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Old 11-01-2005, 10:16 PM
AcmeSalesRep AcmeSalesRep is offline
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Join Date: Aug 2004
Posts: 25
Default Re: yes another TAX question....

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If you file as a Pro, you can claim your Net winnings, and deduct any expenses (travel, computer expenses, rent - the % of it that you use for office space, etc...). You do get stuck paying the extra 7.5% (actually I think it ends up being around 6.8% or so) for Medicare/SS (Self Employment tax), which your employer typically pays.

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You would owe 15.3% for Medicare and Social Security. If you do not file as a pro, you do not pay any fees for either of these. If you file as a pro, you have to pay both the employee AND the employer portions...


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A session would be looked at as each time you sat down at a table (and subsequently left).

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This is an acceptable definition of a session...but it is not the only acceptable definition.


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Oh, and the burden of proof is never on the IRS, it's always on you.

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Right. This is the key item the OP cannot seem to understand.

Acme
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