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Discussion Boards => FusionCash => Topic started by: penguinito on October 15, 2012, 09:47:52 pm

Title: do you file taxes for getting paid on surveys like this?
Post by: penguinito on October 15, 2012, 09:47:52 pm: im new here and i see alot of the payments and there are deductions so im guessing they're taxing it so is it tax deductions or something else.
Title: Re: do you file taxes for getting paid on surveys like this?
Post by: falcon9 on October 15, 2012, 10:03:42 pm: Quote from: penguinito on October 15, 2012, 09:47:52 pm
im new here and i see alot of the payments and there are deductions so im guessing they're taxing it so is it tax deductions or something else.

No, those aren't deductions related to taxes; they're revoked, (by the providers, not FC), payments on completed offers. Generally, taxes are paid on such misc. income of over $600, (tax payers will receive a form for misc. income reported). It's best to check with a tax consultant as individual tax situations will vary.
Title: Re: do you file taxes for getting paid on surveys like this?
Post by: mshappy on October 17, 2012, 01:31:08 pm: This information is always good to know about tax's.
Title: Re: do you file taxes for getting paid on surveys like this?
Post by: penguinito on October 18, 2012, 12:33:06 am: oh got it thank u falcon9 for all th info. :heart:
Title: Re: do you file taxes for getting paid on surveys like this?
Post by: falcon9 on October 18, 2012, 12:37:25 am: Quote from: penguinito on October 18, 2012, 12:33:06 am
oh got it thank u falcon9 for all th info. :heart:

Da nada.
Title: Re: do you file taxes for getting paid on surveys like this?
Post by: Kay0338 on October 18, 2012, 08:56:07 am: Good question. I had never thought about taxes.
Title: Re: do you file taxes for getting paid on surveys like this?
Post by: patapon555 on October 20, 2012, 08:55:43 am: I don't. I don't feel like I should nor I should have to.
Title: Re: do you file taxes for getting paid on surveys like this?
Post by: darkmwh on October 20, 2012, 08:58:21 am: i'm not too sure
Title: Re: do you file taxes for getting paid on surveys like this?
Post by: ebrunt on October 20, 2012, 11:57:02 am: Basically if you make over $600 in a year from something like this, you have to report it. I know some working at home sites like ChaCha require you to fill out the forms if you earn over that amount with them. But I think with stuff like this, it's at your discretion -- obviously they want you to report it, but I don't think it's as controlled.
Title: Re: do you file taxes for getting paid on surveys like this?
Post by: ladavia89 on October 20, 2012, 08:29:13 pm: Once you make over $600 from any indivual site you have to report it. I chose to use several sites so I don't make too much per year on any given one
Title: Re: do you file taxes for getting paid on surveys like this?
Post by: swogden on October 21, 2012, 01:22:26 pm: If you cash out more than $600 in a calendar year in FC, they will send you and the IRS a 1099 reporting the income.

When you make a cash out request that will take you over $600 in a given calendar year, FC will request that you provided them with your tax reporting number (SS# for most people) before they approve the cashout.

Suggest you postpone any payment that will take you over $600 until the new calendar year.

If you expect to consistently earn large amounts of income from all your PTC/GPT sites, you should look into reporting the income as a separate business. This allows you to deduct expenses, but the reporting process is a bit complex so do some research before you make this step.
Title: Re: do you file taxes for getting paid on surveys like this?
Post by: AMBERTAYLOR31 on October 21, 2012, 10:12:48 pm: well i will be cutting it very close to the $600 mark this year. i haven't added up what i've made this year, but i know that it is very close to that amount.
Title: Re: do you file taxes for getting paid on surveys like this?
Post by: drpybutt on October 22, 2012, 08:34:43 am: I have yet to have taxes taken out of this. they have not sent me any tax forms either
Title: Re: do you file taxes for getting paid on surveys like this?
Post by: cwortman544 on October 22, 2012, 05:45:57 pm: Quote from: penguinito on October 15, 2012, 09:47:52 pm
im new here and i see alot of the payments and there are deductions so im guessing they're taxing it so is it tax deductions or something else.

