Quote:
Originally Posted by bob jenkins
Plus, 1/2 of that SE tax is a deduction itself -- whether or not you itemize.
And, the $400 limit Rich mentions is *total* SE income -- not per payer.
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It's hard for some to believe, but once all proper deductions are removed, it's pretty hard to make a lot of money doing this. I do pay SE taxes yearly, but the number isn't going to make anyone gasp.
Having lost a fair amount of weight this season, I had to buy all new baseball clothes and will have to buy all new basketball and football clothes. All deductible, and it's possible that for the first time EVER, I'll lose money this season.