Taxes

I recently found out that if you make over $600, you gotta pay taxes. Does this include the "free stuff" we get from Freepay & Trainn, etc?

I think it's more than $600.

The $600 is for if you receive a gift that's valued at $600 or more you have to mention it when you file.

But yes, if you get a gift from a Free site that is valued at $600 or more then you have to file a W-9 form.

TSJ is correct.

In this thread, Jake clarifies a bit

http//forum.freeipodguide.com/viewtopic.php?t=20509&highlight=taxes[]http//forum.freeipodguide.com/viewtopic.php?t=20509&highlight=taxes

If I'm over 18, but don't have a regular income, will I be taxed for a gift over $600 or doing Amazon MTurking?

just thought id say capitol gains tax sucks.

if your total income for the year is over 7000 dollars then you are required to file taxes. any gift over 600$ in which you are forced to fill out a w-9 will count towards that 7000$ so if you get 2 laptops from Freepay but you are unemployed and really dont make any money you wont have to file your taxes D

[quote32d4efb810="JUNIOR6886"]if your total income for the year is over 7000 dollars then you are required to file taxes. any gift over 600$ in which you are forced to fill out a w-9 will count towards that 7000$ so if you get 2 laptops from Freepay but you are unemployed and really dont make any money you wont have to file your taxes D[/quote32d4efb810]

thanks for that info. I was looking for that and no one was able to give me a straight answer. That means if I don't work and get free stuff and profit from 12dailypro, I don't have report squat? SWEET!!

go to turking.com for tax info. alotta of the people on there that use mturk as a part time job have sent -emails and have gotten responses about it. i can't recall it, because I know i'm going to hit $550 then stop. at the rate i'm going too, it'll be soooon

This doesn't apply to Canadians, right?

[quote25a6d11580="Iloveipods2"]go to turking.com for tax info. alotta of the people on there that use mturk as a part time job have sent -emails and have gotten responses about it. i can't recall it, because I know i'm going to hit $550 then stop. at the rate i'm going too, it'll be soooon[/quote25a6d11580]

how soon? geez

I've made $180 over the past 12 days; $112 over the past 3 days. I'll stop at $599 before the years end.

i know it might sound lame, but making money that fast is getting monotonous. At first I was amazed that I made $23 in 1 hour. Then I got to the point where I made $30 in 1 hour and could make a constant $28-$30 working. If i work 2 more hours i'll be slightly over $550.

yeah it has gotten really really really boring... but i imagine the moment of me spending alll that money and it all seems worth it! 8)

dam it... I got $250 + $250 + $115 + iPod Nano ($200) in less than two weeks...

oih this is bad. why? I worked alot this year plus I made $500 from stock market and $600 from online casino and i have $300 + $250 + $500 that should be getting cleared whenever my refs decide to go green.

if you can make a lot more than 600 bucks on amazon mturk then why not do that? you can cover the taxes pretty easy...

wow i realized I have gone from "guru" to "addict"

If you get a gift thats over $600 then you have to file for taxes. But thats taking into consideration its EACH gift, not all your gifts put together.

hah i jsut realized i've gone from user to guru!

I've just made Super Cheap. It's a night of changes. Anyway, I think I'm gunna start doing a lot more turking and go ahead and pay taxes on it. No biggy.

heh same here... A grand after 8.5% tax is still more than $599!

[quoted9f98dc83d="Strike"]This doesn't apply to Canadians, right?[/quoted9f98dc83d]

Haha, not unless you're paying American taxes for some reason )

There is a ton of misinformation in this thread. You have to report ANY income you make, be that from working at a job (even if you're paid under the table), or from income earned by doing Free Sites and obtaining gifts valued over $600, or any other income (like walking dogs for cash).

Further, I'm not sure where the "if you earned as little as $400 you could be required to pay taxes" come from. The IRS tax tables start at income of $5 to $15, and your tax would be $1.
http//www.irs.gov/pub/irs-pdf/i1040tt.pdf


You can read here to help determine whether you need to report any other income you've earned, (if you're a student) http//www.irs.gov/individuals/students/article/0,,id=96674,00.html

or other forms of income;
http//www.irs.gov/publications/p525/index.html

Now, all that having been said, there are a lot bigger fish to fry for the IRS than anyone getting a laptop from a Free Site, fwiw.

