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Unread 11th October 2011, 08:39 PM   #1
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Default 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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Unread 11th October 2011, 08:41 PM   #2
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Default 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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Unread 12th October 2011, 06:55 AM   #3
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Default 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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Unread 12th October 2011, 08:17 AM   #4
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Default Re: So I don't have to file tax if I make less than $500 (or $600?) within a year in CPA...?

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.


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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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Unread 12th October 2011, 11:50 AM   #5
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Default 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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Unread 12th October 2011, 11:52 AM   #6
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Default Re: So I don't have to file tax if I make less than $500 (or $600?) within a year in CPA...?

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.



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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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Unread 13th October 2011, 10:06 AM   #7
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Default Re: So I don't have to file tax if I make less than $500 (or $600?) within a year in CPA...?

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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?

.

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Unread 13th October 2011, 10:12 AM   #8
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Default 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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Unread 13th October 2011, 01:58 PM   #9
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Default 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.
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Unread 13th October 2011, 02:42 PM   #10
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Default 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.
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Unread 13th October 2011, 03:00 PM   #11
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Default Re: So I don't have to file tax if I make less than $500 (or $600?) within a year in CPA...?

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.

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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?

.

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Unread 14th October 2011, 03:32 AM   #12
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Default 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.

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Unread 14th October 2011, 06:08 AM   #13
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Default 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

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Unread 14th October 2011, 08:14 AM   #14
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Default Re: So I don't have to file tax if I make less than $500 (or $600?) within a year in CPA...?

Are you kidding? lol

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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,

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Unread 14th October 2011, 10:05 AM   #15
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Default 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.
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Unread 14th October 2011, 12:52 PM   #16
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Default Re: So I don't have to file tax if I make less than $500 (or $600?) within a year in CPA...?

Quote:
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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