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Do any of you have a knife sharpening service that you run for a hobby or for some extra money? Do would pay taxes on your income if it was really small?
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knife sharpening service questions
- Thread starter knifeman1995
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Tax laws are pretty clear regarding what lvel of income needs to be reported. I am not sure that many people would admit publicly to breaking a tax law.
Over the years I have sharpened professionally and semi-professionally. I was always able to offset 100% of my profits with advertising/overhead/expenses. I would suspect that if the "income" was small, there was no "profit" for the hypothetical person in your question
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