TAX TIME reminders-Private trainers, Side hustlers, Field squatters + Parents

[Guest]

Just as a folllow up.

When you’re self-employed, 'trainer' you’ll usually file a tax return and pay taxes quarterly, such as income taxes and self-employment taxes for Social Security and Medicare.

Self-employed workers typically have to pay taxes when they earn a minimum of $400. However, even with a self-employment income of less than $400, other requirements may apply. So it’s a good idea to review Forms 1040 and 1040-SR or consult a professional.

Something you wouldn’t say to their face. Again.

[Guest]

Something you wouldn’t say to their face. Again.

The IRS and all good citizens preach the law. Again tax evasion is a crime, face it until it faces you.

[Guest]

The IRS and all good citizens preach the law. Again tax evasion is a crime, face it until it faces you.

Another thing you wouldn’t say to someone’s face.

[Guest]

Something you wouldn’t say to their face. Again.

I would say it again & again every time I face them. It's the law, why should they think they are be above the law?

[Guest]

I would say it again & again every time I face them. It's the law, why should they think they are be above the law?

You wouldn’t.

[Guest]

Just ask them in January: "I need your social security number so I can file a 1099, as required by law. If you are an employee of a business rather than self-employed, give me the EIN of the business".

[Guest]

Just ask them in January: "I need your social security number so I can file a 1099, as required by law. If you are an employee of a business rather than self-employed, give me the EIN of the business".

If your kid didn’t get better with a private trainer, there are other ways to try to get your point across…for one, You can help them choose a sport or activity they’re actually good at.

[Guest]

If your kid didn’t get better with a private trainer, there are other ways to try to get your point across…for one, You can help them choose a sport or activity they’re actually good at.

Im not the sort of sucker that falls for this scam.

[Guest]

You wouldn’t.

Since this was a business transaction, we got their SSN and sent them a 1099 NEC for 2022 at then end of January, per IRS guidelines. Why the tough guy act? For just following the tax laws in this state and county. Not a good look.

[Guest]

Thanks