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Having Trouble Identifying Info For Tax Returns

OvergrowTheWorld

By OvergrowTheWorld
in Caregiver Issues

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restlesslegs Advanced Member

restlesslegs

Posted
Posted

hobby farming maybe?

 

 

 

cash method accounting. under a DBA would likely have some use. Heard a few were filing as a HobbyFarm DBA structure, though I have no proof, link, or other info.

Oh bother are we suppose to do this? I don't really make any money and this might mess with my SS. Does everyone do this?

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ilynnboy Advanced Member

ilynnboy

Posted
Posted

no, only some have been trying Restless....

This is a horrible effing idea!!!

Hey vederal gubmint I grow dope for a living, ha ha lol

Freaking ridiculous idea if I ever heard one !!!

Doesn't anyone remember how they got Capone ?

Taxes...

Mmj is not taxable on the fed or state level.

Cannot claim as income or production costs for tax deductions.

Most people want to be on the level, but this is ridiculous.

If you want to, If you are dead serious wait 7 years and file an amended return stating the tax info for MMJ.

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michaelscott Advanced Member

michaelscott

Posted
Posted

This is a horrible effing idea!!!

Hey vederal gubmint I grow dope for a living, ha ha lol

Freaking ridiculous idea if I ever heard one !!!

Doesn't anyone remember how they got Capone ?

Taxes...

Mmj is not taxable on the fed or state level.

Cannot claim as income or production costs for tax deductions.

Most people want to be on the level, but this is ridiculous.

 

I think they got capone for tax EVASION,for not claiming illegal income,,irs wants to tax any income, including what they consider illegal,,

the tax code does say illegal income is taxable income

 

I am not saying you should claim anything or not just saying

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