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Discussion Boards => Off-Topic => Topic started by: countrygirl12 on August 15, 2018, 01:29:19 pm

Title: Paying Tax on Earnings on this Site
Post by: countrygirl12 on August 15, 2018, 01:29:19 pm
I know someone on here started a thread about this a while back.  Said they got a 10-99 at the end of the year.

IF you have received a 10-99 from a site like this can you tell me if you had to pay SS and Medicare in as well?  Just curious as to HOW you were taxed?
Title: Re: Paying Tax on Earnings on this Site
Post by: NRAJOE on August 15, 2018, 01:33:21 pm
Nope, just had to declare on taxes...with deductions I didn't owe any more anyways...I'm getting close on here.... :o
Title: Re: Paying Tax on Earnings on this Site
Post by: debidoo on August 15, 2018, 04:50:33 pm
I don't know about the medicare but when you get a 1099 you do have to pay social security.  It has been years but I used to do bookkeeping as an independent contractor and got a 1099 and had to do this other tax form to pay in SS. It has been so long I don't remember about anything else. You can deduct internet and other costs though associated with earning online.
Title: Re: Paying Tax on Earnings on this Site
Post by: Skyisbluetoday on August 15, 2018, 05:37:44 pm
  :party:   :glasses-nerdy:   :silly: They will send a  1099 form with your earnings. Medicare and other information is separate from this site for taxes. Hope this helps you!  :)   :party:   :glasses-nerdy:   :silly:
Title: Re: Paying Tax on Earnings on this Site
Post by: potluck6 on August 15, 2018, 07:13:47 pm
think you have to make 600.00 to get a 99 form whatever. so don't know how much ive made is away to see. if I got to 598.00 orso by the end of dec id stop so wont have to pay taxes.
Title: Re: Paying Tax on Earnings on this Site
Post by: ktheodos on August 15, 2018, 07:26:56 pm
Only if you earn more than a certain amount ($600 I believe)
Title: Re: Paying Tax on Earnings on this Site
Post by: snuggleycutejc on August 15, 2018, 10:01:58 pm
self employed, about if you earn like 600.00 a year you need to pay. If your pay like 339.00 your deductions are: fica 21.06, medicare 4.95, sdi/dieo 3.00 so you take out 29.39 so you can do ratio proportion for your calculations or learn what the payroll deduction % is per $ wow you know someone that makes $600.00 a year on this site I what to learn this, keep in touch.
Title: Re: Paying Tax on Earnings on this Site
Post by: ghunter on August 16, 2018, 06:26:41 am
I barley make $50.00 a year on this site, so I won't paid taxes.
Title: Re: Paying Tax on Earnings on this Site
Post by: countrygirl12 on August 16, 2018, 06:49:33 am
I don't know about the medicare but when you get a 1099 you do have to pay social security.  It has been years but I used to do bookkeeping as an independent contractor and got a 1099 and had to do this other tax form to pay in SS. It has been so long I don't remember about anything else. You can deduct internet and other costs though associated with earning online.

Hmmm.  I never thought about deducting internet costs. lol  That makes total sense though.
Title: Re: Paying Tax on Earnings on this Site
Post by: countrygirl12 on August 16, 2018, 07:02:12 am
self employed, about if you earn like 600.00 a year you need to pay. If your pay like 339.00 your deductions are: fica 21.06, medicare 4.95, sdi/dieo 3.00 so you take out 29.39 so you can do ratio proportion for your calculations or learn what the payroll deduction % is per $ wow you know someone that makes $600.00 a year on this site I what to learn this, keep in touch.

Well, I am going to come close on another site. Not this one. But over all I do well on this site too.  And it is from MY hard work not from referrals.  We have discussed that in other threads.  AND it has come to my conclusion that referrals are basically worthless.  I had a woman ASK me to refer her to one of my sites. I did. Not this one though. And I am assuming she did join but she didn't join thru my referral because I didn't get credit.

She got mad at me a couple days after I sent the referral so I assume that is why she didn't use the link I sent.
**sign**  Oh well.

