Today TaxMama hears from Suzanne in Brooklyn, NY tells us “I am 21 and had a job shampooing, off the books a couple of years ago. I was never paid with checks, receipts or paystubs. I received $5,000 in cash in2003. But IRS’ records indicate my previous employer said I made $21,000. The IRS insists […]
Today TaxMama helps Peggy from Clarence Center, NY who says. “I am in the process of opening a consignment shop. Do I need to pay taxes on the total amount of sales or just my revenue?
Today Connie from New York asks, What does “Pass Through Tax” mean? Since TaxMama has never heard that expression, she will explain “Pass-Through Income (or Loss)” or “Pass-Through Entity”.