Skip to main content
September 14, 2021
Question

Should I have claimed a craft self employed business Can I amend 2020 tax year to add profit and loss

  • September 14, 2021
  • 1 reply
  • 0 views
No text available

1 reply

September 14, 2021
A small business requires recordkeeping and payment of taxes. You must pay taxes on the income for a small business. You can earn $400 in excess of expenses without paying taxes for a small business. You can amend your 2020 return to add the income and expenses from your business.