I AM 17 YEARS OLD AND LIVE IN OHIO . RECENTLY MY FRIEND TOLD ME SHE TAKES PAID SURVEYS FOR EXTRA MONEY . SO , I THOUGHT THAT I WOULD TRY . NOW , I MAKE BETWEEN $100 -$5,OOO A MONTH FROM EACH SITE THAT I SIGNED UP FOR TAKING PAID SURVEYS , READING EMAILS , AND ' SURFING THE WEB ' . I DON'T WANT TO GET INTO TROUBLE FROM THE GOVERNMENT BY NOT PAYING TAXES ; WHAT SHOULD I DO ? I DON'T REALLY NEED THE MONEY , MOST OF IT I GIVE TO MY CHURCH , CHARITIES , AND MY GRANDPARENTS TO HELP WITH MEDICAL BILLS . I ONLY KEEP A LITTLE EACH MONTH TO GO SHOPPING AND TOWARDS MY WEDDING FUND , SO WHEN MY FIANCE COMES HOME FROM THE MILITARY IN 2 YEARS WE CAN GET MARRIED . WHAT WOULD BE THE BEST THING FOR ME TO DO SINCE I AM ONLY 17 YEARS OLD ? PLEASE HELP ME !!!
2007-08-07 17:20:58 · 5 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
Hate to tell you this but if this is legitimate (which I really really have my doubts about), you are not only subject to regular federal income tax (and state tax), but also self-employment tax, which is 15.3% of 92.35% of a net Schedule C profit, which the money that you are making from the sites would be. You need to keep track of your income (which would be the payments you receive), and any expenses you incurred in earning those monies. But I sincerely doubt that this is real.
2007-08-07 17:44:05 · answer #1 · answered by Anonymous · 0⤊ 0⤋
You need to keep good records of what you are paid, and any associated expenses. All of this needs to be reported on a tax form 1040 Schedule C, and filed each year, if your total for the year is over $400.
2007-08-08 10:20:16 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
If you're making $5,000 a month, you damn sure better be paying taxes! Assuming that you are a dependent, your filing requirement amount for 2007 is $5,350.
However, I HIGHLY doubt that you're pulling $5,000 a month doing what you claim you are doing. Nobody makes that kind of money doing surveys or reading e-mails unless they're involved in some sort of SCAM.
2007-08-08 00:31:04 · answer #3 · answered by Bostonian In MO 7 · 1⤊ 0⤋
People who type in all caps are annoying. You are a liar.
2007-08-08 00:50:33 · answer #4 · answered by Charles 2 · 0⤊ 0⤋
put the money under your pillow so the tooth fairy can help more children who make up stories like this..............
2007-08-08 00:24:57 · answer #5 · answered by Anonymous · 0⤊ 0⤋