Taxes and reporting freebie trading - FAQ - Page 8 - FreeLunchRoom - The #1 Freebie Trading Forum on the Internet!

SpeedyGreener · 02-07-2008, 09:31 PM

I have just started, today in fact, and this was a question I had. Everyone knows, the IRS doesn't miss anything. Thank you for taking the time to share all of this information with us.

jj

storm_chaser_rocks · 02-07-2008, 10:18 PM

I'm sorry if I missed this in your post. I was wondering, do you have to pay money if you're just going green for someone else, or is it just when you're actually getting awarded money by a company?

Stinger31 · 02-09-2008, 03:32 AM

Quote:

Originally Posted by storm_chaser_rocks

I'm sorry if I missed this in your post. I was wondering, do you have to pay money if you're just going green for someone else, or is it just when you're actually getting awarded money by a company?

Yes, a payment from someone else for going green would need to be included in your income.

Drspectrum0_0 · 02-09-2008, 07:58 AM

I was curious about reporting freebie trades in my income tax returns.

Keleka · 02-12-2008, 03:25 PM

Helpful information. Thank you for taking the time to post this thread.

bdloftus24 · 02-13-2008, 06:31 AM

This was perfect. Thanks. Not to mention, you're a Mets fan which is bonus!! :)

gladysb · 02-13-2008, 07:23 AM

I have been wondering about this. This was very helpful. Thanks for writing it all out!

TMay · 02-13-2008, 09:01 AM

Wouldn't it be just as simple to deduct say 16% from your weekly hirings and put it to the side and pay your tax when it comes time. Just seems this would be the simplest and safest way.

FisherPerson · 02-13-2008, 11:58 AM

Quote:

Originally Posted by ldybug1752

This needs to be a sticky. This is great information. Thank you for taking the time to make this thread!

Thank you very much. I don't need it this year but hope to next!!

madmoney2008 · 02-13-2008, 12:49 PM

This was very enlightening. I am a newbie here and up until I read your post I thought I would be free and clear from paying taxes. I thought since the amounts I would be paid are so small and spread out between so many different people I would not have to report them to the IRS. Thanks you saved me from owing the IRS AGAIN. Those penalties and interest are a killer. great thread

02-09-2008, 07:58 AM	#74
Drspectrum0_0 Drspectrum0_0 is Looking over scary offers. User is Offline TR: 6 / 100% Status: Lunchables Join Date: Dec 2007 Location: Clinton Township, Michigan Posts: 12	Thanks for the info Stinger31 I was curious about reporting freebie trades in my income tax returns.

02-12-2008, 03:25 PM	#75
Keleka Keleka is enjoying FreeLunchRoom! User is Offline TR: 54 / 100% Status: Paper or Plastic? Join Date: Nov 2007 Location: Las Vegas, Nevada - Project PayDay Mentor Posts: 432	Helpful information. Thank you for taking the time to post this thread. __________________ [COLOR=Black][SIZE=3][B]Keleka ~~ [COLOR=Red]Need Help???[/COLOR] [COLOR=Blue]Step-by-Step Instructions from a PPD Mentor.[/COLOR] [COLOR=Magenta]I am a Honest and Patient Trader.[/COLOR] [COLOR=DeepSkyBlue]I'm FLR2/PayPal Verified[/COLOR]. [URL="http://www.freelunchroom.com/board/itrader.php?u=67609"]View my Trade Comments[/URL]. [URL="http://www.freelunchroom.com/board/paying-referrals/176440-need-help-step-step-guide-honest-patient-ppd-mentor-250-promotion-46.html#post989594"]Let's Start HERE[/URL].[/B][/SIZE][/COLOR]

02-13-2008, 06:31 AM	#76
bdloftus24 bdloftus24 is enjoying FreeLunchRoom! User is Offline TR: 301 / 100% Status: Golden Lunchbag Join Date: May 2007 Location: Dallas, Georgia Posts: 3,839	This was perfect. Thanks. Not to mention, you're a Mets fan which is bonus!! :) __________________ I'VE EARNED $15,000 SINCE JAN! ASK ME HOW TO DO THE SAME!! Check out my Trade Thread. Click HERE!! I have a TR of +289!! Learn from a FLR Verified Trader!!

02-13-2008, 09:01 AM	#78
TMay TMay is enjoying FreeLunchRoom! User is Offline TR: 0 / 0% Status: Lunchables Join Date: Feb 2008 Location: Florida Posts: 3	Paying Irs Wouldn't it be just as simple to deduct say 16% from your weekly hirings and put it to the side and pay your tax when it comes time. Just seems this would be the simplest and safest way.

02-13-2008, 12:49 PM	#80
madmoney2008 madmoney2008 is enjoying FreeLunchRoom! User is Offline TR: 4 / 100% Status: Lunchables Join Date: Feb 2008 Posts: 9	This was very enlightening. I am a newbie here and up until I read your post I thought I would be free and clear from paying taxes. I thought since the amounts I would be paid are so small and spread out between so many different people I would not have to report them to the IRS. Thanks you saved me from owing the IRS AGAIN. Those penalties and interest are a killer. great thread __________________ I'm a new eager beaver.I'm mad about money and I am eager to learn and eager to earn!!!.

02-07-2008, 09:31 PM	#71
SpeedyGreener SpeedyGreener is enjoying FreeLunchRoom! User is Offline TR: 2 / 100% Status: Lunchables Join Date: Feb 2008 Posts: 8	I have just started, today in fact, and this was a question I had. Everyone knows, the IRS doesn't miss anything. Thank you for taking the time to share all of this information with us. jj

02-07-2008, 10:18 PM	#72
storm_chaser_rocks storm_chaser_rocks is enjoying FreeLunchRoom! User is Offline TR: 3 / 100% Status: Brown Paper Bag Join Date: Feb 2008 Location: Abbotsford, BC Posts: 34	I'm sorry if I missed this in your post. I was wondering, do you have to pay money if you're just going green for someone else, or is it just when you're actually getting awarded money by a company?

02-13-2008, 07:23 AM	#77
gladysb gladysb is enjoying FreeLunchRoom! User is Offline TR: 14 / 100% Status: Paper or Plastic? Join Date: Nov 2007 Location: new york soon to be arizona Posts: 221	I have been wondering about this. This was very helpful. Thanks for writing it all out!

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