tax time and fusion cash

[jmc1070]

with tax time fast approaching, can anyone tell me how to handle the money I make with fusion cash? Do I need to claim it on my taxes?

[dreamyxo]

Did you make over $500?

[sharonpatri55]

Good question! I was wondering about the very same thing and will definitely look forward to the feedback.

[mythociate]

Did you make over $500?

What I think dreamyxo was saying---not unless you made more than $500 (this fiscal year).

[hawkeye3210]

All income is reportable on your tax return regardless of how much you make.

[jmc1070]

No, I did not make $500. I think I will ask my tax preparer how to handle the cash earned here.

[skrogman]

If you make $600 in one calendar year the site Admin will send you a 1099 with that corresponding cash-out.  At that point, the income is taxable.

[moon29]

with any place online that you make money if you earn enough they will send you the appropriate paper work so that you can claim it on your taxes.  i believe that the amount is 600.  as a stay at home mom i strictly earn my pay from online work and so i have to claim it as a self employed person because i earn around 6000 a year.  it only comes out to around $800 a year that i have to pay in not too bad a lot less then what you would think.

[mawhite63]

with any place online that you make money if you earn enough they will send you the appropriate paper work so that you can claim it on your taxes.  i believe that the amount is 600.  as a stay at home mom i strictly earn my pay from online work and so i have to claim it as a self employed person because i earn around 6000 a year.  it only comes out to around $800 a year that i have to pay in not too bad a lot less then what you would think.

@moon29 do you do estimated quarterly payments, or just pay it all at once when you file your taxes?

[mythociate]

All income is reportable on your tax return regardless of how much you make.

That makes sense, just like reporting all paper-money on TrackDollar (or Where's George; but I like TrackDollar better, one less letter to write ... and I only mark with handwriting)

[sak4kat]

$500 isn't an unattainable # to get to with one site - however I'm registered with 100+ sites and getting $500 for each one is impossible for me.  In past years I've had my tax preparer report - but since each company is own it's own as far as providing 1099's I didn't have to pay anything in.  I learned years ago to keep track of all money coming and going.  Even gift cards these days.  Good Luck

[wadee1958]

with tax time fast approaching, can anyone tell me how to handle the money I make with fusion cash? Do I need to claim it on my taxes?

i hate tax season. i never get a refund back.

[Falconer02]

If you make $600 in one calendar year the site Admin will send you a 1099 with that corresponding cash-out.  At that point, the income is taxable.

This is correct. It's unfortunately in your best interest to not get the 1099 because once it becomes taxable, you'll lose a significant percentage of the money you made.

[mythociate]

Wouldn't it be better for everybody if the ads & ad-money were considered a 'gift'?

I mean; the advertisers could 'write it off' (if they're that greedy), and it's FREE MONEY!

(unless the government taxes GIFTS ... and gift-receivers, are THEY 'represented'? I don't think so ... taxation-without-representation? Do you hear the fife-&-drums a`tuning?)

[skinnygwenny]

If FC send you a W2 form I think you should file, but if you do not receive a W2 form you shouldn't worry about filing.