My neighbor is a pimp. He wants to pay taxes on his money because it is getting harder to hide the amounts plus it looks suspicious to the courts when he pays child support in cash only... He wants to know whether to use a 1099r to count the earnings as a dividend earnings or a 1040 and list himself as self employed??? You can understand why I cannot just ask an accountant.... I told him to go 1040 but I would ask around...
Who cares? It's not like it'll matter if he get audited. I would file the 1040 one for self employed but that's just me. It seems simplest
It has to do with visitation rights to see his kids. The judge wants him to have proof of income and tax forms do that just fine.
Ah I see that now Yeah that makes sense. I would still do the 1040 one cause that seems like the smallest amount of paper work.
Claiming it as income from dividends would be a terrible idea, because there would be no corporation that filed a corresponding W-2. Huge red flag when someone claims income that no one claims paying them. Being self-employed makes more sense.
If he's a pimp then why the fuck would you want to assist him in any way? Fucking scum deserves to be killed.
he should never claim that money! instead, he needs to think of a complication process he can turn that cash into a number on an account somewhere, so he can manage his money in his bank account. then he can just write a check.
self employed. landscaping business. get a lawnmower, rakes, barrels and a truck. that is if he doesnt live in a city.
Set up a service business, such as a musician. Where you dont actually do anything just perform a service. Then whenever you get money say you did a gig for somebody.
Launder those greenbacks. Our politicians do it all the time. Ever hear of a superpac? He can find some phony business to run it through I'm sure.
Use his pimp money to start a lawn business, figure your hoes hours and your lawn guys hours, hire a local kid. Tell him to take the profits and show it was legit income. Dirty to clean.
Because pimps prey on women (some as young as 11 or 12 years old) and force them into a miserable life of sexual slavery. In my eyes, pimps are some of the lowest motherfuckers on the planet. How does he not deserve to be killed?