This is in regard to earlier post concerning providing bundled wood to store.
Boss man told me that I would have to be a "business" because I already work there. Evidently someone else could be simply handed a 1099 to satisfy the tax man. I dunno much about this.... :newbie:
I have looked into this a bit, just enough to scare myself a bit. I could become a "sole proprietorship". Maybe "Doing Business As". Or a LLC, that would be a "very Limited Liability..."
Or I could just simply leave it like it is, and forget about it. So far, there is very little in the way of a paper trail selling a few cords.
The fact is that if I were to do it all by the book, and pay all the taxes then a cord of wood would be "veddy, veddy expensive indeed!" Nobody would pay for it.
What to do?
-Pat
Boss man told me that I would have to be a "business" because I already work there. Evidently someone else could be simply handed a 1099 to satisfy the tax man. I dunno much about this.... :newbie:
I have looked into this a bit, just enough to scare myself a bit. I could become a "sole proprietorship". Maybe "Doing Business As". Or a LLC, that would be a "very Limited Liability..."
Or I could just simply leave it like it is, and forget about it. So far, there is very little in the way of a paper trail selling a few cords.
The fact is that if I were to do it all by the book, and pay all the taxes then a cord of wood would be "veddy, veddy expensive indeed!" Nobody would pay for it.
What to do?
-Pat