So once upon a time I was a full time musician making $20k a year or less. During that time (first 20 years in the workforce), I got some cash. It never was an extreme portion of my pay for the year (at most 10-15%), so whatever, yeah?
Last 3 years I started making more (NOT a full time musician anymore). Meanwhile I was getting some small cash: occasional tips from my job and once and a while on a gig (most stuff checks or apps these days). It was a tiny amount of money, until the last month when everything got nutso. “Maybe” now getting a couple hundred in cash a week of house calls. My patients are insisting to pay me in cash, and much more than my standard fee. I am so freaking lucky and yeah, passing it on for friends and donating.
I am mostly self employed- will make about $5k from a W2 and then estimated 45-50k from self employment not including this. So far I maxed HSA, trad IRA, and basically solo401k (rest of funds in a kickstarter and will put into 401k in December). So everything else would go in the extra 20% portion for solo401k. Any suggestions on how much to report. I’m giving my boyfriend rent/utilities in cash, but it’s only $335. My COL in general is pretty low and couple things need to be with a card.