Llorente Law P.C.

Happy Thanksgiving from my family to yours!

📣 NEW LOCATION!! NEW LOCATION!! 📣
We moved to FRIENDSWOOD!!
830 S. Friendswood Dr.

Summer Income Tax Reminder - Did You Know? (1/2)

Students and other people who earn summer income, including gig economy and other self-employment income, should prepare now for potential federal tax obligations.

They may normally have taxes withheld from their paychecks by their employer after filling out a Form W-4. However, if the job is regarded as self-employment, like baby-sitting or lawn care can be, they should keep good records of all expenses to help maximize potential deductions.

In the case of lawn care, potential deductible expenses may include business cards, fliers, fuel, equipment rentals, chemicals, work mileage, etc.

In addition, minors and young adults with self-employment earnings (including gig economy income) of at least $400 must file a federal tax return and may owe self-employment tax in addition to federal income tax. A tax professional can help advise on potential deductible expenses and required tax filings.

If you are in the Dickinson area. You need to check out this place Fish Place Dickinson. Delicious food and great customer service 👍🏼