Tag Archives: Reporting Income

Using the Clubhouse

Today TaxMama hears from Linda in the TaxQuips Forum with this concern.  “I have a very small business teaching classes and sometimes use a local clubhouse as a venue. Some participants pay me directly; others pay the clubhouse. The clubhouse keeps 10% for the use of the clubhouse and sends me the rest of the […]

New Fact Sheet for Reporting Auction Income

[TaxMama note: think eBay.com and epage.com ] Courtesy of IRS Many people don’t realize the income they earn from auctions and consignment sales may be taxable. A new IRS Fact Sheet helps taxpayers better understand what income they are required to report and what deductions they may be entitled to take. http://www.irs.gov/newsroom/article/0,,id=174478,00.html [See Resource Box […]