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leftHanded's blog

Where Do I Enter Paper Route Income on My Taxes

I get this question a lot from many carriers and I will mention the best option in this post for filing taxes for your paper route income. We will assume you did make enough during the year to be required to file a tax return.

Paper Routes and Taxes

How much tax will I have to pay for my paper route? I hear many carriers asking this question. What makes me cringe is the time I hear them ask the question ... TAX TIME!

The best time to plan your tax strategy for your paper route is NOW! Do not wait until you are filling out your taxes next year to wonder how you want to do your taxes related to your paper route. If you wait until next year, you have waited too late and are probably missing a number of items that could have helped you lower your tax bill (or tax burden).

A few tips for reducing your tax bill for your paper route:

Are Paper Routes Still Profitable?

This question has been asked of me quite a few times recently. Some grown ups looking for extra cash and some have been teenagers looking to start their own businesses and break the norm of working at the mall, working in fast food joints, and waiting until you are a certain age before you can get any of the aforementioned jobs.

Well, the answer is "it depends" ... it depends on your situation and many other factors.

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