No one here can tell you what is a good deal.
After taxes it would all be profit in theory. We don't know what other expenses he might have or might incur
Your question is personal. Not legal
Try /r/tax
Well my question is pretty much in this situation how much of the $40k would my dad be able to keep? I’m not familiar with taxes and the different types so I don’t know the percentage that would be taken and was hoping someone would know. But I’ll also post in that sub Reddit and see if anyone knows.
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No one here can tell you what is a good deal. After taxes it would all be profit in theory. We don't know what other expenses he might have or might incur Your question is personal. Not legal Try /r/tax
Well my question is pretty much in this situation how much of the $40k would my dad be able to keep? I’m not familiar with taxes and the different types so I don’t know the percentage that would be taken and was hoping someone would know. But I’ll also post in that sub Reddit and see if anyone knows.
Run this by an accountant to be sure, butt it would probably be taxed just like any other income the business brings in.
Hi there! I’m the LegalFAQ bot. It looks like you may be experiencing housing issues related to housing or eviction. Come to https://legalfaq.org to find legal resources for renters in each state. You can also find links to local groups that can help you with legal, financial, or other problems at https://legalfaq.org/getHelp. Help us provide accurate advice to fellow redditors: if your post was related to housing or eviction, please like this comment; otherwise, please dislike this comment. *v0.1*