Lexington, KY asked in Business Law and Tax Law for Kentucky

Q: My son had side business paid no taxes. Now figured out he should what does he need to do now.

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1 Lawyer Answer

A: You should find a Tax Controversy attorney to handle the matter. There are a lot of different ramifications that depend on the exact factual scenario.

For example, a "side business" that involves occasionally making trinkets and selling them on Etsy is very different from a "side business" that makes a profit like a "real" business. The amount of money as well as the length of operation can also make a difference.

Again you would best be served by seeking a tax professional to go over the matter with you.

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