Tax for freepay's items?
pochacco
26-01-2006 14:32:09
Hi... I have a question....
Do you have to pay tax for freepay's items? Will then send you a W-2 form for the items you received? If they will, which item will you have to file tax on?
Please help... Thank you!
tylerc
26-01-2006 15:41:45
If it's over $600, you have to fill out a W-9.
pochacco
26-01-2006 16:04:59
do you know which one is over $600 in the list below
xbox360
ps3
pc
laptop
minimacs
thanks!
MyungChunHa
26-01-2006 16:10:44
[quotee2f3d8becb="pochacco"]do you know which one is over $600 in the list below
xbox360
ps3
pc
laptop
minimacs
thanks![/quotee2f3d8becb]
i know that the 360 and the minimac are both under $600, im not sure about the ps3....shouldnt go over $600 though.....and it depends what kind of pc and laptop you choose to recieve....
tylerc
26-01-2006 16:48:28
Laptop definitely, all of those are about $1000.
Shaomoki
26-01-2006 19:25:56
Yeah. It depends on the items you receive. The Acer Aspire laptop though doesn't need a W-9 form because the laptop supplier for Freepay is running a promotion that has reduced the price of the laptop slightly to below the $600 mark. So, they will not need the W-9 forms from you.
Eric P
26-01-2006 21:01:37
... and what would happen if u dont fill one out?
shamash
26-01-2006 21:44:09
You don't get your gift, however, it's VERY easy to fill out the form.
Flip21
26-01-2006 23:09:12
The government can't tax what it doesn't know about.
tsanghan
26-01-2006 23:30:18
[quote5a6a4db932="Flip21"]The government can't tax what it doesn't know about.[/quote5a6a4db932]
whats that mean ?
pochacco
27-01-2006 03:16:46
so you have to fill it out before receiving the gift rite?
Any "gift" received from any of these sites is considered income and is taxable.
[quote042311d7d5="Flip21"]The government can't tax what it doesn't know about.[/quote042311d7d5]
No one gets the gift until they fill out the form.
zer0dmb
27-01-2006 19:22:41
Does anyone know if Freepay, and others will be sending out 1099's for those who had to complete a W-9. I know the reason's behind the tax form and all, I am curious as to whether we will receive these. I am under the impression that the gov't. requires companies to issue 1099's if they report gifts with a W-9? Anybody know anymore? TIA...
/zer0
pochacco
28-01-2006 11:45:47
o.k.... thanks for all the response..... I guess I have to consider before getting the laptops eh? )
pokernerdaa
28-01-2006 12:47:12
seems kinda ridiculous to pay tax on them. but hey, if that is what it means to get the free stuff, i guess we'll have to do it wink
EasyAs456
28-01-2006 15:12:10
Would you rather pay $600 dollars out of your own pocket to get the gift yourself or pay a little bit of tax on it and get it =p. I like the tax thing )
hilaryfanatic09
28-01-2006 15:49:37
Okay, but what about the Compaq? Tax on that?
And does anyone know how long the laptops on pcs.freepay have been on there? Because it says "Limited offer" and I'm afraid by the time i get my referrals there wont be any laptops.
Any Idea?
hilaryfanatic09
28-01-2006 16:08:31
Nevermind for now, I just found a thread saying that pcs.freepay is to be updated in a few days.
Alien Zulu
29-01-2006 14:31:09
[quote2d0485f7a3="pochacco"]do you know which one is over $600 in the list below
xbox360
ps3
pc
laptop
minimacs
thanks![/quote2d0485f7a3]
if you got all of those woldn't that be well over $600?
EasyAs456
29-01-2006 14:36:30
Tax is different for each FreePay site (those are all below $600 dollars so no W-9 form is asked from you)
On Laptop it depends on which one you get , on PC's there's no W-9 Requirement..?
tylerc
29-01-2006 16:21:45
No, on laptops.freepay you have to fill a W-9 out for all of them.
EasyAs456
29-01-2006 18:13:42
Well from reading in past thread didn't they say if you picked the Compaq because of some supposed promotion they were not going to need your W-9 because the cost was less than $600?
tylerc
29-01-2006 18:18:42
That's PCs.FreePay, I was talking about Laptops.FreePay.
EasyAs456
29-01-2006 18:28:55
Oh sorry.. I mixed them up, laptops and laptops.. get's a bit confusing.
pochacco
04-02-2006 02:44:46
Well, I decided to go for the laptops.freepay anywayz.... I guess I can use my student education tax credit so I don't think I'd have to pay much tax for the laptop... so oh well.... 20 refs here I come ) thanks all for the replies...
petezahut2
04-02-2006 08:20:52
Does FreePay send you the form? How much does it cost?
tylerc
04-02-2006 09:05:09
FreePay sends you the form, I just filled it out, scanned it, and e-mailed it back to them, but you can also fax it or snail mail.
Wolfeman
04-02-2006 09:13:35
[quoteaaa4b0b165="PokerNerdAA"]seems kinda ridiculous to pay tax on them. but hey, if that is what it means to get the free stuff, i guess we'll have to do it wink[/quoteaaa4b0b165]
So dumb...
d3athtonic
04-02-2006 16:11:13
Do you have to fill out the tax form if you're not a US citizen?