Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Adam Clark is a freelance voiceover artist, he's paid between $2,000 to $4,000 per year. He has full-time job in accounting, where he makes $85,000

Adam Clark is a freelance voiceover artist, he's paid between $2,000 to $4,000 per year. He has full-time job in accounting, where he makes $85,000 per year. Should Adam report the income he receives as a voiceover artist? The IRS doesn't require filing miscellaneous income, such as Adam's voiceover payments, if the amount is less than $5,000. Yes, Adam should include his voiceover artist income when he files his federal tax return. Adam should include his voiceover artist income when he files his state return only

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: Warren, Reeve, Duchac

12th Edition

1133952410, 9781133952411, 978-1133952428

More Books

Students also viewed these Accounting questions

Question

Write a paper about medication error system 2016.

Answered: 1 week ago