Tax Season

[Mark T. DeNucci, Sr.]

Originally Posted by mbyron

That's not really the question. The question is: are you OK with losing your license and never officiating again after you're convicted of felony tax evasion?

I made $8K+ officiating last year, reported all of it, and reported net income of $487 (after expenses). In 2007 I had a $900 loss, which carried over, so I'm paying no tax on my 2008 income.

If I were, the tax on that couldn't be more than $200, no matter what my bracket. If I were college-aged, the tax would probably be $0-$100. Fewer than 4 game fees, big whoop.

The risk/benefit ratio for not paying is very bad, IMO.

mbyron:

How did you carry over a loss on a Schedule C from one year to the next? That is a new one to me.

MTD, Sr.