A quick tax issue and adsense

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A quick tax issue and adsense

rfung

11:04 pm on Jul 20, 2006 (gmt 0)

Hi,

i'm about to start on a new project, and I would like to get a business license/tax ID. I understand this will allow me to create an adsense account with the tax id.

I wanted to know, generally speaking, when tax time comes, can I still file everything under one individual/sole owner, or how does it all work?

LifeinAsia

11:24 pm on Jul 20, 2006 (gmt 0)

(This advice applies to U.S. businesses/individuals.)
Generally, you will probably file a Schedule C (small business form) with your 1040. Google will report your income under the tax ID number you give them, so that income must show up on the Schedule C.

Your Schedule C profit (income minus expenses) will be subject to self-employment taxes, in addition to your regular income tax.