I cash out pretty much every month. I may miss 1 or maybe 2 months a year.  I do the emails which is only 2 cents.  I mostly do surveys to make the bulk of my money. If you qualify for one survey you can get the 15 cent paid to click every day.  It all adds up.  A lot of people don't fool with the lower paying surveys. But they add up.  And if it is a 30 cent survey that is enough to qualify for the PTC section.  Then the $3 forum gives you another boost.
Title: Re: Paying Tax on Earnings on this Site
Post by: countrygirl12 on August 16, 2018, 07:10:22 am
think you have to make 600.00 to get a 99 form whatever. so don't know how much ive made is away to see. if I got to 598.00 orso by the end of dec id stop so wont have to pay taxes.

Your post is a little confusing. lol

You can go to MY ACCOUNT
MY CASHOUTS

Just add up what you have been paid.  Just remember the cash out date is not the paid date.  So December of last year would need to be included in the total for earnings this year.  Because December's cash out will actually be paid in January.  I have an app on my phone that when I cash out on any site or earn money on any site I put it in the app.  The app allows for "Jobs" which each site is a "Job".   I can input each time I cash out and keep up with what I have earned thus far.  Easier than looking for the info on each site. haha

You are lucky you could wait until $598.  Some sites want a tax form and your SS number by about $500.  I signed up for one that was a mystery shopping site and they want your social security number from the start.  If you earn $20 they send you a 10-99.  The rip off on that is say the job pays $7 plus reimbursing you for expenses up to $10.  So the total you turn in and get paid for is $17.  But you only earned $7.  The $10 was reimbursing you for money you spent.  I understand basically you are getting $17 but you are only getting $7 and $10 in goods.  I don't want to pay taxes on $10 worth of food from Dunkin Donuts.  Does that make sense?

Anyway, I skipped that one.  IT is legit and I have a friend who works for the site.  But his job allows him to travel all over the country so he has way more opportunities.  The area I live in has very little activity and what activity there is I have to drive at least an hour to get to the jobs.
Title: Re: Paying Tax on Earnings on this Site
Post by: bremer51 on August 16, 2018, 07:11:46 am
I don't have a cash-out of $50 each month, so I don't reach the threshold for the 1099.
Title: Re: Paying Tax on Earnings on this Site
Post by: countrygirl12 on August 16, 2018, 09:32:19 am
I don't have a cash-out of $50 each month, so I don't reach the threshold for the 1099.

You do not need a cash out of $50 a month.  You can cash out at $25.  I have months where I have barely over $25 and I have months where I have closer to $100.  I have never had over $600 on this site.
Title: Re: Paying Tax on Earnings on this Site
Post by: monnee on August 16, 2018, 01:12:20 pm
I don't earn enough to pay taxes on this site.
Title: Re: Paying Tax on Earnings on this Site
Post by: UGetPaid on August 18, 2018, 04:30:30 am
I don't have a cash-out of $50 each month, so I don't reach the threshold for the 1099.

You do not need a cash out of $50 a month.  You can cash out at $25.  I have months where I have barely over $25 and I have months where I have closer to $100.  I have never had over $600 on this site.


I think what this person  is saying is that you would need to average $50 a month to hit the $600 for the year - so in order to receive a 1099, you would have to basically earn $50 a month consistently.
Title: Re: Paying Tax on Earnings on this Site
Post by: UGetPaid on August 18, 2018, 04:58:50 am
Countrygirl,


How do you "get away with" writing in all caps??  Not a dig on you, but a legitimate question.  I know you have no control over it, so I am not actually looking for an answer.


The FC forum never allows me to write anything in all caps, so I have to use bold or italics when I am trying to emphasize something on here. But when I tried to do a quote reply to your comment above (and even deleted out your phrasing in all caps - it still prohibited me from posting!!!


