Full Version: Please Help! : TAXES
MoneyMakerGroup Forum > MoneyMaking: Markets, Real Estate, Banking, and Investments > Personal Finance > Taxes & Legal Discussion
|
|
How do you file taxes and what undeR? what percentage do you take out? I made a total on all income last year $9,845.34 Do i have to report since there is a 10K poverty thing? How do i report someone tell me what i should do? USA
Contact an accountant.
push comes to shove .... go to H & R Block. It's pretty inexpensive (for the most part) and if you don't have all the paperwork needed, they will just schedule another appointment for you.
What do i need to show them.. I went to a accountant they Had no clue what to do or file under, they were sceptic if it was even legal.. I didnt like that, and they HAD NO IDEA, it was like they were dumb
Whats is everyone else doing?
Nothing maybe?
lol... just report it as a gift or something
 jki suggest you find a GOOD CPA or a lawyer... ask him, consultation is free... and then maybe go to HR BLOCK.... but dont just not file anything because if the govt does find out.... prison for you
Just tell them you make money doing doing various contracting work for other companies online or something similar.
Yes. Dont mention as Money earned from Doubler like that.
You mention it as You are software seller , selling scripts.
??? what if they audit and ask for info?
whats everyone else filling it as?
You can report it as income from a home-based business, and you'll be able to take some new deductions becuase of it. You'll fill out schedule "C" and maybe form 8829 along with your 1040. It's easy to do a download of your IntGold / StormPay transactions and put into excel to determine profit & loss. Take your info to a CPA or a tax preparer especially if you have not filed this way previously. Your IG & SP records are available in case of audit. If you should get audited, the CPA can help you and go and represent you to the IRS. Check out the IRS site for some more info.
... i dont want audited.. thats gay, If i pay right why, and how could, and should i get introuble
if you just are going to pay the taxes and have essentially no deductables, just claim it as gambling income, they you really dont need to account for where each dollar came from.
is that what your doing?
QUOTE(ownagesoft @ Mar 10 2005, 07:11 PM) ... i dont want audited.. thats gay, If i pay right why, and how could, and should i get introuble [right][snapback]178378[/snapback][/right] its gay? strange analogy. Getting audited is very rare and usually only happens if you make tons of money or try to get away with something stupid ... they don't have the time to mess with little guys. QUOTE(Yippee @ Mar 10 2005, 10:09 PM) its gay? strange analogy. Getting audited is very rare and usually only happens if you make tons of money or try to get away with something stupid ... they don't have the time to mess with little guys. [right][snapback]178547[/snapback][/right] Actually they love to mess with the little guy. Not for 10k but the mid range salaries of 40-80k. Worked there and all... Gambling is an option is you're not going to claim other stuff. Or just tell them you're a pimp.
PIMP
thats what Im doing.. 
ok well anyone know the % of gambling.. someone told me 25-28%
Something like that...
I really like the PIMP option! LOL hehe
I dont really have 2K or more to pay.. I never thought about it like i moron.. Will the IRS send me a bill if i send in the forms, and can i pay monthly? in lower incraments.?
I also have some confusion about Taxes. According to my country income level(India), i'm earning a lot of money per month. Till now, I was withdrawing all of my income straight to my bank account and my accountant audits all of my transactions. He is not showing any income from doublers or ponzi's cause it is banned in india. The best way to save taxes is to have 3-4 insurance policies and you get a good rebate on taxes. It is only the case when you are reporting your income. From last 15 days,i'm using the ingold/goldage debit cards. Are these cards completely anonymous?? May i save my taxes if i withdraw money via these cards?? Do i need to report the money transaction of these cards too?? Can IRS peoples come to my house for coffee if i don't report my earnings?? Pls suggest me...
QUOTE(Mistaken Identity @ Mar 10 2005, 10:18 PM) PIMP thats what Im doing.. [right][snapback]178556[/snapback][/right]  Same here!!
Please stay on topic
Thank you
QUOTE(TheMobileHookup @ Mar 10 2005, 07:11 PM) Actually they love to mess with the little guy. Not for 10k but the mid range salaries of 40-80k. Worked there and all... Gambling is an option is you're not going to claim other stuff. Or just tell them you're a pimp. [right][snapback]178549[/snapback][/right]   
QUOTE(moneylover @ May 7 2005, 03:37 AM) I also have some confusion about Taxes. According to my country income level(India), i'm earning a lot of money per month. Till now, I was withdrawing all of my income straight to my bank account and my accountant audits all of my transactions. He is not showing any income from doublers or ponzi's cause it is banned in india. The best way to save taxes is to have 3-4 insurance policies and you get a good rebate on taxes. It is only the case when you are reporting your income. From last 15 days,i'm using the ingold/goldage debit cards. Are these cards completely anonymous?? May i save my taxes if i withdraw money via these cards?? Do i need to report the money transaction of these cards too?? Can IRS peoples come to my house for coffee if i don't report my earnings?? Pls suggest me... [right][snapback]237457[/snapback][/right] 
Cards are fully anonymous.... Just don't tell any body about your cards and the transections you are making with this card. Also better use your card on different ATM's....
