How do people treat this as a business?

Live forum: http://forum.freeipodguide.com/viewtopic.php?t=66161

mcgrom

08-07-2007 11:23:22

I am looking for someone to show me how this is run from a business point of view how its done etc. People are making tons of money buy giving other people money to go green and I know it. So if you feel like spilling your guts to me that would be greatly appreciated. Thanks!

gnznroses

08-07-2007 11:28:22

imo they shouldn't, and project payday shouldn't encourage it.
it's not good for the industry and it's not a stable or long-term business. you'd be better off finding other areas to make money online (open an ebay store, learn to make a website that caters to a niche, etc)

CollidgeGraduit

08-07-2007 11:41:34

[quotec70eae3daf="gnznroses"]imo they shouldn't, and project payday shouldn't encourage it.
it's not good for the industry and it's not a stable or long-term business. you'd be better off finding other areas to make money online (open an ebay store, learn to make a website that caters to a niche, etc)[/quotec70eae3daf]

QFT

mcgrom

08-07-2007 12:21:02

I thought so.... thanks for the info I am understanding then it's a way to make quick buck and get some free prizes. Thanks for your reply.

topbillin1

11-07-2007 13:51:48

Noobs think this is a business and it's not. They hurt the scene when they do this and this isn't a business by a long shot, common sense would tell anyone this.

cubbieco

11-07-2007 23:00:51

It's a hobby. Its something to do for fun with spare time and spare funds. You will never make a consistent good living doing this. People seem to do well for a while, but it doesn't last forever.

Elsie82271

12-07-2007 00:29:12

Just had a thought...how do you claim this on your taxes or do you?

dmorris68

12-07-2007 07:02:03

[quote56e50e7a91="Elsie82271"]Just had a thought...how do you claim this on your taxes or do you?[/quote56e50e7a91]
Of course you do, if you want to be legal.

Any freebie site that sends you more than $600 worth of freebies in a calendar year should ask you to complete and return a W9 form. Then at tax time they will send you and the IRS a 1099-MISC form reporting what you've received in the previous year.

If you go nuts and get many thousands of dollars worth of freebies in one year, it can have [b56e50e7a91]significant[/b56e50e7a91] tax implications for you, depending on your individual tax situation. As I recall, the 1099's I got for last year's freebies reduced my Federal refund by about $900, and my state refund by around $200 or so.

Elsie82271

12-07-2007 07:08:23

So what about the money I receive from other people rather than sites????

dmorris68

12-07-2007 07:13:50

[quotea679c6faf1="Elsie82271"]So what about the money I receive from other people rather than sites????[/quotea679c6faf1]
Legally? You are required to report all income no matter the source or amount.

Other than that, we cannot give -- nor should you take -- legal or tax advice on a public forum.

kingclips

03-09-2007 00:10:02

they jsut do offers a lot, like thats all they do