If any of you work outside the B&B say part time for some pocket change, how does this affect your taxes, etc?
If I were to take on a part time job (say from my PC here 15 hours per week on avg) what advice could you give to keep me on the straight and narrow and actually benefit and not toss the extra income away in more tax?
Worrying about going up a tax bracket is my only real concern, but it may be unfounded at this time.
Background, we are not a CORP, we are a sole ppty, we have one innkeeper working outside the inn already and paying reg payroll taxes ss etc, and I am the main innkeeper here who does not receive a paycheck or salary.
Any suggestions or input appreciated!
If I were to take on a part time job (say from my PC here 15 hours per week on avg) what advice could you give to keep me on the straight and narrow and actually benefit and not toss the extra income away in more tax?
Worrying about going up a tax bracket is my only real concern, but it may be unfounded at this time.
Background, we are not a CORP, we are a sole ppty, we have one innkeeper working outside the inn already and paying reg payroll taxes ss etc, and I am the main innkeeper here who does not receive a paycheck or salary.
Any suggestions or input appreciated!