

HN Postmortem: Hacker Gets Sent a Tax Bill by Association with Google on Xmas - camz
http://cameronkeng.com/category/case-study/

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ms4720
find a really good accountant and talk to them. If you are treated as a
business then there are these things called deductions. Taxes are assessed on
profit not revenue. It sounds like the irs is assuming that all revenue is
profit, get someone to file forms otherwise. They may end up owing you money.

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camz
He amended his returns to take into consideration the business deductions and
received a refund as a result of the re-filed returns. Although, I didn't help
him file the returns I walked him through the process because he'd be required
to continue to file his future tax returns under the business classification.

Finding an accountant is often expensive and considering his income from the
website, it was significant enough to justify the additional cost of hiring a
professional.