So does that mean if I received increaments of $250 adding up to be $600+ I would have to pay taxes? First paypal fees and now this cry What next?

sorry for the newb question.. but is there a rate at which paypal starts charging fees? i've yet to be charged for anything but i haven't had any amounts larger than 30 dollars sent to me.

[quote5ede7a0697="doylnea"]There is a ton of misinformation in this thread. You have to report ANY income you make, be that from working at a job (even if you're paid under the table), or from income earned by doing Free Sites and obtaining gifts valued over $600, or any other income (like walking dogs for cash).

Further, I'm not sure where the "if you earned as little as $400 you could be required to pay taxes" come from. The IRS tax tables start at income of $5 to $15, and your tax would be $1.
http//www.irs.gov/pub/irs-pdf/i1040tt.pdf


You can read here to help determine whether you need to report any other income you've earned, (if you're a student) http//www.irs.gov/individuals/students/article/0,,id=96674,00.html

or other forms of income;
http//www.irs.gov/publications/p525/index.html

Now, all that having been said, there are a lot bigger fish to fry for the IRS than anyone getting a laptop from a Free Site, fwiw.[/quote5ede7a0697]

LOL at you. ok first off there is a difference between what is TECHNICALLY supposed to be reported and what you atcually must report if you don't wannna end up like this guy lol
http//msnbcmedia.msn.com/j/ap/rism10309081715.vsmall.jpg[" alt=""/img5ede7a0697]
http//www.msnbc.msn.com/id/9400839/

Example If you walked your rich neighbors dog and she ws so grateful she just handed you $10,000 would it technically be correct to report it as income on your taxes? Yes. Could you get away with not reporting it? OF COURSE YOU CAN. Without a W-9 form the IRS doesn't have a clue what gifts you earned..... (tell me im not about to hear the fraud speech)

Im pretty sure even though the IRS has bigger fish to fry than a bunch of freebie seekers they STILL go through our taxes pretty carefully. I made a small error in my taxes that made my expected tax return $100 more than it should've been. You'd think $100 doesnt mean shit to the IRS but they sent me 2 letters about the error and when they sent me my tax return it was the ammount I expected minus the $100 error. roll

you only get charged paypal fees if you have a premier business account (you can receive credit card payments). i finally got my $500 withdraw limit removed yesterday ). send 500 the other day, lifted the limit yesterday and withdrew 650, and hsould be withdrawing another 1300 in the next week or two P. but my income will be well over 7k this year and i fucking hate taxes. at least i will get some back.

[quote18274232f3="JUNIOR6886"][quote18274232f3="doylnea"]my quote[/quote18274232f3]

LOL at you. ok first off there is a difference between what is TECHNICALLY supposed to be reported and what you atcually must report if you don't wannna end up like this guy lol
http//msnbcmedia.msn.com/j/ap/rism10309081715.vsmall.jpg[" alt=""/img18274232f3]
http//www.msnbc.msn.com/id/9400839/

Example If you walked your rich neighbors dog and she ws so grateful she just handed you $10,000 would it technically be correct to report it as income on your taxes? Yes. Could you get away with not reporting it? OF COURSE YOU CAN. Without a W-9 form the IRS doesn't have a clue what gifts you earned..... (tell me im not about to hear the fraud speech)

Im pretty sure even though the IRS has bigger fish to fry than a bunch of freebie seekers they STILL go through our taxes pretty carefully. I made a small error in my taxes that made my expected tax return $100 more than it should've been. You'd think $100 doesnt mean shit to the IRS but they sent me 2 letters about the error and when they sent me my tax return it was the ammount I expected minus the $100 error. roll[/quote18274232f3]

I make it a point to ignore your posts, but you've proved your ignorance enough that I'm going to respond to this one.

First off, the reason Hatch was made a fool was because he attempted to file a return where he got a REFUND in a year when 95% of the US knew that he had earned $1M on Survivor (in addition to his other income) - it was to the IRS's benefit, if only as a deterrant measure, or to make an example of him, to spend a little extra time reviewing his tax return.

