Originally Posted by Raise Capital
I agree. There are many businesses that do not legalize their operations until they move out into the commercial world (Office or retail locations). Since this is an extra income, do you claim it on your taxes?
If I'm going to CLAIM this as income I would also have to CLAIM all my expenses as well (marketing materials, $1000 worth of specialty tools, gave up our garage area for my shop-900 square feet and so on). In order to claim my expenses I would have to be a REGISTERED BUSINESS.
I'm not making thousands of dollars a week doing this. It is sorta like when you sell an old car you have...do YOU claim that as income?