Tax

[marissa360]

I set my goals too low.  Let me make $600 this year from this site, I will laugh, laugh, laugh.   

[tommonson321]

I set my goals too low.  Let me make $600 this year from this site, I will laugh, laugh, laugh.   

I am shooting for $600 this year and I think that it is a very easy goal to reach.

[ladavia89]

I dont think it is possible to make enough money on FC within a year to reach the limit to where you are required to pay taxes.  You are only held accountable for the total amount of income you receive within the year you are filing for.  I believe that limit is $600.

It's very possible to make $50 per month on here especially if this is the only site that you use.

[InfuseMe1]

if you only plan to reach $600 - maybe you should stop at $599 to avoid receiving a 1099 - then no tax issue... just a thought

[RyanTheBeast]

Ya that is smart, taxes kill you if you reach the $600 mark. U pretty much lose half these days

[surveygrabber]

I plan to make only $600 this year to avoid getting the 1099 form. I'll put $600 as my limit.

[sunwaters]

I think you should stop at $599.00 to avoid 1099 because once you reach $600.00 then that 1099 will hunt you. Penny matters I guess.

[lbryanwf]

It is a 1099 form that the company you got paid from will send you, but only if you were paid $600 in the calendar  year from that company. If you are paid $200 by three different companies in the year, no problem. It has to be $600 from a single company.

[Phx0808]

It is a 1099 form that the company you got paid from will send you, but only if you were paid $600 in the calendar  year from that company. If you are paid $200 by three different companies in the year, no problem. It has to be $600 from a single company.

According to IRS website, you have to report ALL income regardless of amount.
Under $600 from a single company is harder to track and it is unlikely that is a result of any negative consquence will occur  for non-reporting.

[king4cash]

I guess your best bet is to check the irs, your accountant or someone who has filed on previous years.

[mstevenson2]

yes after a certain amount you pay taxes

[Timberlan127]

I never thought about taxes. Will have to keep that in mind. I haven't made enough yet to worry about it but it could be a concern in the future.

[sunwaters]

Did anyone receive 1099 from FC?

[ernica96]

i never make that much money in a year on fusioncash so i guess this doesn't apply to me

[cwortman544]

Accountant in the past has told me that if you earn 600 or over from a single company and don't report it the IRS could audit you because of it.  Then you would have to show paperwork and everything else.  If you have tax write off's or credits that can work for you (eg: stuff you had to use at work, equipment, materials, work clothes, mileage on car) that you had to pay out of pocket for you can easily be reimbursed for what you would be taxed on for that $600 but the last time I got a 1099 a couple of years back even with credits the IRS will still hit you with a hammer and take your money.  It's best to earn a little bit from different companies and not hit that $600 mark in my opinion but do as you must.  Just know there's 2 things in life that are guaranteed we will do, pay taxes and die.