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Author Topic: Small 50 pot business question  (Read 4269 times)
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Ryanthecrabber
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« on: March 14, 2024, 12:19:26 PM »

Should I do an llc or just cash only first year for business
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Mr. Breeze
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« Reply #1 on: March 14, 2024, 04:05:39 PM »

Huh hanged help behead wall
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Blue Crab Industry Advisory Committee
Mr. Ray III
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« Reply #2 on: March 14, 2024, 09:06:11 PM »

Should I do an llc or just cash only first year for business

Hope you're going to report all the cash, especially since  the IRS monitors this site.
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Wallco99
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« Reply #3 on: March 15, 2024, 07:25:04 AM »

Huh hanged help behead wall

I opt for your third picture for him. Even though I know he's just a kid in his mom's basement that you guys keep responding to.
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Crabslayer
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Chesapeake Bay Crab Potter soon to be Java Sea




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« Reply #4 on: March 19, 2024, 08:27:13 AM »

Since you probably won't make enough anyway here's the filing requirements.

Tax year 2023 filing thresholds by filing status
Filing status   Age at the end of 2023   A person must file a return if their gross income was at least:
Single   Under 65   $13,850
Single   65 or older   $15,700
Head of household   Under 65   $20,800
Head of household   65 or older   $22,650
Married filing jointly   Under 65 (both spouses)   $27,700
Married filing jointly   65 or older (one spouse)   $29,200
Married filing jointly   65 or older (both spouses)   $30,700
Married filing separately   Any age   $5
Qualifying surviving spouse   Under 65   $27,700
Qualifying surviving spouse   65 or older   $29,200
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This is how it's going to go.  After I kick your A$$ i'm going to run you through the wood chipper and put you in containers in the freezer to use in my crab pots!  The really sad part?  You let an old man kick your A$$!!!

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rdbeard
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« Reply #5 on: March 22, 2024, 08:49:55 PM »

Slayer, are you saying income from crabbing alone or total income?
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reds
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« Reply #6 on: March 23, 2024, 01:16:12 PM »

Slayer, are you saying income from crabbing alone or total income?

Total income....less 1/2 of Social Security income...
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Ryanthecrabber
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« Reply #7 on: June 02, 2024, 11:56:52 AM »

I opt for your third picture for him. Even though I know he's just a kid in his mom's basement that you guys keep responding to.
I'm late but no I have 2 houses not living in mom's basement here
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