Knew a guy who sold shrooms to people, he’d give you an invoice for em.
Not for the shrooms, fuck no, it was all for computer repair and building and consulting and yadda yadda. Sold shrooms with fake PC invoices for a few years and eventually managed to snag a job doing something in IT thanks to the 3 years of running a PC home business
Still sells shrooms, too, the lovely bastard. Dunno if he gives invoices anymore though
Income from illegal activities, such as money from dealing illegal drugs, must be included in your income on Schedule 1 (Form 1040), line 8z, or on Schedule C (Form 1040) if from your self-employment activity.
The point here is to make it explicitly clear that if you’re making money off illegal activity, you can and will be charged with tax evasion when caught. The government will still take action if you tell on yourself, even for tax purposes 👍
Only for their legit job I hope. That just sounds like a bad idea to be reporting your illegal activities and hoping the government doesn’t decide to use it against you later. Why take the risk?
I’ve met drug dealers who pay their taxes. The IRS doesn’t really give a shit if what you’re doing is illegal, so long as they get paid.
Knew a guy who sold shrooms to people, he’d give you an invoice for em.
Not for the shrooms, fuck no, it was all for computer repair and building and consulting and yadda yadda. Sold shrooms with fake PC invoices for a few years and eventually managed to snag a job doing something in IT thanks to the 3 years of running a PC home business
Still sells shrooms, too, the lovely bastard. Dunno if he gives invoices anymore though
Does he accept an HSA card for the… uh… computer repair?
This is true see IRS publication 525.
Illegal activities.
Income from illegal activities, such as money from dealing illegal drugs, must be included in your income on Schedule 1 (Form 1040), line 8z, or on Schedule C (Form 1040) if from your self-employment activity.
Bribes are also considered taxable income.
The point here is to make it explicitly clear that if you’re making money off illegal activity, you can and will be charged with tax evasion when caught. The government will still take action if you tell on yourself, even for tax purposes 👍
Even The Joker pays his taxes. He explicitly said, “I’m crazy enough to
fighttake on Batman, but the IRS? No Thank You.”https://m.youtube.com/watch?v=G56VgsLfKY4
only break one law at a time…
Only for their legit job I hope. That just sounds like a bad idea to be reporting your illegal activities and hoping the government doesn’t decide to use it against you later. Why take the risk?