I've run into that  issue several times where the caps were not even mine and I deleted them anyway - but the forum still somehow thinks that my post has bad caps in it.  It has happened many times and gets pretty frustrating because all of the offensive caps have been deleted!!!!!  (see below)
(http://tw.lucas-web.net/wp-content/uploads/2018/08/201808181.png)


Anyway - what app do you use to track your progress toward $600 that you referred to above?
Title: Re: Paying Tax on Earnings on this Site
Post by: dsosnowski06 on August 18, 2018, 07:32:35 pm
The last 2 years I have done over the $600 threshold and only had to claim it as income.  Came out that it didn't matter after my deductions so really not worried about the extra income.  Also when I checked my social security account it was added as income so it will help a very little towards my earnings when I go to collect my social security in 6 years. 
Title: Re: Paying Tax on Earnings on this Site
Post by: countrygirl12 on August 19, 2018, 12:47:08 pm
Countrygirl,


How do you "get away with" writing in all caps??  Not a dig on you, but a legitimate question.  I know you have no control over it, so I am not actually looking for an answer.


The FC forum never allows me to write anything in all caps, so I have to use bold or italics when I am trying to emphasize something on here. But when I tried to do a quote reply to your comment above (and even deleted out your phrasing in all caps - it still prohibited me from posting!!!


I've run into that  issue several times where the caps were not even mine and I deleted them anyway - but the forum still somehow thinks that my post has bad caps in it.  It has happened many times and gets pretty frustrating because all of the offensive caps have been deleted!!!!!  (see below)
(http://tw.lucas-web.net/wp-content/uploads/2018/08/201808181.png)


Anyway - what app do you use to track your progress toward $600 that you referred to above?

Uhm I don't type in all caps. I do use SOME caps from time to time.  I have never posted and entire post in all caps.

There are several. Just look in the app store for hour tracking apps.  I have a couple. One I use for hours worked on my actual job and I have another I think it is called  WORKTIME  that I use for sites like this.  You can use any app that allows you to do invoices.  You make each invoice  like this a "job" (like you are a business owner) then when you earn money you put it in to that "job".   You can then look at them and see what you have earned this year, this month, or however.  You can look at different ones because you may like something else better.  Also depends on what type phone you have.  iPhones have different apps available that Andriod phones.  But that is how I searched for the app to use.

Title: Re: Paying Tax on Earnings on this Site
Post by: mardukblood2009 on August 19, 2018, 06:24:46 pm
I am lucky if I make 200.00 a year on here. I think I cash out for 25 bucks about 10 times a year. I try to cash out ever month but the way this site is, it is almost impossible.  :-X
Title: Re: Paying Tax on Earnings on this Site
Post by: elvisdo on August 19, 2018, 06:54:47 pm
I don't know about the medicare but when you get a 1099 you do have to pay social security.  It has been years but I used to do bookkeeping as an independent contractor and got a 1099 and had to do this other tax form to pay in SS. It has been so long I don't remember about anything else. You can deduct internet and other costs though associated with earning online.

Hmmm.  I never thought about deducting internet costs. lol  That makes total sense though.

My accountant always deducts internet costs whenever I submit a tax form from one of these sites.
Title: Re: Paying Tax on Earnings on this Site
Post by: UGetPaid on August 19, 2018, 07:13:11 pm

Uhm I don't type in all caps. I do use SOME caps from time to time.  I have never posted and entire post in all caps.



Exactly! I know that this is better addressed in a support ticket, but I always seem to get this warning (and it prohibits me from posting) whenever I have just a couple of words in all caps - like the quote in your recent post. It is a glitch of some sort obviously - especially when you factor in that it wasn't me who used any caps and it still prohibits my post after I've deleted the caps in an edit...


 ??? ??? ???
Title: Re: Paying Tax on Earnings on this Site
Post by: countrygirl12 on August 20, 2018, 01:52:54 pm
I don't know about the medicare but when you get a 1099 you do have to pay social security.  It has been years but I used to do bookkeeping as an independent contractor and got a 1099 and had to do this other tax form to pay in SS. It has been so long I don't remember about anything else. You can deduct internet and other costs though associated with earning online.

Hmmm.  I never thought about deducting internet costs. lol  That makes total sense though.

My accountant always deducts internet costs whenever I submit a tax form from one of these sites.

I didn't know that  I will remember that.
Title: Re: Paying Tax on Earnings on this Site
Post by: countrygirl12 on August 20, 2018, 01:54:36 pm

Uhm I don't type in all caps. I do use SOME caps from time to time.  I have never posted and entire post in all caps.



