Taxes.

I got my Income Tax forms today in the mail, and last year when I filled them out I used TurboTax 2005 (for the tax year 2004).

Can I still use that for this years tax returns because I started going through it and it kept referring to 2004 and how much I made then?

Also, who owes and who is owed? By the looks of it I should get about $600 back I think. shrug

It might have an update to make it 2005 compatiable, you might need a new one. Not sure. I think I'll be getting back a chunk of change but not sure. I know I don't owe this year. I'll do my taxes soon...

Yeah I just downloaded TaxCut Premium and it says I'm getting $600. D

My old employers must be retarded or something because I moved in April, quit in May and they send my tax papers to my old address but didn't even get my old address correct. shrug

I'm just glad Walgreens forwarded it.

Is anyone else reporting the freebies that they earned?

Does one need to report gifts?

i am still waiting for my form to come in the mail.

[quote36595aa718="theysayjump"]Is anyone else reporting the freebies that they earned?[/quote36595aa718]

Only one I'm reporting is the iBook from IRC...

[quote0950a9bfef="Wolfeman"][quote0950a9bfef="theysayjump"]Is anyone else reporting the freebies that they earned?[/quote0950a9bfef]

Only one I'm reporting is the iBook from IRC...[/quote0950a9bfef]

Same here, but I just sent the voucher today, so I guess it'll be on next year's. Anyone know about money [b0950a9bfef]earned[/b0950a9bfef] in 2005, but [b0950a9bfef]paid out[/b0950a9bfef] in 2006? Example commisions earned in December would be paid out in January, which year do they go in?

I'll only report what I have to.

By that I mean my dad will do them for me, he is a CPA.

[quotebe0c5dad1e="kevxross"][quotebe0c5dad1e="Wolfeman"][quotebe0c5dad1e="theysayjump"]Is anyone else reporting the freebies that they earned?[/quotebe0c5dad1e]

Only one I'm reporting is the iBook from IRC...[/quotebe0c5dad1e]

Same here, but I just sent the voucher today, so I guess it'll be on next year's. Anyone know about money [bbe0c5dad1e]earned[/bbe0c5dad1e] in 2005, but [bbe0c5dad1e]paid out[/bbe0c5dad1e] in 2006? Example commisions earned in December would be paid out in January, which year do they go in?[/quotebe0c5dad1e]

2006. If its a check its whatever the date on the check is.

[quotee085f37ccc="stoogepid"][quotee085f37ccc="kevxross"][quotee085f37ccc="Wolfeman"][quotee085f37ccc="theysayjump"]Is anyone else reporting the freebies that they earned?[/quotee085f37ccc]

Only one I'm reporting is the iBook from IRC...[/quotee085f37ccc]

Same here, but I just sent the voucher today, so I guess it'll be on next year's. Anyone know about money [be085f37ccc]earned[/be085f37ccc] in 2005, but [be085f37ccc]paid out[/be085f37ccc] in 2006? Example commisions earned in December would be paid out in January, which year do they go in?[/quotee085f37ccc]

2006. If its a check its whatever the date on the check is.[/quotee085f37ccc]

But this should all be in your W2 you get from your employer...

depending on how much u make income, and how much u got in freebies, determines if u have to declare it....

Well you have to declare anything you make and freebies count as income as do all gifts...

Pssh..I don't do that.

Who honestly reports what they get for Christmas?

No one and I don't plan to report freebies except for the iBook...

[quote1bf6c2cb28="Wolfeman"][quote1bf6c2cb28="stoogepid"][quote1bf6c2cb28="kevxross"][quote1bf6c2cb28="Wolfeman"][quote1bf6c2cb28="theysayjump"]Is anyone else reporting the freebies that they earned?[/quote1bf6c2cb28]

Only one I'm reporting is the iBook from IRC...[/quote1bf6c2cb28]

Same here, but I just sent the voucher today, so I guess it'll be on next year's. Anyone know about money [b1bf6c2cb28]earned[/b1bf6c2cb28] in 2005, but [b1bf6c2cb28]paid out[/b1bf6c2cb28] in 2006? Example commisions earned in December would be paid out in January, which year do they go in?[/quote1bf6c2cb28]

2006. If its a check its whatever the date on the check is.[/quote1bf6c2cb28]

But this should all be in your W2 you get from your employer...[/quote1bf6c2cb28]

I'm not talkin about an employer I'm talking about commisions earned from internet marketing. Either way I guess it was sort've a dumb question, but I'm all clear now.

Ohhhh. It wasn't a stupid question. Its always when you get paid...

Here's a good deal on TaxCut Deluxe from Staples[=http//forum.freeipodguide.com/viewtopic.php?p=303796#303796]Here's a good deal on TaxCut Deluxe from Staples

Costs $15, but you get a $15 gift card to Staples.

I got a copy of this

http//www.taxact.com/

It lets you E-file your Federal Tax Return for Free and your State Tax Return at a cost of $8.

[quote282727e350="stoogepid"]2006. If its a check its whatever the date on the check is.[/quote282727e350]

no. any money you RECEIVE in 2005 should be reported on your 2005 return... so if a check is dated 12/31/05 and i receive it on jan 3rd, i dont have to report it on 2005.

