tax deduction

Question

Is tutoring tax deductible?  If so, how do I get a Tax ID for Wysant?

 

v/r

Richard

Answer 1

Tutoring is a service and the money received for services rendered is taxable income ... examples of deductible expenses for services rendered include travel, office expenses, phone expenses ...  ... your social security number is your 'Tax ID' , however, if you do not have a social security number you must contact the IRS to obtain a tax identification number (referred to as a TIN)... and, if you have employees involved in your tutoring service, and you are paying wages, apply for an EIN (employer Identification number) ...