Usually if there are deductions they will let you know in email about which offer revoked payment and speaking of which I had one this past month. I do really wonder if they actually still take the information we gave and then just get away with using it without having to pay someone for it. What would prevent companies from not doing that? Telling us all after it is all said and done that all of our payments are revoked for completing their surveys and yet they could still use the information and just have it for free instead of paying for it.
Title: Re: do you file taxes for getting paid on surveys like this?
Post by: lmavans on October 24, 2012, 11:40:18 pm: Thanks for the info I was wondering how that worked. You guys are the greatest for info, thankyou!!!!!!
Title: Re: do you file taxes for getting paid on surveys like this?
Post by: lannl on October 25, 2012, 12:25:22 am: I sure would hate to be taxed on this since it takes a very long time to make enough to cash out. If they taxed this and I had to fill out a bunch of complicted forms just to lose most of my earnings, I would look for something else to do for sure.
Title: Re: do you file taxes for getting paid on surveys like this?
Post by: nkopacki on October 25, 2012, 01:00:50 pm: u only have to pay taxes on anything if you make over a certain amount of money, that amount im not sure
Title: Re: do you file taxes for getting paid on surveys like this?
Post by: batmobile on October 25, 2012, 01:10:36 pm: i wont tell if you dont...this is like working a at strip club, you dont have to...this is a side deal, you only get paid so much not like a real job hon...take advantage of it ;)
Title: Re: do you file taxes for getting paid on surveys like this?
Post by: pstovall on October 25, 2012, 02:40:44 pm: I guess when you get a 1099 form from FusionCash, you can count yourself as successful. What a thrill that would be for me! Right now I'm doing good to make half that much, but even $300 a year for playing as FC is amazing to me! It's pure entertainment with benefits!!!
Title: Re: do you file taxes for getting paid on surveys like this?
Post by: Administrator on October 25, 2012, 03:44:14 pm: I am not a tax advisor, lawyer, nor accountant, and this is not intended to be tax advice. In general, the IRS requires that you report ALL income, whether $20 from a garage sale or $25 from FC. The $600/yr requirement is when WE (FC) have to report your income to the IRS. Below that level, the obligation to report is only yours.

Bear in mind that it's $600 RECEIVED per year, not $600 cashed out per year. For example, your total received in 2012 would be cashouts made from December 2011 to November 2012 (which would be received by you during Jan-Dec 2012).
Title: Re: do you file taxes for getting paid on surveys like this?
Post by: heypeg on October 25, 2012, 04:20:48 pm: Thanks for all the info. Wasn't sure how the tax was handled. Glad someone mentioned it.
Title: Re: do you file taxes for getting paid on surveys like this?
Post by: schomeearnings on October 25, 2012, 04:41:56 pm: I am glad we have people looking at the bigger pictures here as far as taxes. I was excited about my $53; so if I had to pay taxes I may be willing, but then again, I like my hard earned side money to myself!
Title: Re: do you file taxes for getting paid on surveys like this?
Post by: deisha718 on October 25, 2012, 08:41:11 pm: Quote from: batmobile on October 25, 2012, 01:10:36 pm
i wont tell if you dont...this is like working a at strip club, you dont have to...this is a side deal, you only get paid so much not like a real job hon...take advantage of it ;)

LOL! Pretty much and I doubt taxes would be a problem. It would be nice to make enough to file taxes, but this is just extra money to a lot people on this site. If you're taxed just for that, then that would be crazy.
Title: Re: do you file taxes for getting paid on surveys like this?
Post by: mikens08 on October 25, 2012, 09:16:08 pm: I believe it is around 500+ dollars when the IRS start to care about it then it becomes taxable, someone correct me if I am wrong
Title: Re: do you file taxes for getting paid on surveys like this?
Post by: falcon9 on October 25, 2012, 09:16:52 pm: Quote from: mikens08 on October 25, 2012, 09:16:08 pm
I believe it is around 500+ dollars when the IRS start to care about it then it becomes taxable, someone correct me if I am wrong

Quote from: Administrator on October 25, 2012, 03:44:14 pm
I am not a tax advisor, lawyer, nor accountant, and this is not intended to be tax advice. In general, the IRS requires that you report ALL income, whether $20 from a garage sale or $25 from FC. The $600/yr requirement is when WE (FC) have to report your income to the IRS. Below that level, the obligation to report is only yours.

Bear in mind that it's $600 RECEIVED per year, not $600 cashed out per year. For example, your total received in 2012 would be cashouts made from December 2011 to November 2012 (which would be received by you during Jan-Dec 2012).
Title: Re: do you file taxes for getting paid on surveys like this?
Post by: schomeearnings on October 26, 2012, 03:37:08 am: I think with the taxes each company is different. A company that my husband does it was $600 and another online company is $200, so as someone suggested, when you get the 1099 then you can worry about it. For now just enjoy yourself! :icon_rr:
Title: Re: do you file taxes for getting paid on surveys like this?
Post by: gbrown1 on October 26, 2012, 08:35:29 am: thanks for the info on taxes it is helpful :thumbsup: