1. Headline
  1. Headline
By John W. Schoen Senior Producer
msnbc.com

Q: Hello. I'd like to create an at home business for the after-hours from my normal job. A simple computer support service, which I go to the customers home to perform a large variety of tasks. Two questions which I can't find an answer to:

  1. Stories from
    1. Matt Bomer Reveals He's Been Married Since 2011
    2. Sarah Gore Explains How She Chose Her Offbeat Wedding Site
    3. Prince George Receives His Own Skateboard in Australia
    4. NYPD's Twitter Promotion Backfires Dramatically
    5. Prep School Grads Accused of Running Drug Ring on Philadelphia's Main Line

1. Do I need to "declare" myself a business with the state if I'm working from my home, or do I just start doing it?

2. What about business related expenses? Can I claim those for such a business?— Eric M., Milwaukee, Wisc.

A: You don't need to file papers with the state, though if you hire others and need to withhold payroll taxes, you should get a tax ID number for the IRS. Otherwise, your Social Security number is all you need.

The only thing the IRS cares about is that you declare your full earnings and that you deduct only legitimate business expenses. The simplest way to do this is to file a Schedule C with your personal income tax return. Here are the interactions, including guidelines on what you can write off as expenses.)

And, while I've got you, is there any way to rig my son's computer so he can only play an hour of PC games a day?

© 2013 msnbc.com Reprints

Discuss:

Discussion comments

,

Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

More on TODAY.com

  1. Pool / Getty Images

    Prince William, Duchess Kate try their hand at the DJ decks

    4/23/2014 4:30:48 PM +00:00 2014-04-23T16:30:48
  1. 9 foods to 'spring clean' your diet 

    Want to wring out your system as part of the annual spring cleaning? Skip the weird (and often dangerous) detox diets or cleanses.

    4/23/2014 11:10:55 AM +00:00 2014-04-23T11:10:55
  1. Courtesy of Savannah Guthrie

    Savannah’s honeymoon dispatch: Letting it hang out on the best vacation ever

    4/23/2014 10:56:55 AM +00:00 2014-04-23T10:56:55
  1. Lupita Nyong’o is People magazine’s Most Beautiful person

    The Oscar winner with the perfect smile and the style to match beams from a cover that promises "her inspiring story.

    4/23/2014 11:54:41 AM +00:00 2014-04-23T11:54:41
  2. video Actress tells Savannah: Oscar win has opened doors

    video After a tremendous year for the actress, including winning an Oscar for her breakout role in “12 years a Slave,” and now being selected as People magazine’s Most Beautiful person, Lupita Nyong’o reflects on her rising fame in an exclusive interview with TODAY’s Savannah Guthrie.

    4/23/2014 12:35:32 PM +00:00 2014-04-23T12:35:32
  3. slideshow Her flawless looks: See Lupita’s colorful wardrobe

    slideshow Bright yellow, sky blue, rich red, shimmering gold — there's not a color that the fashionably adventurous Oscar-winning actress hasn't conquered.

    4/23/2014 1:40:41 PM +00:00 2014-04-23T13:40:41
  4. Reuters; AP