Second, I have no idea what your second "paragraph" does, other than further substantiate the points I made in my original post. So thank you I guess?

Your third point is not at all related to the conversation. You reported income to the IRS, therefore they checked your return for errors. The reason the IRS can check everyones tax return and find errors as easily and quickly as they do is because there are check sums built into their forms. (For example (though these line numbers and percentage are not accurate) if lines 23 and 50a have a disparity of 30% then they look more closely at the return and look for errors).

If you were bored enough and looked back at my posts, you'd likely find that 50% or more were telling members and users to follow the law and not fraud <insert entity here>, so you interpreting my original post to suggest that I'm telling people not to report their income is laughable.

[quotea0d9ddf39f="doylnea"][quotea0d9ddf39f="JUNIOR6886"][quotea0d9ddf39f="doylnea"]my quote[/quotea0d9ddf39f]

LOL at you. ok first off there is a difference between what is TECHNICALLY supposed to be reported and what you atcually must report if you don't wannna end up like this guy lol
http//msnbcmedia.msn.com/j/ap/rism10309081715.vsmall.jpg[" alt=""/imga0d9ddf39f]
http//www.msnbc.msn.com/id/9400839/

Example If you walked your rich neighbors dog and she ws so grateful she just handed you $10,000 would it technically be correct to report it as income on your taxes? Yes. Could you get away with not reporting it? OF COURSE YOU CAN. Without a W-9 form the IRS doesn't have a clue what gifts you earned..... (tell me im not about to hear the fraud speech)

Im pretty sure even though the IRS has bigger fish to fry than a bunch of freebie seekers they STILL go through our taxes pretty carefully. I made a small error in my taxes that made my expected tax return $100 more than it should've been. You'd think $100 doesnt mean shit to the IRS but they sent me 2 letters about the error and when they sent me my tax return it was the ammount I expected minus the $100 error. roll[/quotea0d9ddf39f]

I make it a point to ignore your posts, but you've proved your ignorance enough that I'm going to respond to this one.

First off, the reason Hatch was made a fool was because he attempted to file a return where he got a REFUND in a year when 95% of the US knew that he had earned $1M on Survivor (in addition to his other income) - it was to the IRS's benefit, if only as a deterrant measure, or to make an example of him, to spend a little extra time reviewing his tax return.

Second, I have no idea what your second "paragraph" does, other than further substantiate the points I made in my original post. So thank you I guess?

Your third point is not at all related to the conversation. You reported income to the IRS, therefore they checked your return for errors. The reason the IRS can check everyones tax return and find errors as easily and quickly as they do is because there are check sums built into their forms. (For example (though these line numbers and percentage are not accurate) if lines 23 and 50a have a disparity of 30% then they look more closely at the return and look for errors).

If you were bored enough and looked back at my posts, you'd likely find that 50% or more were telling members and users to follow the law and not fraud <insert entity here>, so you interpreting my original post to suggest that I'm telling people not to report their income is laughable.[/quotea0d9ddf39f]

With your quickness to lock threads and your overall bossy attitude you've quickly become my favorite person on the forums as well roll Oh and thanks for flaming me when i didnt even flame you first. Your're really doing a fine job as a trial moderator D

I posted Hatch's picture simply to show someone who got in trouble with the IRS. I wasn't suggestion that the circumstances of his arrest were related to to the topic at hand. (plus the expression on his face is funny as hell) My example with the rich neighbor shows that you only need to report gifts when the person giving you the gifts askes for a W-9 form
although it would be technically correct to report the income you could easily get away with not doing so. My thrid point was simply showing that the IRS can detect some pretty small disparities in your taxes and that you shouldn't think "well its not like im bill gates so the irs wont go over my tax return with too much care"

shrug

[quote303693ef44="lkmwangi"]oih this is bad. why? I worked alot this year plus I made $500 from stock market and $600 from online casino and i have $300 + $250 + $500 that should be getting cleared whenever my refs decide to go green.[/quote303693ef44]
Life sucks, eh?