Hey guys, I have been doing quite a bit of research on this topic. I'm thinking of putting just 2 Gomes on location at a bar near me. I know the owner personally, and I'm doing this more to spread the pinball love, than make money.
My fist question is, do you file your earrings on your tax returns? My assumption is it is like tips, and non taxable income.
Do I file for an llc, get insurance? If I do then I can create a business account put the games on a company cc, and most likely get some back in my tax returns?
I buy the machines with my cash, don't file for an llc, and the bars insurance will cover me (According to him) and not file anything.
Love any help I'm in California as I know regulations are different per state