O.K.,
I'm just getting into all this egold/HYIP/autosurf stuff.
I'd like to start this new year with Quicken right from the very beginning, to keep track of everything.
I've never used Quicken, or any other similar product. I've only ever used Turbotax online, but now that I'm getting into so many different many making things at one time, I would like something to help me keep track of everything, all year long, so this won't be too crazy when tax time comes next year.
And I want to make sure I'm paying all the taxes I'm supposed to. I don't want any trouble down the road.
I use Google Adsense, tons of Commission Junction links, and many other similar programs, PLUS now all this new egold stuff.
I have many questions, but let me start with this one:
I have been using Weltex lately. When/how/where do I add into Quicken that I've made money, which I need to pay taxes on?
For example, if I leave all my egold in the Weltex account, roll it over, being risky, (let's just assume this), trying to make more money, and then loose it all when Weltex closes, I shouldn't have to pay taxes on nothing, right?
So, does that mean I shouldn't tell Quicken that I've made a profit, until I pull the egold out of my Weltex account and into my e-gold account, and then it's sure profit? Is that when I include it into Quicken?
I have no idea how to use Quicken, I haven't purchased it yet. I'm still trying to decide which version I need. Basic, Deluxe, Premier, or Premier Home & Business.
Thanks, Shane
Full Version: Qucken, Turbotax, HYIPs & Taxes! - Help Please
MoneyMakerGroup > MoneyMaking: Markets, Real Estate, Banking, and Investments > Personal Finance > Taxes & Legal Discussion
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Well, I dont know how helpful this will be to you. I am not a tax expert by any means, but how I am keeping my records is like this.
(I use paper forms, not quicken. PM for a PDF of the forms) I have a different page for each program that I invest in. Each form has a column for the date, amount invested, amount withdrawn, and the actual withdrawl amount after fees(I use storm pay, and this takes out the storm pay fees) Then I have a colun for notes about where I reinvested into. At the bottom I have a row for totals, I can total up each column. I then take the amount withdrawn after fees, subtract it from the amount invested and I get my profit. I only add the amounts to Quicken when it is transfered into my checking account. My situation may be a bit different from yours however. I am still in the build-up stage on all my programs. I am not using any of the money I am making, just reinvesting until I have a good chunck in all my programs. I hope this made sense to you. and I hope it helps. I certainly would pay a trusted tax preparer to do your taxes for you. They will have the infromation they need from the forms I suggested. God Bless, Heather QUOTE(eccl1019 @ Jan 2 2006, 06:42 PM) O.K., I'm just getting into all this egold/HYIP/autosurf stuff. I'd like to start this new year with Quicken right from the very beginning, to keep track of everything. I've never used Quicken, or any other similar product. I've only ever used Turbotax online, but now that I'm getting into so many different many making things at one time, I would like something to help me keep track of everything, all year long, so this won't be too crazy when tax time comes next year. And I want to make sure I'm paying all the taxes I'm supposed to. I don't want any trouble down the road. I use Google Adsense, tons of Commission Junction links, and many other similar programs, PLUS now all this new egold stuff. I have many questions, but let me start with this one: I have been using Weltex lately. When/how/where do I add into Quicken that I've made money, which I need to pay taxes on? For example, if I leave all my egold in the Weltex account, roll it over, being risky, (let's just assume this), trying to make more money, and then loose it all when Weltex closes, I shouldn't have to pay taxes on nothing, right? So, does that mean I shouldn't tell Quicken that I've made a profit, until I pull the egold out of my Weltex account and into my e-gold account, and then it's sure profit? Is that when I include it into Quicken? I have no idea how to use Quicken, I haven't purchased it yet. I'm still trying to decide which version I need. Basic, Deluxe, Premier, or Premier Home & Business. Thanks, Shane [right][snapback]764024[/snapback][/right] |
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