So I don't have to file tax if I make less than $500 (or $600?) within a year in CPA...?

piggyy · 10-11-2011, 08:39 PM

is that correct? please correct me if I'm wrong.

I contacted my AM but he doesn't really know about that. Since I've been seeing many "masters" (people who are really good in CPA) here at warriorforum... just wondering if anyone knows anything about this.

From what I've heard, if you makes less than $500 (or $600) within a year in a CPA, I don't have to file tax, right?

jeffrey73 · 10-11-2011, 08:41 PM

That is a question for a CPA ( Certified Public Accountant ). No pun intended.. lol

ChrisBa · 10-12-2011, 06:55 AM

Please seek an accountant.. this varies by where you are located and not everyone on here will know for sure, last thing you need to do is run into problems with the tax man!

pacelattin · 10-12-2011, 08:17 AM

No, that is incorrect.

In the United States you have to file taxes on all income, and more importantly the company that paid you will be sending information end of the year to the IRS that they paid you.

The exception is if you made less than $9,300 in wages (approximately)

However, in your case you need to file taxes and you are most likely being paid and considered self-employed. If your total amount of income that you received is over $400 in that case, you need to file taxes.

The good news is that there are cheap tax programs that will help you file.

Quote:

Originally Posted by piggyy

is that correct? please correct me if I'm wrong.

I contacted my AM but he doesn't really know about that. Since I've been seeing many "masters" (people who are really good in CPA) here at warriorforum... just wondering if anyone knows anything about this.

From what I've heard, if you makes less than $500 (or $600) within a year in a CPA, I don't have to file tax, right?

jwmann2 · 10-12-2011, 11:50 AM

Going to be my first year of having to do this as well. I dread it, so much red tape and confusion. Thats the idea, make it confusing for people so they can't find ways around it.

pacelattin · 10-12-2011, 11:52 AM

Seriously, just use HR Blocks free tax system. For most people it's a 10 minute thing. Keep all your forms you get, and you'll have it done in a SECOND.

Quote:

Originally Posted by jwmann2

Going to be my first year of having to do this as well. I dread it, so much red tape and confusion. Thats the idea, make it confusing for people so they can't find ways around it.

kindsvater · 10-13-2011, 10:06 AM

Quote:

Originally Posted by pacelattin

Seriously, just use HR Blocks free tax system. For most people it's a 10 minute thing. Keep all your forms you get, and you'll have it done in a SECOND.

Yep - if you want to throw your money away overpaying your taxes.

Otherwise, get a few tax strategies. Yes, it will take you more than a SECOND, but it's your money. Why work hard to make it if you're just going to flush it?

.

Kenster · 10-13-2011, 10:12 AM

You need to report all income if you are from the US. There are different thresholds for 1099 etc but that's why some companies require an EIN or SS before distributing income.

Azarna · 10-13-2011, 01:58 PM

You certainly do have to FILE your earnings to the taxman.

Whether you have to pay tax on it will depend on how much you are earning from other sources.

You pay tax on all earnings over the current threshold, no matter what the source of it.

Same for US and UK and no doubt many other countries.

StudFalian · 10-13-2011, 02:42 PM

You should file, you wont' get taxed though.

pacelattin · 10-13-2011, 03:00 PM

Were talking about a guy who says he makes less than $500

Re: Other people posts, please read what I wrote above - it gives the requirements for filing. No, you are not required to file for everything...

@StudFallen: there is self-employment tax. Which is why starting a corp is always smart.

Quote:

Originally Posted by kindsvater

Yep - if you want to throw your money away overpaying your taxes.

Otherwise, get a few tax strategies. Yes, it will take you more than a SECOND, but it's your money. Why work hard to make it if you're just going to flush it?

.

ezpay4me · 10-14-2011, 03:32 AM

I don't think so, I have made over $12,000 this past year with Neverblue Ads and I haven't heard of anything related to filing taxes...So for as long as no one bothers you, your good to go.

Regards,

badboy_Nick · 10-14-2011, 06:08 AM

Ask an accountant, best to be safe than sorry ... plus you don't want the IRS crawling up your back. Not a pretty sight

Nick

jeffrey73 · 10-14-2011, 08:14 AM

Are you kidding? lol

Quote:

Originally Posted by ezpay4me

I don't think so, I have made over $12,000 this past year with Neverblue Ads and I haven't heard of anything related to filing taxes...So for as long as no one bothers you, your good to go.

Regards,

Teravel · 10-14-2011, 10:05 AM

Instead of asking Legal questions in a Marketing forum, go to Google and do a search for Tax Lawyers in your local area. Talk with that lawyer, and ignore the non-legal advice here in the Marketing Forum.

QuickSurf · 10-14-2011, 12:52 PM

Quote:

Originally Posted by kindsvater

Yep - if you want to throw your money away overpaying your taxes.

