It’s January, and I’m in the mood for taxes.
Not really, but they’re a reality of life, so I’ve been spending a fair amount of time these last few days getting my receipts, paid invoices and other tax paperwork in order so I can forward them to the accountant.
Oh, the joys of being in business for yourself.
And that brings me to the purpose of this post.
Even if your online business is just a sideline, you must report any money you earned as income on your state and federal taxes to avoid any hassles (or penalties) later.
For tips on taxes for online businesses, check out this article from Entrepreneur magazine. The article is old, but the information is still useful.
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