Can we add a poll to see how many people are reporting their freebies that aren't required.

Poll added.

Only goody goodies are. F the govenment...

I'm not really paying taxes D

I don't really think that the last three were really needed...

O rly?

Well I don't really think that that really comment was really needed.

I'm just saying that it will hurt an informative poll. I just wanted to know how many people paid taxes on freebies. Just a suggestion, not a critiziment.

[quote5c30958f87="theysayjump"]O rly?

Well I don't really think that that really comment was really needed.[/quote5c30958f87]

LOL. You win.

[quote24a2963706="Daggoth"]I'm just saying that it will hurt an informative poll. I just wanted to know how many people paid taxes on freebies. Just a suggestion, not a critiziment.[/quote24a2963706]

Criticism?

[quote102a4aa843="Admin"][quote102a4aa843="stoogepid"]2006. If its a check its whatever the date on the check is.[/quote102a4aa843]

no. any money you RECEIVE in 2005 should be reported on your 2005 return... so if a check is dated 12/31/05 and i receive it on jan 3rd, i dont have to report it on 2005.[/quote102a4aa843]

Read the previous person's post. He said that he earned in 2005 paid in 2006. So it is reported in 2006.

[quote102a4aa843="kevxross"]
Same here, but I just sent the voucher today, so I guess it'll be on next year's. Anyone know about money [b102a4aa843]earned[/b102a4aa843] in 2005, but [b102a4aa843]paid out[/b102a4aa843] in 2006? Example commisions earned in December would be paid out in January, which year do they go in?[/quote102a4aa843]

Im pretty sure its whatever date the check is. If it weren't then I can just say the check was dated 12/31/02 but I didnt get it until 12/31/05. So I get to report it 2006? Granted the check would be invalid by then, but the IRS doesnt care when you receive a check and it doesnt know. It only knows when the check is written.

So in his case. Its just whenever you are paid. That is the year you report it for.

[quote7682ec2b22="theysayjump"][quote7682ec2b22="Daggoth"]I'm just saying that it will hurt an informative poll. I just wanted to know how many people paid taxes on freebies. Just a suggestion, not a critiziment.[/quote7682ec2b22]

Criticism?[/quote7682ec2b22]

Don't correct spelling on a forum pla

[quote4317efe43c="Daggoth"][quote4317efe43c="theysayjump"][quote4317efe43c="Daggoth"]I'm just saying that it will hurt an informative poll. I just wanted to know how many people paid taxes on freebies. Just a suggestion, not a critiziment.[/quote4317efe43c]

Criticism?[/quote4317efe43c]

Don't correct spelling on a forum pla[/quote4317efe43c]

What a peculiar request. http//forum.freeipodguide.com/smilies_mod/upload/c791773df4d421ae16ec15be17048000.gif[" alt=""/img4317efe43c]

[quote56d54da48b="theysayjump"][quote56d54da48b="Daggoth"][quote56d54da48b="theysayjump"][quote56d54da48b="Daggoth"]I'm just saying that it will hurt an informative poll. I just wanted to know how many people paid taxes on freebies. Just a suggestion, not a critiziment.[/quote56d54da48b]

Criticism?[/quote56d54da48b]

Don't correct spelling on a forum pla[/quote56d54da48b]

What a peculiar request. http//forum.freeipodguide.com/smilies_mod/upload/c791773df4d421ae16ec15be17048000.gif[" alt=""/img56d54da48b][/quote56d54da48b]

Explain.

[quotebaf35cb07e="Daggoth"][quotebaf35cb07e="theysayjump"][quotebaf35cb07e="Daggoth"][quotebaf35cb07e="theysayjump"][quotebaf35cb07e="Daggoth"]I'm just saying that it will hurt an informative poll. I just wanted to know how many people paid taxes on freebies. Just a suggestion, not a critiziment.[/quotebaf35cb07e]

Criticism?[/quotebaf35cb07e]

Don't correct spelling on a forum pla[/quotebaf35cb07e]

What a peculiar request. http//forum.freeipodguide.com/smilies_mod/upload/c791773df4d421ae16ec15be17048000.gif[" alt=""/imgbaf35cb07e][/quotebaf35cb07e]

Explain.[/quotebaf35cb07e]

Condone.

Where on the 1040 do we report the extra income? I asked about this in DIY too, but maybe could get some helpful insight here. I'm confused.

I for one dont plan to report any gifts I earned except for my freepay Laptops and My Ibook from IRC. And thats only because I filled out a w-9 for them... I heard the cost of my offers can be deducted from the gift
Can someone shed some light on if this is true or not. Can we deduct the cost of REFS P Is there anyway out of giving a shit ton of freebie money to uncle Sam!?!?!

BTW I got $600 back last year. This year i made more money and im reporting almsot 2000 worth of free gifts so im not gonna be too hopeful. x

[quotebd61be94a6="JUNIOR6886"]I for one dont plan to report any gifts I earned except for my freepay Laptops and My Ibook from IRC. And thats only because I filled out a w-9 for them... I heard the cost of my offers can be deducted from the gift
Can someone shed some light on if this is true or not. Can we deduct the cost of REFS P Is there anyway out of giving a shit ton of freebie money to uncle Sam!?!?!

