Tax Time Question?
By cadguy08
@cadguy08 (1224)
Canada
March 5, 2011 10:00pm CST
Hi mylotters here in Canada and USA I had a question about surveys , PTC and gigs such as fiverr Do you include those earnings on your income tax return. Because some are Payapl and some are sent to our address so kinda doubt what should I do ? I know if you reach $600/yr. on your earnings in one site you should file it but I'm still in doubt so Please let me know thanks.
2 responses
@MakingCents (743)
•
6 Mar 11
You are legally supposed to account for ALL income. That means that if a site send syou 5 cents, technically you should report it. HOwever not until a specific sites sends you $600 (or more) will they give you a 1099. If you receive a 1099 from a site you MUST include it or you will run the risk of an audit.
@cadguy08 (1224)
• Canada
6 Mar 11
That's the problem with our Govt here they will see you not filing the right amount, My Wife just got a letter from them about missing something like $238 because she was on EI last time and got a job & still didn't tell them that she worked for one week and she still get a week pay for EI. Then they sent her a letter telling her to repay or else you are toasted. It happened long time ago year of 2006 and still they harass you it's really very annoying Govt. we had .
@cadguy08 (1224)
• Canada
6 Mar 11
That's the problem with our Govt here they will see you not filing the right amount, My Wife just got a letter from them about missing something like $238 because she was on EI last time and got a job & still didn't tell them that she worked for one week and she still get a week pay for EI. Then they sent her a letter telling her to repay or else you are toasted. It happened long time ago year of 2006 and still they harass you it's really very annoying Govt. we had .
@MakingCents (743)
•
6 Mar 11
NOt sure about Canadian law, but I know under US law if you make a good effort to show that you reported your income you should be fine. I would suggest at minimum looking at your paypal statement from the year and reporting that. Many people don't report ALL of their income, so I can't tell you to do that, but that's what many people do.
