Into the breach. I just rambled on my ramble this morning.
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I’m curious… if you did “retire”, or at least start collecting your social security benefits, would you still have to pay the self-employment tax that we writers have to pay?
I don’t know. Maybe not if I claimed it as “hobby” instead of “profession”
I’d need to check with a tax lawyer, probably.
*DEFINITELY* check with a tax lawyer or professional tax preparer. My *quick* thought, based on a couple of years as a part time H&R block preparer, is that as much as you make on the books, you cannot claim them as a hobby. This is, as always, just a start – even if it’s straight off of the IRS website, you *cannot* consider it canonical. https://www.irs.gov/help-resources/tools-faqs/faqs-for-individuals/frequently-asked-tax-questions-answers/small-business-self-employed-other-business/income-expenses/income-expenses
Yeah. They’re not going to believe I have a hobby that pays that well. I’ve set the die and will just carry forward with it. 🙂