Exactly! I know that this is better addressed in a support ticket, but I always seem to get this warning (and it prohibits me from posting) whenever I have just a couple of words in all caps - like the quote in your recent post. It is a glitch of some sort obviously - especially when you factor in that it wasn't me who used any caps and it still prohibits my post after I've deleted the caps in an edit...


 ??? ??? ???

So you are submitting a support ticket - telling on me?  Uhm okay.  You can always just type your own post and put the first line the person you are wanting to talk to.  I have never posted an entire post in all caps.  I get the same warning as everyone else.
Title: Re: Paying Tax on Earnings on this Site
Post by: freedavis on August 20, 2018, 05:35:52 pm
I have never made enough to pay taxes.  I think you would need to make over 500.
Title: Re: Paying Tax on Earnings on this Site
Post by: NRAJOE on August 21, 2018, 06:01:00 am
I just hit $600 with last cash out...tried to fill out the on line W-9 on here but it wouldn't go through...put in support ticket and still waiting on reply.
Probably have to fax it in like I did with another site a couple years ago.
Won't let me cash out until they get it.... :(
Title: Re: Paying Tax on Earnings on this Site
Post by: countrygirl12 on August 21, 2018, 08:43:12 am
I have never made enough to pay taxes.  I think you would need to make over 500.

It is $600
Title: Re: Paying Tax on Earnings on this Site
Post by: countrygirl12 on August 21, 2018, 08:46:12 am
I just hit $600 with last cash out...tried to fill out the on line W-9 on here but it wouldn't go through...put in support ticket and still waiting on reply.
Probably have to fax it in like I did with another site a couple years ago.
Won't let me cash out until they get it.... :(

The only time I have needed to submit one I mailed it. 
Title: Re: Paying Tax on Earnings on this Site
Post by: elvisdo on August 22, 2018, 05:06:28 am
I don't know about the medicare but when you get a 1099 you do have to pay social security.  It has been years but I used to do bookkeeping as an independent contractor and got a 1099 and had to do this other tax form to pay in SS. It has been so long I don't remember about anything else. You can deduct internet and other costs though associated with earning online.

Hmmm.  I never thought about deducting internet costs. lol  That makes total sense though.

My accountant always deducts internet costs whenever I submit a tax form from one of these sites.

I didn't know that  I will remember that.

Since you are also using a personal computer, you can also deduct a percentage of the time as well. For example, you spend 10% of your time on FC throughout the year to earn money. That's something you can also claim.
Title: Re: Paying Tax on Earnings on this Site
Post by: countrygirl12 on August 22, 2018, 07:52:45 am
I don't know about the medicare but when you get a 1099 you do have to pay social security.  It has been years but I used to do bookkeeping as an independent contractor and got a 1099 and had to do this other tax form to pay in SS. It has been so long I don't remember about anything else. You can deduct internet and other costs though associated with earning online.

Hmmm.  I never thought about deducting internet costs. lol  That makes total sense though.

My accountant always deducts internet costs whenever I submit a tax form from one of these sites.

I didn't know that  I will remember that.

Since you are also using a personal computer, you can also deduct a percentage of the time as well. For example, you spend 10% of your time on FC throughout the year to earn money. That's something you can also claim.

That would be hard to prove. I paid for the computer in full a couple or more years ago. I figured if you get in to that then you are kind of like running a business and you could end up having to pay something for running a business out of your home.  I think when you file it asks if you "run a business" from your home. I don't call this type of earning money a job.  Esp since some days I may spend ALL day on here and only make a couple of dollars.  You have to have income from some where else. No one can make enough on penny clicking survey sites to totally support themselves.  If they can I would like to have a real chat with them. lol
Title: Re: Paying Tax on Earnings on this Site
Post by: adriarobi on August 22, 2018, 08:01:41 am
Yeah it can happen.

I don't earn enuf on here to be concerned.

Wish I did!!

