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  • Lowkey Legal Side Hustle Tax Ideas

    updated 12 months ago 0 Member · 1 Post
  • Luna

    Member
    December 8, 2021 at 5:43 pm

    USA – North Carolina So I have been enjoying D8 THC recently. For those who don’t know, it’s basically legal weed. Weed contains D9 (illegal) and that’s the main thing that causes a high in the plant. There is also a tiny bit of D8 (legal) and that’s what has been becoming big news recently. I have seen someone on a bike around my college campus selling this stuff legally along with many similar products and I think it’s super cool. I want to try doing something similar in the city where I’m from. I just so happen to have a square card reader and I want to set it up to be able to sell to my friends, using card. The idea is basically: buy online (a real licensed site) a legal weed product for $10, sell it to my friend for $15. I don’t care how profitable it is, I just want to have this little side hustle because I think it would be fun. A legal “botanicals” shop on the go, if you will. Now I’m trying to work this out legally. The customers will be good friends and the products will be extremely safe. I have a card reader to accept card payments. I think the card payments will go straight to my bank account when its all set up. How would the taxes play out? Lets say I profit $100 all things considered, should I even worry about taxes if my profits are so low? Again, I just want this to be a little lowkey business. I don’t want big guys in tuxedos knocking on my door questioning me about all the “botanicals” transactions in my account. Any advice is helpful! If I ever decide to grow the business, I will definitely sit down with a lawyer to work out the details. Thank you! – by /hq/WookieChemist – –

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