This topic is locked, no replies allowed. Inaccurate or out-of-date info may be present.

  • Print

Topic: Do I have to pay taxes if I make $25 or $35 dollars every other month?  (Read 5082 times)

apples45

    US flag
    View Profile
  • Sr. Member
  • ****
  • Posts: 354 (since 2010)
  • Thanked: 0x
Hello, I have a question that I really want to know the answer to, I would like to know if I have to pay taxes on any and all online earnings such as FC cash and paypal gift cards Amazon gift cards etc? just for the record I'm a law abiding person and I don't want to do anything that will break the law or cause me trouble or headaches, so if I'm supposed to pay taxes for online earnings please tell me because I don't know much about certain tax laws

If the answer is yes how much money should I pay and where should my tax payment be sent can I pay IRS tax online will I have to pay taxes for old online earns of $25 or $35??? my goodness I hope I don't have to worrie I don't earn much online but the little I do earn helps me sigh!?
:confused1:

falcon9

    US flag
    View Profile
  • Platinum Member
  • *********
  • Posts: 9741 (since 2010)
  • Thanked: 2x
Hello, I have a question that I really want to know the answer to, I would like to know if I have to pay taxes on any and all online earnings such as FC cash and paypal gift cards Amazon gift cards etc? just for the record I'm a law abiding person and I don't want to do anything that will break the law or cause me trouble or headaches, so if I'm supposed to pay taxes for online earnings please tell me because I don't know much about certain tax laws

If the answer is yes how much money should I pay and where should my tax payment be sent can I pay IRS tax online will I have to pay taxes for old online earns of $25 or $35??? my goodness I hope I don't have to worrie I don't earn much online but the little I do earn helps me sigh!?
:confused1:

Actually we send a 1099-MISC ... only if you exceed $600 in earnings for a calendar year.

What this means is that, if you do have such misc. earnings, you should receive a form 1099-MISC for filing any appropriate taxes with the IRS.
One can lead a horse to water however, if one holds the horse's head under, that horse will drown.

             

longleggedgiraffe

    US flag
    View Profile
  • Sr. Member
  • ****
  • Posts: 427 (since 2010)
  • Thanked: 0x
Technically you dont have to claim it if it falls under 600 dollars a year. I would check first but Im almost sure about that amount.

Screwedupclick4life337

    US flag
    View Profile
  • Silver Member
  • *******
  • Posts: 1990 (since 2011)
  • Thanked: 22x
Yea I think 600 dollars is the amount you can't go over

jorhea

    US flag
    View Profile
  • Silver Member
  • *******
  • Posts: 1602 (since 2010)
  • Thanked: 36x
Yes, up to $600 on each site you don't have to pay taxes on. If you are unsure, call a tax expert and ask. They normally don't charge anything if you call and ask a question. I would do that to put your mind at ease so you are not worrying for nothing.



pattersondebra

    US flag
    View Profile
  • Hero Member
  • *****
  • Posts: 566 (since 2011)
  • Thanked: 4x
I forgot about that. Would it be 600 per sight or 600 all together?

hlvhome

    US flag
    View Profile
  • Full Member
  • ***
  • Posts: 136 (since 2012)
  • Thanked: 0x
That would be nice to worry about having to pay taxes, that you could make $600 in a year. Good goal maybe

jorhea

    US flag
    View Profile
  • Silver Member
  • *******
  • Posts: 1602 (since 2010)
  • Thanked: 36x
I forgot about that. Would it be 600 per sight or 600 all together?
I think it would be 600 per site as each site is a different company.



falcon9

    US flag
    View Profile
  • Platinum Member
  • *********
  • Posts: 9741 (since 2010)
  • Thanked: 2x
Would it be 600 per sight or 600 all together?

I think it would be 600 per site as each site is a different company.

If you receive a form 1099-MISC from a company, they've reported paying this misc. earned income to you and the IRS, so there's a potential tax liability, (depending upon your individual taxation status/bracket).  Best to check with a tax service on the matter, if unsure.
One can lead a horse to water however, if one holds the horse's head under, that horse will drown.

             

ccandpam

    US flag
    View Profile
  • Platinum Member
  • *********
  • Posts: 4083 (since 2009)
  • Thanked: 94x
You would have to make six hundred dollars in a year in order to have to pay taxes. Don't worry about anything until you reach 600.00. They will send you a tax form when you reach this amount. :D

LovelyxOdd

    US flag
    View Profile
  • Sr. Member
  • ****
  • Posts: 443 (since 2011)
  • Thanked: 25x
Anything over $599 you have to file a 1099 form. You are considered an independent contractor.

ptfunds

    US flag
    View Profile
  • Sr. Member
  • ****
  • Posts: 459 (since 2009)
  • Thanked: 1x
Great topic and something I had not thought about.  Good to know the $599 - $600 limit on earnings.  It does help to know these things as none of us want to get in a bad place with the IRS!  This is such a great venue for members posting questions or concerns that bring awareness to others in the forum.  I'm constantly amazed at how much I learn from just doing the forum.  I'm always reminded of how unique Fusion Cash is in the world of these types of sites.  Thanks again for your topic and have a great day!

dsawan

    US flag
    View Profile
  • Platinum Member
  • *********
  • Posts: 4782 (since 2011)
  • Thanked: 46x
can check the irs website and would tell you. Just do a search.

hicham1976

    US flag
    View Profile
  • Elite Member
  • ******
  • Posts: 827 (since 2011)
  • Thanked: 12x
it is a good question thank you for it  :) :) :) :) :) :)

drpybutt

    US flag
    View Profile
  • Sr. Member
  • ****
  • Posts: 313 (since 2011)
  • Thanked: 11x
Not that I know of. This is not actually a job or contest that requires you to pay taxes

  • Print
 

Related Topics

  Subject / Started by Replies Last post
3 Replies
2197 Views
Last post January 19, 2009, 10:37:17 am
by squirrelgirl44
41 Replies
12660 Views
Last post October 16, 2011, 09:53:40 am
by teerz
51 Replies
9453 Views
Last post December 31, 2011, 08:38:41 am
by DeliriousKris
40 Replies
5213 Views
Last post March 03, 2012, 01:50:39 pm
by Snoozey
41 Replies
5708 Views
Last post January 02, 2014, 10:17:19 pm
by faamanatu68