 :rose:
Title: Re: Paying Tax on Earnings on this Site
Post by: Tresbn00 on August 23, 2018, 10:28:46 am
A 1099 is issued to sub contractors when income is equal to or greater than six hundred dollars. It is up to the sub contractor to pay the taxes on the income stated on the 1099. Subcontractors pay their own taxes. If you were an employee of Fusion Cash you would receive a w-2 statement of taxes at the end of the year and Fusion Cash would be collecting the taxes from your gross income and issuing a pay check to you that would reflect the net income. Regulations dictate that entities are required to send a 1099 tax statement at $600.00. All income is taxable whether it hits the six hundred dollar threshold or not (ask any reputable certified public accountant or IRS agent). I had a house keeper that wanted a paid vacation. I told her that if I did that I would issue her a 1099 (and take the deduction). Her choice was to forego the paid vacation instead of paying twenty five percent of her income in taxes. People choose, illegally, to not claim income less than $600. If income received under $600 was not taxable, I would be the first person to take on 150 jobs so that I could make $90,000 tax free. The government would not allow someone to make $90,000 at 150 jobs tax free but will, most likely, not go after someone only making $200 from fusion cash.
Title: Re: Paying Tax on Earnings on this Site
Post by: countrygirl12 on August 24, 2018, 06:53:16 am
A 1099 is issued to sub contractors when income is equal to or greater than six hundred dollars. It is up to the sub contractor to pay the taxes on the income stated on the 1099. Subcontractors pay their own taxes. If you were an employee of Fusion Cash you would receive a w-2 statement of taxes at the end of the year and Fusion Cash would be collecting the taxes from your gross income and issuing a pay check to you that would reflect the net income. Regulations dictate that entities are required to send a 1099 tax statement at $600.00. All income is taxable whether it hits the six hundred dollar threshold or not (ask any reputable certified public accountant or IRS agent). I had a house keeper that wanted a paid vacation. I told her that if I did that I would issue her a 1099 (and take the deduction). Her choice was to forego the paid vacation instead of paying twenty five percent of her income in taxes. People choose, illegally, to not claim income less than $600. If income received under $600 was not taxable, I would be the first person to take on 150 jobs so that I could make $90,000 tax free. The government would not allow someone to make $90,000 at 150 jobs tax free but will, most likely, not go after someone only making $200 from fusion cash.

I know how it works.  You do not have to claim anything under $600 unless you are paid a regular check then you employer will turn you in on THEIR end.  So you are going to have to claim on your end as well.  If it is under $600 most places do not send a 10-99 although they can.  IF they send you a 10-99 you have no choice but to claim it.  If you do not when the other person claims where they paid you then you are going to get caught.

You do not have to claim income that is under $600.  This on the IRS website.  I doubt you claim the money you make from these sites.  Or the $10 your neighbor gives you for feeding her dog while she is away for the weekend.

And even suggesting you could work 150 jobs is laughable.  And FYI if you are working doing odd jobs for cash as long as you aren't mooching off government programs nobody is going to know nor will they care.

I do my taxes correctly.   Not claiming a couple hundred dollars that you get from a site like this is totally legal.
Title: Re: Paying Tax on Earnings on this Site
Post by: judylucas on August 24, 2018, 09:13:11 am
I never come close to the amount needed to earn to pay taxes
Title: Re: Paying Tax on Earnings on this Site
Post by: squirrelgirl44 on August 24, 2018, 10:16:07 am
I had to pay taxes one year, I think it was 2013. Had I figured it out beforehand. I went ahead and took the tax hit, not realizing that about 1/3 of what I earned went to taxes. After that I made sure that I didn't hit that threshold. It would have been smarter of me to just let some of the credits expire instead. It wasn't worth it.
Title: Re: Paying Tax on Earnings on this Site
Post by: elvisdo on August 24, 2018, 01:26:55 pm
I don't know about the medicare but when you get a 1099 you do have to pay social security.  It has been years but I used to do bookkeeping as an independent contractor and got a 1099 and had to do this other tax form to pay in SS. It has been so long I don't remember about anything else. You can deduct internet and other costs though associated with earning online.

Hmmm.  I never thought about deducting internet costs. lol  That makes total sense though.

My accountant always deducts internet costs whenever I submit a tax form from one of these sites.

I didn't know that  I will remember that.

