sell a product I am planning in importing soon from China.
I really don't have much money saved up due to side job expenses and personal expenses. How do I go about my taxes? Should I just wait until next year meanwhile my E-commerce business takes off for now? I am not sure what to do here, the reason I am unemployed is because I am hard of hearing so finding a job is a bit difficult and very narrow for me to find a job where I fit in right.
So the above is once scenario where I have not report taxes in 4 years. I am now in a small steady side job income where I give people a ride where they need to go because they can't drive. They are mostly close friends and people I have known for a while. I use my mom van and she pays the insurance and monthly payment on the car. Is getting paid off in 3 months by the way.
I average I am making about 700 a week before expenses. Main expenses on this is food, gas, and a couple of car maintenance cost. Gas expenses including food is about 300 total in a week. So I am going home with about 400 sometimes a little more it depends how it goes.
Is mostly cash how I get paid.
I have personal expenses which is about $400 monthly I give my parents in cash for rent, cell phone bill ($55), gym membership ($30), hosting service I have for websites online ($10), domain yearly fee ($20).
This side job is only temporary, which I am saving to fund an import E-Commerce business I am currently working on. Which is why I decided to open a business account and deposit the profit I have made from my side job so far. I formed an LLC company and applied for an EIN #.
I am working on setting up an online store to sell a product I am planning in importing soon from China.
I really don't have much money saved up due to side job expenses and personal expenses. How do I go about my taxes? Should I just wait until next year meanwhile my E-commerce business takes off for now? I am not sure what to do here, the reason I am unemployed is because I am hard of hearing so finding a job is a bit difficult and very narrow for me to find a job where I fit in right.