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Topic: is fusion cash money taxable  (Read 253 times)

jesusluvsme37

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is fusion cash money taxable
« on: April 30, 2012, 02:37:32 pm »
do we hav to pay taxes on this


falcon9

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Re: is fusion cash money taxable
« Reply #1 on: April 30, 2012, 02:55:25 pm »
do we hav to pay taxes on this

If you make $600 on FC, (or other companies), during a tax year, you should receive a form 1099-MISC from those companies since they've reported paying this misc. earned income to you and the IRS. There may be a potential tax liability, (depending upon your individual taxation status/bracket).  Best to check with a tax service on the matter, if unsure.
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kords21

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Re: is fusion cash money taxable
« Reply #2 on: May 01, 2012, 09:23:58 am »
If you do make over $600 with fusion cash, you best report it with the tax form. Believe me, if the IRS determines you owe them money as a result of your "income" here, they'll come after you.

surveysmillenium

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Re: is fusion cash money taxable
« Reply #3 on: May 01, 2012, 10:52:04 pm »
The banks send a report of "income" earned even if you only accrued a few dollars during the year. I would check with a CPA but if u do ur own taxes, you should err on the side of caution. Nobody wants to mess with the IRS.

duroz

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Re: is fusion cash money taxable
« Reply #4 on: May 02, 2012, 08:49:12 am »
Here is the link to a topic/thread that will likely answer MOST of everyone's questions:
http://www.fusioncash.net/forum.php?topic=36947.0



                    
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