I've scoured many, many old posts!!
I've been dancing on and off for 4 months. I've been depositing all of my earnings in a personal bank account. I'm $3,000 away from the $10,000 total deposit limit. I NEED to pay school tuition via check, and my total cash earnings/deposits will exceed 10k pretty soon!!! I intend on paying ALL taxes and fully reporting my income, and just emailed a dance-friendly CPA. But, I think I will surpass the $10k limit before I pay taxes (which would be June 15?? Or sept, one of those). What happens if you get an audit due to continuous large cash deposits before you have a chance to file taxes? How am I supposed to deposit my earnings/pay for school without being audited or having my bank account scrutinized??? I'm trying to be 100% legal, I want to sleep at night!!
THANK YOU SO VERY MUCH FOR ANY INPUT!!! xx



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