Taxes & corporations

[Yobz]

I am still pretty recreational, made something like a couple of thousand this year (maybe 2 or so), do I have to declare and how much will it cost me?

[Moonsugar]

#1: Technically you are correct. The "self-employment" tax which everyone refers to is both employee and employer portions of the Social Security tax. And it is only on wages, and the wage base is capped on an indexed basis every year. As the original poster wrote, the way most prople limit this is through the use of dividends.

#2: This is extremely complicated and you should get this answered by a professional.