- Jun 8, 2001
- 9,574
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For some reason I am drawing a total blank on this one:
I have income from both a normal W2 job as well as some from a small business organized as a sole proprietership. I have never had the SP show a profit (do I even need to?). This year is the first that it probably will. Is this treated the same way as income from my W2 job?
Meaning: If I bring in say $10k from the W2 where taxes were withheld (I get a refund) and 1k from the sp, will it be taxed at the normal say 15% with the taxes pulled from my W2 job refund?
There's a tax thread.
moderator allisolm
I have income from both a normal W2 job as well as some from a small business organized as a sole proprietership. I have never had the SP show a profit (do I even need to?). This year is the first that it probably will. Is this treated the same way as income from my W2 job?
Meaning: If I bring in say $10k from the W2 where taxes were withheld (I get a refund) and 1k from the sp, will it be taxed at the normal say 15% with the taxes pulled from my W2 job refund?
There's a tax thread.
moderator allisolm
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