|
Hmm....I'm a student and it could potentially help...but I don't see anything specifically related to students by following that link. It's just general 'do you have to pay tax' questions.
What about it might help students out? Anything in specific?
If you own a website and are making money from it, does that count as self-employment? If so, then taxes become an issue because it's a lot easier to go over $400 a year than it is to go over the $5,150 standard deductible.
I know very little about taxes, but I received a complaint from the IRS this past year asking why I didn't file certain income (about $650 from a commission program) as self-employment. I had filed it as income, fell under my standard deductible, was expecting a refund, and ended up having to pay 15.3% of that $650 when it was written down for self-employment.
So with a website, is it considered self-employment? Or income? Does it make a difference if you are a student?
I'm still a student and don't quite want to start paying taxes regularly...lol. If there is a way to avoid it (legally, as I fear I'd get caught otherwise), then I certainly will. Writing this internet stuff off for income tax would help a lot, but having to write it all down as self-employment would suck.
|
