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#1
02-24-2007, 03:04 AM
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Re: How to get \"earned income\" for Roth IRA
Are the deductions you can make when you file as a pro worth it even tho you pay the extra 15% self employment tax?
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#2
02-24-2007, 05:31 AM
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Re: How to get \"earned income\" for Roth IRA
[ QUOTE ]
[ QUOTE ] I'm filing as a poker pro for 2006, my accountant says that will give me earned income. If anyone can think of a better way I'd like to know. [/ QUOTE ] So you are going to pay the 15% self employment tax? [/ QUOTE ] Ummm doesn't the rebate offset the other 7.5% that you are paying? "Self-employment tax deduction. You can deduct half of your SE tax in figuring your adjusted gross income. This deduction only affects your income tax. It does not affect either your net earnings from self-employment or your SE tax."
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