Otherwise, get a few tax strategies. Yes, it will take you more than a SECOND, but it's your money. Why work hard to make it if you're just going to flush it?

.

Don't think he should be worried about developing tax strategies and over paying with a couple hundred $ in income

I use my fam's CPA, been doing our fams taxes for pry 15 years for businesses, estate etc. She's a genius when it comes to taxes.

10-11-2011, 08:39 PM	#1
piggyy Active Warrior Join Date: Aug 2011 Posts: 57 Thanks: 1 Thanked 0 Times in 0 Posts	So I don't have to file tax if I make less than $500 (or $600?) within a year in CPA...? is that correct? please correct me if I'm wrong. I contacted my AM but he doesn't really know about that. Since I've been seeing many "masters" (people who are really good in CPA) here at warriorforum... just wondering if anyone knows anything about this. From what I've heard, if you makes less than $500 (or $600) within a year in a CPA, I don't have to file tax, right?
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10-11-2011, 08:41 PM	#2
jeffrey73 AdCopyAssault.com War Room Member Join Date: Apr 2010 Location: USA Posts: 2,073 Thanks: 1,249 Thanked 450 Times in 374 Posts	Re: So I don't have to file tax if I make less than $500 (or $600?) within a year in CPA...? That is a question for a CPA ( Certified Public Accountant ). No pun intended.. lol
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10-12-2011, 06:55 AM	#3
ChrisBa Senior Warrior Member Join Date: Jun 2008 Posts: 4,130 Thanks: 10 Thanked 508 Times in 402 Posts Social Networking	Re: So I don't have to file tax if I make less than $500 (or $600?) within a year in CPA...? Please seek an accountant.. this varies by where you are located and not everyone on here will know for sure, last thing you need to do is run into problems with the tax man!
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10-12-2011, 11:50 AM	#5
jwmann2 HyperActive Warrior Join Date: Jun 2011 Location: Cincinnati, OH Posts: 289 Thanks: 1 Thanked 12 Times in 12 Posts	Re: So I don't have to file tax if I make less than $500 (or $600?) within a year in CPA...? Going to be my first year of having to do this as well. I dread it, so much red tape and confusion. Thats the idea, make it confusing for people so they can't find ways around it.
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10-13-2011, 10:12 AM	#8
Kenster Krazy Kenster War Room Member Join Date: Jan 2009 Posts: 5,111 Blog Entries: 11 Thanks: 672 Thanked 2,009 Times in 885 Posts	Re: So I don't have to file tax if I make less than $500 (or $600?) within a year in CPA...? You need to report all income if you are from the US. There are different thresholds for 1099 etc but that's why some companies require an EIN or SS before distributing income.
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10-13-2011, 01:58 PM	#9
Azarna Deborah Richardson Join Date: Sep 2011 Location: Middle of England Posts: 340 Thanks: 86 Thanked 75 Times in 64 Posts	Re: So I don't have to file tax if I make less than $500 (or $600?) within a year in CPA...? You certainly do have to FILE your earnings to the taxman. Whether you have to pay tax on it will depend on how much you are earning from other sources. You pay tax on all earnings over the current threshold, no matter what the source of it. Same for US and UK and no doubt many other countries.

10-13-2011, 02:42 PM	#10
StudFalian Warrior Member Join Date: Mar 2010 Posts: 3 Thanks: 0 Thanked 0 Times in 0 Posts	Re: So I don't have to file tax if I make less than $500 (or $600?) within a year in CPA...? You should file, you wont' get taxed though.

10-14-2011, 03:32 AM	#12
ezpay4me Warrior Member Join Date: Jan 2011 Location: groomweddingspeech.ws Posts: 24 Thanks: 2 Thanked 1 Time in 1 Post Social Networking	Re: So I don't have to file tax if I make less than $500 (or $600?) within a year in CPA...? I don't think so, I have made over $12,000 this past year with Neverblue Ads and I haven't heard of anything related to filing taxes...So for as long as no one bothers you, your good to go. Regards,

10-14-2011, 06:08 AM	#13
badboy_Nick Super Affiliate War Room Member Join Date: Jul 2006 Location: United Kingdom Posts: 1,255 Thanks: 3 Thanked 186 Times in 159 Posts	Re: So I don't have to file tax if I make less than $500 (or $600?) within a year in CPA...? Ask an accountant, best to be safe than sorry ... plus you don't want the IRS crawling up your back. Not a pretty sight Nick
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10-14-2011, 10:05 AM	#15
Teravel A Lifetime Student of IM War Room Member Join Date: Apr 2010 Location: NH, USA Posts: 344 Thanks: 149 Thanked 105 Times in 69 Posts	Re: So I don't have to file tax if I make less than $500 (or $600?) within a year in CPA...? Instead of asking Legal questions in a Marketing forum, go to Google and do a search for Tax Lawyers in your local area. Talk with that lawyer, and ignore the non-legal advice here in the Marketing Forum.