Taxes

[hainguyen1992]

Do I need to paid taxes for the money I made on this site?

[workin4alivin]

the rule used to be you only pay taxes on anything over $600 md in a year. that's with the irs ... not sure about your state tax however. and i've been outta the work force for a while so ?

[vsyms613]

yes by april 15th you will need to report how much income you have made.

[freepcmoney]

the rule used to be you only pay taxes on anything over $600 md in a year. that's with the irs ... not sure about your state tax however. and i've been outta the work force for a while so ?

I used to do taxes for H&R Block----You only report to the state----what you report on the Federal Return.

[freepcmoney]

yes by april 15th you will need to report how much income you have made.

All income tax reporting is voulentary. I used to do taxes for H&R Block. Anythng under $600 is TOTALLY UP TO YOU as far as reporting it to the IRS----UNLESS you have given the company that paid you, your Social Security number AND they send you a 1099----then you best report that, BECAUSE they have reported it on their tax return. ANNNNNND I always report any intrest earned, BECAUSE BANKS ALWAYS REPORT THAT, no matter HOW MUCH or LITTLE it is. 

[freepcmoney]

Do I need to paid taxes for the money I made on this site?

NO---NOT unless you have made $600 or more AND you have filled out a 1099 Form with FC and then they will be reporting that to the IRS, and FC will also be sending you a 1099, so that you can file it with your tax return.

[charmaine56]

  Do you know that some people do not even pay taxes. under soverign rights you really dont have to pay taxes. With me I get a percentage of what a full retirement would be and I stil have to pay taxes on that. Its good we can have these little bits without paying taxes. With me I will only get a pay out 4 to 6 times a year. So I think its with the people buying lots of offers that will be paying the taxes. Its a many now thing. Pay for it later, it seems.

[jnjmolly]

I do not think so...i don't think you get paid enough to have to report anything!! But you could always ask!

[dbreidenbach]

Okay, I'm going to say this, so please don't shoot the messenger.  The IRS considers all your income to be theirs, regardless of how little it is, or how it was earned (I also do taxes).  Having said that, I wouldn't report income from here at all, as long as you don't receive a 1099 (which I'm sure no one has).  These sites are small potatoes, and I don't think the government is going to come down on someone who earns a mere $30-40/month here.  They have much bigger fish to fry

[gooberhead]

what about 100 a month?

[workin4alivin]

gooberhead, if you have a total of $600 per year or over AND you receive a 1099 from FC you will have to file it with your income tax.  i'm new to FC so i don't know how the yearly amts will go, but i wouldn't worry about it until the year end point ... then if you get a 1099.  when i signed up, i don't recall giving my SS# (which i wouldn't do anyway) ... sooo if you didn't give your SS# then you won't be getting a 1099.

that'ss my theory.

[lennydee]

do we have to pay taxes on themoney e earn from fusioncash? or does fusioncah make sure the taxes arepaid  for it's menbers?

[Stealth3si]

FusionCash will send you a tax form well in advance if you do need to pay taxes on FC earnings.