Fema Employment
NY State Self-Employment Tax?
If there is no New York self-employment tax (only federal), do I have to declare the money I made being self employed to the state? Turbo Tax took the self-employment figure from my federal return and transfered it to the NY forms as business income. But the NY forms say I don't qualify as a business (didn't earn enough). Do I declare it as regular income instead, or do I just not declare it at all? Turbo Tax transferred the amount to NY's form for unincorporated businesses. The instructions on that form say that the following people must file that form: 1. Any individual or unincorporated entity, other than a partnership, that carries on or liquidates a trade, business, profession or occupation wholly or partly within New York City and has a total gross income from all business regardless of where carried on of more than $75,000. 2. In addition, every unincorporated business other than a partnership that has unincorporated business gross income of $75,000 or less, but has unincorporated business taxable income of more than $35,000 must file a return for each taxable year in which it carries on business in the City to any extent. I don't fall into either category, which is why I think I should declare the money (to NY, not the US) as regular (non-selfemployment) income.
Public Comments
- Let Turbo Tax do its thing. It is correct 99.99% of the time. Generally it's only wrong when the user makes a mistake in data entry. This stuff is complicated so it's easy to get confused and make such a mistake. The program does a pretty good job, though, of walking you through the forms. And yes, income is income, self employed or job wages, it all earned income.
