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Income Payee's Sworn Declaration of Gross Receipts Sales Form

Income Payee's Sworn Declaration of Gross Receipts Sales Form

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all right everyone's favorite topic it's what we're all here for let's talk about Revenue sales or gross receipts it's all the same thing for our purposes in this lesson so the textbook definition for sales is a term that refers to operating revenues that a company earns through its business activities such as selling Goods Services products Etc now the definition you need to know is that sales is Money Paid to you for a good a product or a service and those sales are subject to income tax and likely self-employment tax see each entity section in the foundational business information for how each entity's income is taxed because there are a few exceptions the only way to reduce your taxable Revenue is by applying deductions to those sales that reduces your overall business income which is what you're taxed on we'll talk more about how that works and what does and doesn't apply as a business expense and the cost of

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