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: