Tax reqs for sole proprietors?

[Mixin' Minnie]

I just started a small business a bit prior to January, Merry Mixers. Take a look at www.MerryMixersDC.com ...Shameless plug, I know, but anyway. Do I need to, or should I attempt to include this on my taxes? I only made a little over $150 of which I was already in the hole, so I really didn't profit anything. I need some quick answers. Would it be beneficial to even mention this to a tax preparer?

[thinkcomp]

Hi,

The obivous answer to this question is yes, you should report this income on your taxes even if it's just a little bit. It shouldn't be too hard as a sole proprietor. I'm not sure about this but I think you file a Schedule C with your 1040.

If you need free software to help run your business and prepare you for more complicated taxes in the future, check out our program, Exponent Free:

http://www.thinkcomputer.com

It lets you keep track of customers, vendors, orders, invoices, etc. All very important when you're running a business.

If you have any questions, let me know.

Good luck!

Aaron