Since you are also using a personal computer, you can also deduct a percentage of the time as well. For example, you spend 10% of your time on FC throughout the year to earn money. That's something you can also claim.

That would be hard to prove. I paid for the computer in full a couple or more years ago. I figured if you get in to that then you are kind of like running a business and you could end up having to pay something for running a business out of your home.  I think when you file it asks if you "run a business" from your home. I don't call this type of earning money a job.  Esp since some days I may spend ALL day on here and only make a couple of dollars.  You have to have income from some where else. No one can make enough on penny clicking survey sites to totally support themselves.  If they can I would like to have a real chat with them. lol

I should rephrase that. What percentage of the computer is used towards these sites? That's the way my accountant explained it to me. Realistically I don't think it's more than 10%. So take into account how much you paid for your computer minus 10%. Of course this number decreases every year since the value of your computer depreciates over time. In the end it's just not worth making that declaration on your taxes.
Title: Re: Paying Tax on Earnings on this Site
Post by: patti4me on August 24, 2018, 02:36:11 pm
I don't see where I will ever have to address that issue since I don't make a lot of money on this site (or any site for that matter)
Title: Re: Paying Tax on Earnings on this Site
Post by: Tresbn00 on August 25, 2018, 01:02:58 pm
Per file path www.irs.gov: "It is a common misconception that if a taxpayer does not receive a Form 1099-MISC or if the income is under $600 per payer, the income is not taxable. The $600 limit is just the IRS requirement for Form 1099-MISC to be considered necessary to file by the payer...cash earned from side jobs; barter exchanges of goods and services; awards, prizes, contest winnings and gambling proceeds". Volition.com states that "your taxable income is all income made from all companies". Intuit.com "you need to report ALL income". Forbes.com/taxgirl attorney states, when asked if $599 from one employer and $150 from another needs to be claimed: "Yes. Income is income, no matter the amount...It's easy enough for the IRS to trace this...I have represented a number of taxpayers who assumed that it would be fine to leave a little check out here and there on purpose. But its not fine. If you get caught, you will be responsible for paying the tax plus interest and a penalty-underreporting is a crime". 150 sources of income is not difficult to achieve and several thousand individuals were indicted for tax evasion utilizing this method as outlined in the Panama Papers. I have had up to forty sources of income which is why I sought the aid of a certified public accountant. You may heed the quotes in this post, listen to those that file their own taxes (who do not have accounting certification, listen to my CPA that states that finding a quarter on the street constitutes income, but I would direct you to conduct your own research and seek the help of a licensed professional if doing the right thing concerns you.
Title: Re: Paying Tax on Earnings on this Site
Post by: hawkeye3210 on August 25, 2018, 02:35:16 pm

You do not have to claim income that is under $600.  This on the IRS website. 

From the IRS website:
"It is a common misconception that if a taxpayer does not receive a Form 1099-MISC or if the income is under $600 per payer, the income is not taxable. There is no minimum amount that a taxpayer may exclude from gross income."

https://www.irs.gov/newsroom/reporting-miscellaneous-income
Title: Re: Paying Tax on Earnings on this Site
Post by: freedavis on August 26, 2018, 07:01:35 am
I think you only pay over 500 if you reach
Title: Re: Paying Tax on Earnings on this Site
Post by: countrygirl12 on August 26, 2018, 12:48:59 pm
I don't know about the medicare but when you get a 1099 you do have to pay social security.  It has been years but I used to do bookkeeping as an independent contractor and got a 1099 and had to do this other tax form to pay in SS. It has been so long I don't remember about anything else. You can deduct internet and other costs though associated with earning online.

Hmmm.  I never thought about deducting internet costs. lol  That makes total sense though.

My accountant always deducts internet costs whenever I submit a tax form from one of these sites.

I didn't know that  I will remember that.

Since you are also using a personal computer, you can also deduct a percentage of the time as well. For example, you spend 10% of your time on FC throughout the year to earn money. That's something you can also claim.