BTW I got $600 back last year. This year i made more money and im reporting almsot 2000 worth of free gifts so im not gonna be too hopeful. x[/quotebd61be94a6]

Yes sir, you can deduct the cost of the offers but I'm not going to because I don't want to raise any red flags...

[quote29914852a5="Wolfeman"]
Yes sir, you can deduct the cost of the offers but I'm not going to because I don't want to raise any red flags...[/quote29914852a5]

whats the worst that could happen? An IRS audit? Man i ain't "scurred"
of the IRS lol

Seriously though i don't think anything would go wrong as long as you dont make outlandish claims like "Although i recieved a $1000 Ibook I kept the trial of serenity and ive paid about 1000 to them so you arent getting shit from me!!' lol

finding proof that i paid for certain trials may be more trouble than its worth though. Im assuming we would have to have some kind of proof of payment for the trials in order for it to be deducted...

Where about on the form(s) is it that you're reporting your laptops Junior?

lol Im not even sure yet. I just got my tax stuff from my job today...
I'll have to ask my sister (shes an accountant) but i know im gonna have to report it SOMEWHERE

One thing that I've always been unclear about is how much extra income we report for the freebies we've received. For example, for the IRC Acer Laptop, on the site, it says a value of $899, but the actual retail value is only like $699. What should I report? Since I had to file a W-9 for this, will IRC report the value of the gift as $899 or its actual retail value?

[quoted0cb18adda="bigchan2k"]One thing that I've always been unclear about is how much extra income we report for the freebies we've received. For example, for the IRC Acer Laptop, on the site, it says a value of $899, but the actual retail value is only like $699. What should I report? Since I had to file a W-9 for this, will IRC report the value of the gift as $899 or its actual retail value?[/quoted0cb18adda]

I'm assuming it would be how much they paid for it.

I don't think I earn enough to pay for taxes. With the amount I pay for college, I don't have any money to pay taxes with.

You still have to file...

Well, I guess I am going to wait until February to file my taxes. On scam.com people posted that they contacted NUITech, and they are going to be sending us out 1099 forms at the end of January.

Ah ok. Good looking out phoebe...

They'll probably send us the 1099-MISC forms. Here is some more info. on how to report this taken from irs.gov

[b5f8fe22b31]I received a Form 1099-MISC instead of a Form W-2. I'm not self-employed, I do not have a business. How do I report this income?[/b5f8fe22b31]

If payment for services you provided is listed in box 7 of Form 1099-MISC (PDF), you are being treated as a self-employed worker, also referred to as an independent contractor. You do not necessarily have to "have a business," but simply perform services as a nonemployee to have your compensation treated this way. The payer has determined that an employer-employee relationship does not exist in your case. That determination is complex, but is essentially made by examining the right to control how, when, and where you perform those services. It is not based on how you are paid, how often you are paid, nor whether you work part-time or full-time. There are three basic areas that are relevant to determine employment status

behavioral control,
financial control, and
relationship of the parties
For more information on employer-employee relationships, refer to Chapter 2 of Publication 15 , Circular E, Employer's Tax Guide and Chapter 2 of Publication 15-A (PDF), Employer's Supplemental Tax Guide. If you think that you were, or are, an employee and you would like the IRS to issue a determination, you may submit Form SS-8 (PDF), Determination of Worker Status for Purposes of Federal Employment Taxes and Income Tax Withholding.

Unless you think you were an employee, you report your nonemployee compensation on Form 1040, Schedule C (PDF), Profit or Loss from Business (Sole Proprietorship), or Form 1040, Schedule C-EZ (PDF), Net Profit from Business. You also need to complete Form 1040, Schedule SE (PDF), Self-Employment Tax, and pay self-employment tax on your net earnings from self-employment, if you had net earnings from self-employment of $400 or more. This is the manner by which self-employed persons pay into the social security and Medicare trust funds. Employees pay these payroll taxes, as well as income tax withholding, through deductions from their paychecks. Generally, there are no tax withholdings on self-employment income. However, you may be subject to the requirement to make quarterly estimated tax payments. If you did not make estimated tax payments, you may be charged an underpayment of estimated tax penalty.

[quote2905fd7cc9="phoebe7"]Well, I guess I am going to wait until February to file my taxes. On scam.com people posted that they contacted NUITech, and they are going to be sending us out 1099 forms at the end of January.[/quote2905fd7cc9]

pardon my ignorance but whats the benefit of waiting till feburary.? ?

[quotece6e48ede7="phoebe7"]Well, I guess I am going to wait until February to file my taxes. On scam.com people posted that they contacted NUITech, [bce6e48ede7]and they are going to be sending us out 1099 forms at the end of January[/bce6e48ede7].[/quotece6e48ede7]

wink

Theres no rush to file either...

[quote4c8b09e667="Wolfeman"]You still have to file...[/quote4c8b09e667]
Right, I just don't handle my taxes. That's what the parents are for.