Tax Tips For Small Folks?

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Posted by ryuzaki0 on Saturday April 12, 2003 @10:07AM from the last-minute-pleading dept.

An anonymous "The tax deadline is fast approaching (here in the USofA). Like some of you, I have a small business on the side. Since I haven't figured out the 'step 2' yet (the one before 'step 3: profit!!!'), my revenues were zero for all of last year, and the expenses were just about zero too. What is the quickest and least painful way for a person in my situation to do his taxes? I don't want to spend 100s of dollars going to a paid professional, just to have him put all zeroes in the form. If you have done your taxes and are a small business (C-corp, don't ask why...), do you have any tips?" This is also your chance to offer all the heretofore unsolicited tax advice you've been bottling up all year.

7 of 345 comments (clear)

Hmm by rzbx · 2003-04-12 10:13 · Score: 3, Funny

Sell drugs. Its risky, but supposedly the profits are great. The best thing is you don't have to worry about taxes, just skip them altogether. You'll be out of luck if they decide to legalize and tax it though. Jail time, risk of getting shot, etc. are all bad things as well. Then again, stick to whatever your doing. Sorry I can't help with your taxes.

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Question everything.
1. Re:Hmm by Lionel+Hutts · 2003-04-12 10:35 · Score: 3, Funny
  
  Interestingly enough, drug dealers are the only people in the world who the U.S. tax system does not give a deduction for ordinary business expenses. (There is legislative history, though, that this is not meant to disallow the subtraction of cost of goods sold.) If you're in the murder-for-hire business, make sure you don't also deal drugs, or you run the risk the IRS will think your bullets are for defense of your drug territory and disallow your deduction for them.
  
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Tax Tips For Small Folks? by TC+(WC) · 2003-04-12 10:13 · Score: 4, Funny

Looking at the headline, my first though was "Wow, what special tax needs do midgets have?"
1. Re:Tax Tips For Small Folks? by SpaceLifeForm · 2003-04-12 10:22 · Score: 4, Funny
  
  They can only fill out the short form.
  
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Jeopardy by Future+Linux-Guru · 2003-04-12 10:14 · Score: 5, Funny

I have no revenue

The question, Alex Trebek, is:

"Who is RedHat?"
Re:Why it's easy... by villain170 · 2003-04-12 10:42 · Score: 3, Funny

government gives you money

Whoa.. what a novel concept? How come you didn't include a link where I can sign up for this "free" money ????

I don't know much about the tax system, but I do know many things in life aren't free. What's the catch here?

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Re:And I thought... by Alsee · 2003-04-12 13:50 · Score: 4, Funny

And I thought the people that sought legal advice on Slashdot were nuts...
Asking for tax advice on here is taking it to another level...

I have this little lump on my leg, under the skin. It doesn't really hurt or anything, but it feels sort of wierd. It's been there for a few months now. It's bigger than a pea, maybe the size of 2 or 3 peas. It isn't really hard, but it's not really soft either, I guess it's sort of firm-ish.

I was wondering if I should have surgery to have it removed? Is it some sort of tumor? Could it be cancer? Or is it just a harmless bump that will go away? I'd post a photo of it, but my server can't take a slashdotting.

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