That would be hard to prove. I paid for the computer in full a couple or more years ago. I figured if you get in to that then you are kind of like running a business and you could end up having to pay something for running a business out of your home.  I think when you file it asks if you "run a business" from your home. I don't call this type of earning money a job.  Esp since some days I may spend ALL day on here and only make a couple of dollars.  You have to have income from some where else. No one can make enough on penny clicking survey sites to totally support themselves.  If they can I would like to have a real chat with them. lol

I should rephrase that. What percentage of the computer is used towards these sites? That's the way my accountant explained it to me. Realistically I don't think it's more than 10%. So take into account how much you paid for your computer minus 10%. Of course this number decreases every year since the value of your computer depreciates over time. In the end it's just not worth making that declaration on your taxes.

Actually that is about all I use mine for. But the computer is paid for. I most likely would not ever even try something like that. Too hard to prove.
Title: Re: Paying Tax on Earnings on this Site
Post by: hawkeye3210 on August 26, 2018, 04:58:59 pm
Per file path www.irs.gov: "It is a common misconception that if a taxpayer does not receive a Form 1099-MISC or if the income is under $600 per payer, the income is not taxable. The $600 limit is just the IRS requirement for Form 1099-MISC to be considered necessary to file by the payer...cash earned from side jobs; barter exchanges of goods and services; awards, prizes, contest winnings and gambling proceeds". Volition.com states that "your taxable income is all income made from all companies". Intuit.com "you need to report ALL income". Forbes.com/taxgirl attorney states, when asked if $599 from one employer and $150 from another needs to be claimed: "Yes. Income is income, no matter the amount...It's easy enough for the IRS to trace this...I have represented a number of taxpayers who assumed that it would be fine to leave a little check out here and there on purpose. But its not fine. If you get caught, you will be responsible for paying the tax plus interest and a penalty-underreporting is a crime". 150 sources of income is not difficult to achieve and several thousand individuals were indicted for tax evasion utilizing this method as outlined in the Panama Papers. I have had up to forty sources of income which is why I sought the aid of a certified public accountant. You may heed the quotes in this post, listen to those that file their own taxes (who do not have accounting certification, listen to my CPA that states that finding a quarter on the street constitutes income, but I would direct you to conduct your own research and seek the help of a licensed professional if doing the right thing concerns you.

LOL.  So I assume that you claim all your earnings on this site and other sites like this on your taxes? HA!

I have talked to a CPA and he said that if it is less than $600 you do not have to claim it.  I doubt very seriously you claim every penny you get for this and that all thru the year on your taxes.  If it is less than $600 you do NOT have to claim it.

You can do what you want, but it isn't helpful to anyone if you spread things that aren't true.

From the IRS website:
"It is a common misconception that if a taxpayer does not receive a Form 1099-MISC or if the income is under $600 per payer, the income is not taxable. There is no minimum amount that a taxpayer may exclude from gross income."

https://www.irs.gov/newsroom/reporting-miscellaneous-income
Title: Re: Paying Tax on Earnings on this Site
Post by: countrygirl12 on August 27, 2018, 07:19:13 am
I actually just made a couple of phone calls and I have the real and correct answers to the question I was trying to get answered.
Title: Re: Paying Tax on Earnings on this Site
Post by: natashaspy on August 27, 2018, 09:04:35 am
I don't think so, just regular taxes.  If I'm not mistaken you have to make at least 600 a year before you even get the 1099 to start with.
Title: Re: Paying Tax on Earnings on this Site
Post by: Azanne07 on August 27, 2018, 10:23:54 am
I know someone on here started a thread about this a while back.  Said they got a 10-99 at the end of the year.

IF you have received a 10-99 from a site like this can you tell me if you had to pay SS and Medicare in as well?  Just curious as to HOW you were taxed?

ive had a 1099 but because I had income from other sources I really didn't feel the affect I just got a little bit less back and im not sure how that broke down
Title: Re: Paying Tax on Earnings on this Site
Post by: countrygirl12 on August 27, 2018, 11:02:54 am
I know someone on here started a thread about this a while back.  Said they got a 10-99 at the end of the year.

