Do we need to pay taxes???????

[hawkeye3210]

I believe they changed it to $400.00 this year, which used to be $600.00 If I'm not mistaken PayPal is if you withdrawal more than $400.00 a year they will turn it in. Just something we all need to learn more about cause they change so many things each year. My mother completes other people's taxes so I leave it all up to her when she completes mine. She can keep up on all those changes better than I can.

You have always had to pay self employment tax if you made more than $400 in a year from self-employment.  The $600 figure has to do with the filing of 1099's, which is something different.  None of that has changed.

[kparker46350]

if you read tax laws you are to report any income you have. including if you have a garage sale or if you sell your stuff on eBay that is all income. if you are unsure keep track of you stuff and ask a tax preparer when you do your taxes.

[ricky981]

Yes you have to pay taxes if you make a certain amount of money.

now i can see if the gov. where giving out money beside that's not going to happen these guy are giving you money which is cool they are not the greedy kind.

[natalie2]

i hope not i dnt want to

[dsawan]

Hi, I was a tax preparer for 2 years so I know you would. You have to put it under other income on your federal 1040 or fed return. Then it will transfer to the state you're in if you file online or you could do manually also.

[rdan370]

Anything under $300 from any one source you can go without reporting.

[hawkeye3210]

Anything under $300 from any one source you can go without reporting.

Not true. 

[fusion61]

I'm not worried about paying taxes on this.

[edominik]

When it comes down to it, this is typically considered incidental income.  Like having a garage sale, etc.   Now, if reaches a certain threshold, and you are 1099'd, it is expected to be taxed.  (20yrs experience in finance) 

[Stealth3si]

Yes if you make over a certain amount on FC.

[deeguiser]

i've been wondering the same thing

[SurveyMack10]

Hi, I was a tax preparer for 2 years so I know you would. You have to put it under other income on your federal 1040 or fed return. Then it will transfer to the state you're in if you file online or you could do manually also.

Actually you don't have to unless you reach a certain amount

[dsawan]

what he said

Anything under $300 from any one source you can go without reporting.

of course you can heck with the IRS web and phone

[freepcmoney]

Everything that you report on your taxes is voulentarily reported by you. The fact that you even file taxes is voulenteered by you. NOW---That being said----Keep in mind that IF you work and they send you a W2 OR a 1099 at the end of the year, then they have already reported that amount to the IRS on your behalf. Sooooo when and IF you choose to file your taxes, then you better report everything that has already been reportd to them.

Fushion Cash will REQUIRE you to fill out tax information papers after you earn $600. However I do not know IF that is $600 TOTAL, or $600 in any given year. I think it should be $600 in any given year, but you can check with support on that.

My question to you is---IF you find a penny on the street and pick it up, are you going to report that on your taxes?? I know that I AM NOT!! The dammed government would just take and give it to some foreign government, and illegal alien, some lazy *bleep* who won't work, or some Washington burearecrat!!
    

[jbcratchet]

It depends on how much money you earn.