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

Profile picture of the author piggyy by
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?
#ad networks #$500 #$600 #cpa #file #make #tax #year

  • Profile picture of the author jeffrey73
    That is a question for a CPA ( Certified Public Accountant ). No pun intended.. lol

  • Profile picture of the author ChrisBa
    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!
  • Profile picture of the author pacelattin
    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.


    Originally Posted by piggyy View Post

    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?
  • Profile picture of the author 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.
  • Profile picture of the author 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.



    Originally Posted by jwmann2 View Post

    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.
  • Profile picture of the author kindsvater
    Originally Posted by pacelattin View Post

    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?

    .
  • Profile picture of the author Kenster
    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.
  • Profile picture of the author Azarna
    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.
  • Profile picture of the author StudFalian
    You should file, you wont' get taxed though.
  • Profile picture of the author pacelattin
    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.

    Originally Posted by kindsvater View Post

    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?

    .
  • Profile picture of the author 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,
  • Profile picture of the author badboy_Nick
    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
  • Profile picture of the author jeffrey73
    Are you kidding? lol

    Originally Posted by ezpay4me View Post

    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,
  • Profile picture of the author Teravel
    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.
  • Profile picture of the author QuickSurf
    Originally Posted by kindsvater View Post

    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.

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