IF you have received a 10-99 from a site like this can you tell me if you had to pay SS and Medicare in as well?  Just curious as to HOW you were taxed?

ive had a 1099 but because I had income from other sources I really didn't feel the affect I just got a little bit less back and im not sure how that broke down

It doesn't break down by individual sources. It is a total.  If you had income from a job and they took out taxes then if that was ALL you had then you would have gotten money back. But if you got a 10-99 from this site then you didn't pay taxes on that.  SO, the taxes you should have paid on here was taken from what you should have gotten back if you were going to owe anything. If it is a smaller amount you wouldn't owe any taxes anyway.  I would assume it is $600 since that is the cut off where you do not have to send a 10-99.

It amazes me that such a simple question could start such a huge fight.  Too many people who have to be right on something that doesn't even concern them. lol
Title: Re: Paying Tax on Earnings on this Site
Post by: countrygirl12 on August 27, 2018, 11:07:23 am
I do not even know how the fight got started over reporting if over or less than $600.  MY ORIG QUESTION was if anyone who had received a 10-99 had to pay social security and medicare as well as just the federal tax.  THAT was the question.

Title: Re: Paying Tax on Earnings on this Site
Post by: UGetPaid on September 06, 2018, 08:41:41 am


Exactly! I know that this is better addressed in a support ticket, but I always seem to get this warning (and it prohibits me from posting) whenever I have just a couple of words in all caps - like the quote in your recent post. It is a glitch of some sort obviously - especially when you factor in that it wasn't me who used any caps and it still prohibits my post after I've deleted the caps in an edit...


 ??? ??? ???

So you are submitting a support ticket - telling on me?  Uhm okay.  You can always just type your own post and put the first line the person you are wanting to talk to.  I have never posted an entire post in all caps.  I get the same warning as everyone else.


No, you missed my point entirely!  I didn't submit a support ticket about this - mainly because it's ultimately not a big enough deal to be worth it. ...and I have no problem with your posts precisely because they aren't in all caps.


The point was just that I found it odd that the forum software would not let me quote a post where you had only one or two words in all caps (hardly excessive) and it still told me that I needed to correct that after deleting the portion of the quote that was in caps (which, in my mind, corrected the red flag).


I am not submitting any support tickets and I have no problem with you as there were no violations! (Also I would not be that petty to whine about somebody in a support ticket - what am I? In the second grade on the playground?)


No, my frustration was with the glitch that even after deleting caps that it let you post, it was still flagging and not allowing my reply with NO caps as a violation.  So, just to be clear - no animosity here - was just trying to point out the irony with some sarcasm that doesn't translate very well just with text.  It's all good!   
 :highfive:


 
Title: Re: Paying Tax on Earnings on this Site
Post by: countrygirl12 on September 06, 2018, 12:43:43 pm


Exactly! I know that this is better addressed in a support ticket, but I always seem to get this warning (and it prohibits me from posting) whenever I have just a couple of words in all caps - like the quote in your recent post. It is a glitch of some sort obviously - especially when you factor in that it wasn't me who used any caps and it still prohibits my post after I've deleted the caps in an edit...


 ??? ??? ???

So you are submitting a support ticket - telling on me?  Uhm okay.  You can always just type your own post and put the first line the person you are wanting to talk to.  I have never posted an entire post in all caps.  I get the same warning as everyone else.


No, you missed my point entirely!  I didn't submit a support ticket about this - mainly because it's ultimately not a big enough deal to be worth it. ...and I have no problem with your posts precisely because they aren't in all caps.


The point was just that I found it odd that the forum software would not let me quote a post where you had only one or two words in all caps (hardly excessive) and it still told me that I needed to correct that after deleting the portion of the quote that was in caps (which, in my mind, corrected the red flag).


I am not submitting any support tickets and I have no problem with you as there were no violations! (Also I would not be that petty to whine about somebody in a support ticket - what am I? In the second grade on the playground?)


No, my frustration was with the glitch that even after deleting caps that it let you post, it was still flagging and not allowing my reply with NO caps as a violation.  So, just to be clear - no animosity here - was just trying to point out the irony with some sarcasm that doesn't translate very well just with text.  It's all good!   
 :highfive:


 

Well, I didn't think you would. We have chatted for a few years now and seem to always get along. That is why it surprised me.

Kind of like when it bleeps out stuff like them round kid toys that you bounce.  Like you said a horrid word or something. :D