IRS question
thought I would post it here.
What I would like to know is this. First a little bit of background since my personal situation is probably different than most on here. I am currently technically on disability(and trying to get the ball rolling to the point where I am no longer eventually dependent on collecting SSD). Based on a conversation I had with someone over the phone last week it has come to my attention that if you are self employed you need to report your earnings directly to the IRS(as well as to the SS office in my case). However, this woman only gave me half of the picture as she didn't seem to know all the details. She said you either report once a year to the IRS or quarterly depending on your business. Well, I don't at the moment have a business but plan on doing more than one thing. So what I would like to know is who reports quarterly and who doesn't? Is it different for those who have employees than those who are independent(like I will be). Also, does anyone know if you just type them a letter or tell them what you made over the phone.Thanks.
"It's going to be OK - here's a horse and two million dollars."
"If you think you're the smartest person in the room, then you're probably in the wrong room."
"If you think you're the smartest person in the room, then you're probably in the wrong room."
"It's going to be OK - here's a horse and two million dollars."
"If you think you're the smartest person in the room, then you're probably in the wrong room."