Ask:
I need to figure out a way to make some money without the income being in my name. Let me explain. I'm starting back to school this year and am going with a program through TAA. They will pay my tuition, books, fees and supplies, as well as a check for living expenses. The one caveat is that I can't earn any money besides that while I'm in school. So, I'm trying to figure out a way to earn money that could be in DH's name. He has a corporation for his different businesses, so one thought was to set up something in his corporation name, but I'd be the one to work whatever it is. I can do as much work for his company as I want, without pay. So, now the question is, what can I do? Does anyone have any suggestions?
Btw, his businesses include mobile welding, tshirt printing, music promotion company, "Mohawk Weddings" and his band. All set up under the same corporation, with different dba's. (Doing business as)
TIA!!
Answer:
Hmmmm whatever you decide first make sure what you want to do is LEGAL! If you are not paying taxes on that income eventually you will get caught and it won't be pretty. I have no advice other than that: be careful!!
Answer:
Yeah, when I first read that I thought you were looking for some kind of fraud. Be sure to talk it over with dh's accountant. People don't even think about reporting income they make from eBay, but it's a business and if you get caught not reporting you'll end up paying.
Answer:
I agree that I'm not willing to offer advice on something that could be illegal, and if not illegal, certainly bordering on unethical. But that's just me.
Answer:
After I re-read my post, I realized that it sounded kind of bad. I don't want to do anything illegal at all! And we would be paying taxes on it. We do everything under DH's corporation. So, we do pay taxes on it, just through the corp. I guess, what I am trying to do is make money without having it affect my TAA. All profits would still be reported, but even if I do work for DH, I can do it without pay. I do his books, but I don't get paid. If we get paid, it's paid to him. I guess I'm having trouble expressing myself and what I'm trying to say. I do NOT want to do anything illegal, though. Heavens no!
Edited to add: I do Melaleuca, and I report every penny I make with that, even when one year it was only $40.
Answer:
I just called my TAA councelor to ask her about this. She said she would look into it, but I can apply for grants and scholarships while I am going to school to help with living expenses. I just feel bad that I am not helping more than I am with finances, right now. Maybe the better thing for me to do at the moment is concentrate more on SAVING than EARNING.