Paying Taxes fro online earnings?
By desteny114
@desteny114 (886)
United States
August 6, 2009 9:57am CST
I don’t know if we have to pay Taxes for our online income. So far I have only made 5 dollars that was already paid to me by paypal. But I have no idea how much I will make a month so far I think it might be 10 to 20 dollars a month. I wish and hope that it is more but I guess I have to see if I find a way to make more.
But since I have no idea how this works I will like to know if we have to report this? Do we have to pay taxes? Like I wrote I live in the US I don’t know if there is a difference if you live in any other country. If I do have to report it can you tell me how.
3 responses
@dlr297 (5409)
• United States
6 Aug 09
I think that here in the US if you make over 600 dollars in a program for the year they will send you a tax form to fill out, and they will report that income to the tax people. so you will get the papers from them at the end of the year like you do from a regular job, so you will know what to claim.
I could be wrong but i believe that is how it works.
1 person likes this
@desteny114 (886)
• United States
6 Aug 09
I have not heard about that but it would be better instead of guessing or having to look for every single 2 dollar or more earned. I have heard that you have to report you income when it more than 50 or 100 but I am not sure about that. Thank you.
@desteny114 (886)
• United States
6 Aug 09
The thing is that if I have to do the long process I will get charged more money to do my taxes and I rather not since I am going to be wasting more money on do in my taxes than what I might earn online. I normally do it the fast and easy way by just using my W2 and I don’t report house or bills payments even if I know that I am going to get a little bit more. It is just that they charge me more than what I am going to get back by adding things like that. But I also don’t want to have any problems by not reporting 5 dollars. Thank you for you response.
@benny128 (3615)
•
6 Aug 09
well any income you earn you legally need to advise your tax office of it. As might also affect other benefits you receive.
Though whether you do or not is a different matter lol.
I personally if I was only earning a small amount I wouldnt advise them of a few dollars as its not really worth it.
Though here in the uk I have my own mlm that is bringing in more than a full time income so I have to declare it as the fines and penalties for not declaring income here in uk is quite harsh
so personally if you are only making a few dollars then I wouldnt as its not really worth the time it will take to report your earnings and am sure the tax office aint really concerned about a few dollars here and there.
1 person likes this
@desteny114 (886)
• United States
6 Aug 09
The main reason why I want to know is that I normally do my taxes just with my w2 forms and I don’t do it the long way by reporting everything I spent on even if I can get a little more back. I do it the short way because it those not cost that much I know it might be better to get a little more but it those take more time and money so I rather not. But I was told one by a friend that if it was less than 50 dollars a month I did not have to report it. I just want to make sure so I won’t have any problems and also so I can see if it’s really worth making a little money online. Thank you.
