Do I have to report income that is not reported to the IRS?

Do I have to report income that is not reported to the IRS? Grab your seat for the Ecomm Seller Summit Mar 12-14: bit.ly/msecomseller

[@crazyDIYguy]

Take every cent of your net profit and reinvest it into your business, buy real estate, equipment, etc. refinance the real estate and use that to live on, or use your business assets to get a loan and live on that. They can't tax debt.. also you get depreciation credits on your real estate among other things, you can write those credits off against your net profit and boom. There's more tax-free money to live on.

[@meganloxx4116]

What if the money sent to you wasn’t earned? Like a parent helping their adult children throughout the year, or a long distance lover sending you thousands of dollars to help with your bills throughout the year. Services weren’t rendered, products weren’t received. How do I report this? Is this considered taxable income? I really need help with this.

[@holdingcopsaccountable6554]

Loans.

[@Nola1176]

Nice video but you provided no information or guidance for those who underreported or misreported. What do they do? Nothing? Are there available options? Best way to move forward?

[@christinaperdue5868]

H&R Block and ATC told me the same thing ! So companies are out here giving the wrong info.

[@HomeBizTaxLady]

Christina Perdue 🤦🏾‍♀️ That would be a complete tragedy. There are some forms of income that are not taxable - like insurance proceeds (generally). That could be disability insurance for example. If you earn it, it's probably taxable.

[@CCAnne]

Home Biz Tax Lady when my grandma had surgery my mom had to have her move into her home an the aid quit for an emergency so my mom paid me for a few months until she was placed in a nursing home but my mother paid by check but did not file the way she was suppose to and she knows I am claiming it it’s only a few thousand but I’m not about to get into trouble 💔😭 she’s a teacher in NYC an is so overwhelmed she isn’t listening to me that we have to find out how she figures this out grandma went to the rehabilitation/ nursing home in December 2019 I helped from September to November but my mom is not her care giver now the state is in charge because of her income the pool of trust had to be established this is a nightmare for me because I don’t know how to report the income or how my mom can report the payment it was from my grandmothers account my mom was the temporary power of attorney took over in May 2019 as grandma had a massive heart attack an quad by pass so it was all so fast she couldn’t return home she couldn’t speak it was horrible but then finally my mom got help for her to go into 24 hour care but in the interim everyone’s forgetting they need to file the payments before me their was a aid from an agency that was paid also, so I dunno this is awful I maybe over reacting but everyone I ask how to file this no one is giving me the right answers

[@YounesLounes]

Hi there, I have a question: lets say I bought a table a year ago with the money i got from my employer for which I already paid taxes, now if I decide to sell this table with cash, do I have to report this to IRS ?

[@AAADiver]

What level of detail should be reported under "General Business Income" (Not Reported)? Fields are simply "Description" & "Amount". How granular should this be? By invoice, customer, week, month, category, etc?? Thanks!

[@icecreambeats101]

I earned less than 600 dollars. Which was 420 dollars. Do I have to report that?

[@almacortez1198]

Question for you I know someone that it’s is here illegally had a business with 2 or 3 employees make over 100,000 a year and only repots about 30,000 it’s not right I want to report this. What can I do?

[@trellcraft]

Good info

[@ebenezerclark123]

THE ONLY WAY AROUND IS TO KEEP INCOME BELOW TAX LIABILTY THRESHOLD AND FILE NO TAXES