I agree with londongirl's suggestion of picking up an extra job, at least for a few months. If you can't pay for the LSAT, how will you pay for applications? So even if you find a quick and easy way to pay for the LSAT (e.g., by selling something), you'll still need money for law school apps. A weekend waitressing job might not be too bad, because at least you make tips, and that's tax free
Just so you know tips aren't legally tax free. I suppose you could just not report it, and hope you don't get audited. Employees in food service tend to have higher risk of audits though. If I remember correctly (can't find my IRC book) the IRS assumes that you earn at least a tip of 8-10% of the gross receipts whether your actually do or not. The IRS requires you to keep a daily log of tips received minus what is shared with other employees (form 4070). Also with more people using credit cards to pay at restaurants these days, there is more verifiable proof of tips received. The IRS uses a complex formula to determine who gets audited. Certain things set it off like too high of deductions for your income level, unusually low income, certain industries, etc. Quote from: TDPookie1 on August 29, 2004, 08:42:44 PMI agree with londongirl's suggestion of picking up an extra job, at least for a few months. If you can't pay for the LSAT, how will you pay for applications? So even if you find a quick and easy way to pay for the LSAT (e.g., by selling something), you'll still need money for law school apps. A weekend waitressing job might not be too bad, because at least you make tips, and that's tax free
Pookie,If you still have your tax records from that year (like who does) I'll almost guarantee you that you have a % of sales on your W-2 that are actually tips. You are just legally required to "report your tips" because if you receive more than 8-10% (I don't remember the IRS threshold anymore) you are technically required to report them to your employer. Lot's of restaurants resent this policy, as do servers of course, but if the outfit is legit, you are paying taxes on some tips, even if you don't report your actual tips. If you go to a 5 star restaurant where tips can exceed 25%, all that crap is handled by computers, a totally automated process, even cash tips. When I used to do taxes, I hated telling all these beautiful women the bad news. I think the law sucks, but people were making over 500 bucks a night in tips, so I understand why something had to be done. There should be a minimun amount of tips that won't be taxed to save those from the rare few who get rich on tips.
Quote from: noell.in.portland.oregon on August 30, 2004, 01:15:21 AMOoooooooooo, I got one of those! But, uh, no money... LOLWe were at a gas station this weekend, and these two black/African-American boys came over and made this little spiel (sp?) about how they're selling candy as a fundraiser for their basketball team and something about UNLV, yada yada, and we felt bad, so we bought this mini Butterfinger 10-pack for $5. I swear that thing is like $1 in stores. So maybe you can buy candy and then sell it at a huge markup? Ha ha.
Ooooooooooo, I got one of those! But, uh, no money... LOL
wow, crazy stuff...well, I ain't no 'Karyn', but here it goes:http://www.geocities.com/caribouranch/LSAT/I doubt I would get anything out of this, but it was sure funny to set that up. LOL!
Page created in 0.293 seconds with 18 queries.