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Everyone Here Plan on Paying their 2011 Taxes (including IM Earnings)

by redstanford
18 replies
I have noticed a great deal of Americans on this forum that have been surprised, even shocked to find out they need to claim earnings online in 2011 on their state and Federal taxes.

I don't know what it is, maybe people don't really view IM as a business, more so a hobby. Income is income.

That said, I am gathering all my business expense receipts and earnings off Amazon, plus my W2 from my day job and heading to HR Block next week. Should be an interesting event.

**Ah reminiscing how painless filing taxes was when I only had my day job to account for
#2011 #earnings #including #paying #plan #taxes
  • Profile picture of the author Serendipitous
    My taxes were completed on Jan 4th. IRS didn't start accepting returns until Jan 17th. Had my refunds by Jan 25. So glad I'm done with that! Nice new Mac here to work on.
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  • Profile picture of the author imdomination
    Of course! I always pay my taxes and so should everyone else. You don't want the headache that can come later if you don't.
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  • Profile picture of the author J Bold
    I'm shocked by topics where people ask if they need to pay taxes (I know the OP isn't one of them).

    Why would you think you don't have to pay taxes for money you earn?

    Also, if you have any tax questions, just go to an accountant and see what you owe or if you owe.
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    • Profile picture of the author sunray
      Originally Posted by redicelander View Post

      I'm shocked by topics where people ask if they need to pay taxes (I know the OP isn't one of them).

      Why would you think you don't have to pay taxes for money you earn?

      Also, if you have any tax questions, just go to an accountant and see what you owe or if you owe.
      You know, paying the taxes (to the British crown) was the very reason why US was founded. People used to flee to America especially because of Europe's high taxes--to live in a country where there was NO INCOME TAX.
      So, maybe it's the genes of their ancestors talking? Maybe they have the right to expect that they don't have to pay anything simply because they've earned something?
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      • Profile picture of the author redstanford
        Originally Posted by sunray View Post

        You know, paying the taxes (to the British crown) was the very reason why US was founded. People used to flee to America especially because of Europe's high taxes--to live in a country where there was NO INCOME TAX.
        So, maybe it's the genes of their ancestors talking? Maybe they have the right to expect that they don't have to pay anything simply because they've earned something?

        i understood it as Americans didn't want to pay taxes yet have no representation in parliament. it wasn't the taxes that bothered them, it was the taxes + absolutely nothing to show for it. plus the Church in Britain was very domineering...
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        • Profile picture of the author sunray
          Originally Posted by redstanford View Post

          i understood it as Americans didn't want to pay taxes yet have no representation in parliament. it wasn't the taxes that bothered them, it was the taxes + absolutely nothing to show for it. plus the Church in Britain was very domineering...
          I'm afraid it's a leftist fairytale that if people can vote once in a while they merrily agree that the elected ones will decide what to do with their money.
          Anyway, Americans got the vote, and income tax was eliminated until 1913--the same year that international bankers took the dollar through the Federal Reserve.
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      • Profile picture of the author fin
        Maybe I'm mistaken.

        I thought internet marketers traveled the world living out of a suitcase: a few months in each country, living on tropical beaches and spending all their money on beer, therefore paying no taxes.

        Are you telling me I'm wrong .
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        • Profile picture of the author redstanford
          Originally Posted by fin View Post

          Maybe I'm mistaken.

          I thought internet marketers traveled the world living out of a suitcase: a few months in each country, living on tropical beaches and spending all their money on beer, therefore paying no taxes.

          Are you telling me I'm wrong .

          ahhh, yes i dream of being a wandering nomad someday..... since my drams of playing linebacker for the Michigan Wolverines and becoming a Navy SEAL have both fallen through, this is the remaining dream on my horizon....
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  • Profile picture of the author PPC-Coach
    I hate taxes more then anything.

    It's the most unfair system in the world.

    Make more, pay more while some live off the government.

    Not fair at all.

    I don't use more services then the next guy, yet I pay more for it.
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    • Profile picture of the author WilliamBlah
      Originally Posted by PPC-Coach View Post

      I hate taxes more then anything.

      It's the most unfair system in the world.

      Make more, pay more while some live off the government.

      Not fair at all.

      I don't use more services then the next guy, yet I pay more for it.
      It's only unfair if you are selfish!

      And even from a selfish perspective if all of those people being allowed a life as a result of welfare were suddenly refused any more help, there would be so much crime that your life would probably be a misery!

      Regards
      Will

      P.S. Although being from the UK I doubt I want to get into an argument on a primarily American dominated forum. Even those you see as liberal are hella right-wing through my eyes!
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      • Profile picture of the author redstanford
        Originally Posted by WilliamBlah View Post

        It's only unfair if you are selfish!

        And even from a selfish perspective if all of those people being allowed a life as a result of welfare were suddenly refused any more help, there would be so much crime that your life would probably be a misery!

        Regards
        Will

        P.S. Although being from the UK I doubt I want to get into an argument on a primarily American dominated forum. Even those you see as liberal are hella right-wing through my eyes!
        good point.

        IMO i don't don't mid paying taxes especially the way America's economy is currently. i enjoying living in a world power protected by it's military and police force. the alternative is not very appealing to me therefore I don't mind paying my fair share to help keep this country afloat...
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      • Profile picture of the author LegionNate
        Originally Posted by WilliamBlah View Post

        It's only unfair if you are selfish!

        And even from a selfish perspective if all of those people being allowed a life as a result of welfare were suddenly refused any more help, there would be so much crime that your life would probably be a misery!

        Regards
        Will

        P.S. Although being from the UK I doubt I want to get into an argument on a primarily American dominated forum. Even those you see as liberal are hella right-wing through my eyes!

        Ugh, gross. Unless it's a direct and apportioned tax I agree with PPC-Coach. Terrible system in place now.
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    • Profile picture of the author rrm
      Originally Posted by PPC-Coach View Post

      I hate taxes more then anything.
      While not overly fond of paying taxes, I hate death more (the other wing on the "Nothing is certain but death and taxes" vulture). Gotta render unto Caesar what's his.

      Ron
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      It's not enough to want it... you have to want it enough.

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  • Profile picture of the author J Bold
    I can see this thread going downhill real fast if we're not careful.

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  • Profile picture of the author Rob Howard
    In before delete!

    Rob
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  • Profile picture of the author matchoo77
    What a shame that my biggest checks I have ever written were to the IRS. I'm gonna change that someday.
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  • Profile picture of the author mattjay
    I figured i'd get in here before the thread was locked and /or gone

    I think that the new law with paypal reporting gross income this year took a lot of people by surprise. I know there were a few of my friends in IM that didn't appreciate it very much for sure lol. However, if you make money at least here in the usa, and it's over a certain amount, you have to pay taxes. I guess we should be thankful that had to pay them, that we made enough TO pay them. that's how i feel, without getting political.
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