AXS TV is a TV broadcaster based in Dallas, TX. Itâs an entertainment channel that airs a unique mix of live musical performances, comedy, movies and mixed martial arts. You can watch the channel online via the AXS TV live stream and its collection of videos, updated regularly. See our AXS TV review below, done with an emphasis on its streaming. Name: AXS TV. Location: Dallas, Texas, United States.
They think of it as their wages and therefore a business expense just as an employee's wage is an expense of the business and included in the Profit and Loss A/C. The difference is that an employees wages are taxed through the PAYE system whereas the sole traderâs drawings are not.
Report the tax on Form 2290. For additional information, see the instructions for Form 2290. Form 730 - If you are in the business of accepting wagers or conducting a wagering pool or lottery, you may be liable for the federal excise tax on wagering. Use Form 730, to figure the tax on the wagers you receive.