Hello all ,
(New here, just on break right now)
Here's a tip that MIGHT help some others.
I'm married with two children, wife doesn't work.
My main income this year has been scrap metal.
I have NO tax liability up to about $28,000 income.
...SO I've been saving all my scrap rec'ts to report as income soon on taxes.
Due to "earned income credit" (which is up to $5000 back) , I should be pretty close to that at this point
Even if it's over the amount, I have mileage from my work truck (only used for work)
and gas expense too.
I asked the main scrap-yard I deal with if it would "mess them up" since over $600 pay out to anyone is supposed to be accompanied by a "1099" but he said, "go ahead, report it, but you'll OWE tax"...
NOPE, He just doesn't get it IMO,
Up to something like $28,000 I have NO tax is the thing,
and the more reported ,the MORE "earned income credit"...
Well somebody correct me if I'm wrong and thanks in advance for advice.
I did a tax course for Liberty Tax last year but didn't get hired (many more than usual showed up ...got my PTIN # tax-preparer with IRS though)...think I'm correct on this...
wife wants a car...I want an isuzu NPR deisel four speed