Why you still owe taxes on small business income

Name: Why you still owe taxes on small business income
Duration: 59 s
Description: Even if business income is under the standard deduction, you still owe self-employment tax on it.

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Think your side hustle's $12,000 is tax-free because it's under the standard deduction? TJ explains why that logic doesn't work — business income gets taxed differently, and the IRS will come looking for what you owe even if you skip filing.

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