[aclug-L] Re: Freelance Technical Support

[Chris Owen <owenc@xxxxxxxxxx>]

On Mon, 28 Jul 2003, Jonathan Hall wrote:

> > 2. Keep meticulous records of everything. (Contact info, Reciepts,
> > Credits). Remember, once you make over $2000/yr doing this in theory you
> > are supposed to report it on your taxes.
>
> Actually I believe that figure is $400/year.

Actually it is if your income exceeds your expenses by $400 and your total
expenses are less than $2,400 I think.  I would recommend filing a
Schedule C no matter what though.  Better to have it on file than not at
all even if your profit is less than $400.

Frankly I think everyone should file a schedule C if you can find any
income at all to put into the schedule C.  Any income that is going to be
reported anyway can have expenses applied against it if you file a
schedule C.  Straight income can't.

> > 3. As above, make the trade for services with sr. ladys. If you fix her
> > email in exchange for a couple of  pies or cookies or whatever, you have
> to
> > remember that they love to chat with thier friends and when they mention
> > you fixed thier stuff you've just gotten another referral. I'd say roughly
> > %20 of my business is with retired people and they are solid, repeat
> > business. Don't always do it for free, just have to make a judgement call
> > on when to do it.

Of course technically the IRS wants you to declare the value of those pies
as well ;-]

Chris

--
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Chris Owen                ~ Garden City (620) 275-1900 ~  Lottery (noun):
President                 ~ Wichita     (316) 858-3000 ~    A stupidity tax
Hubris Communications Inc ~       www.hubris.net       ~
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