QUOTE(stormy @ May 8 2005, 04:01 PM) Cards are fully anonymous.... Just don't tell any body about your cards and the transections you are making with this card. Also better use your card on different ATM's.... [right][snapback]238456[/snapback][/right] Now MoneyLover Can Save Tons Of Money By Not Paying Big Bucks For Taxes..
QUOTE(secrets2success @ May 8 2005, 03:47 AM) Now MoneyLover Can Save Tons Of Money By Not Paying Big Bucks For Taxes.. [right][snapback]238466[/snapback][/right] But will have to pay tons of fee to debit card QUOTE(Global*Money @ May 8 2005, 04:25 PM) But will have to pay tons of fee to debit card [right][snapback]238469[/snapback][/right] Point Noted..So Either Way You Will Have To Pay Good Amount Of Money.. QUOTE(Global*Money @ May 8 2005, 05:55 AM) But will have to pay tons of fee to debit card [right][snapback]238469[/snapback][/right] Well, It costs me same fees to load money to my card or wire transfer to my bank. Now, I can save a lot of money. 
QUOTE(stormy @ May 8 2005, 05:31 AM) Cards are fully anonymous.... Just don't tell any body about your cards and the transections you are making with this card. Also better use your card on different ATM's.... [right][snapback]238456[/snapback][/right] I will keep this in mind. Thanks.
QUOTE(stormy @ May 8 2005, 02:31 AM) Cards are fully anonymous.... Just don't tell any body about your cards and the transections you are making with this card. Also better use your card on different ATM's.... [right][snapback]238456[/snapback][/right] what about western union ? anonymous?
QUOTE(moneylover @ May 7 2005, 01:37 AM) I also have some confusion about Taxes. According to my country income level(India), i'm earning a lot of money per month. Till now, I was withdrawing all of my income straight to my bank account and my accountant audits all of my transactions. He is not showing any income from doublers or ponzi's cause it is banned in india. The best way to save taxes is to have 3-4 insurance policies and you get a good rebate on taxes. It is only the case when you are reporting your income. From last 15 days,i'm using the ingold/goldage debit cards. Are these cards completely anonymous?? May i save my taxes if i withdraw money via these cards?? Do i need to report the money transaction of these cards too?? Can IRS peoples come to my house for coffee if i don't report my earnings?? Pls suggest me... [right][snapback]237457[/snapback][/right] straight to bank account is not a big problem. i had a talk with my bank's foreign exchange department, i told him i am doing contract work through internet ie, like webdesigning , programming etc , and want to transfer money from US to india.and is there any problem in foreign tranfer. any tax problem. and his replies are, There is no tax on money in saving account in india. ( money in fixed account and other have tax) ie, you can keep as much money in saving account. with foreign tranfer if you exceed 5000$ per month, they should report that account. and he also pointed out that its also not a big problem, they need to report that but noone enquire about this little 5000$, due to NRI money. especially in my region ( southern) where many people are working abroad. in US, UK and most are in Gulf countries. and tons of $$$ are tranfered every month for thier family. also he said ( with humour - he may think what this little guy will do, i will show him my tranfer  ) - don't tranfer some millions if you do so , they will investigate it. moneylover, go ahead and have talk with your bank, and with foreign exchange department. they will explain it. plz never talk these paypal like stuff to other employees they wonder like a kid and says 'we don't know sir' go directly to exchange side or to the manager. the above things are as per UTI bank. i talked in 2 branches both side i got same reply. PS: why are you worrying too much, its INDIA. if you have money you can do anything here
QUOTE(mssarath @ May 11 2005, 01:58 AM) straight to bank account is not a big problem. i had a talk with my bank's foreign exchange department, i told him i am doing contract work through internet ie, like webdesigning , programming etc , and want to transfer money from US to india.and is there any problem in foreign tranfer. any tax problem. and his replies are, There is no tax on money in saving account in india. ( money in fixed account and other have tax) ie, you can keep as much money in saving account. with foreign tranfer if you exceed 5000$ per month, they should report that account. and he also pointed out that its also not a big problem, they need to report that but noone enquire about this little 5000$, due to NRI money. especially in my region ( southern) where many people are working abroad. in US, UK and most are in Gulf countries. and tons of $$$ are tranfered every month for thier family. also he said ( with humour - he may think what this little guy will do, i will show him my tranfer ) - don't tranfer some millions if you do so , they will investigate it. moneylover, go ahead and have talk with your bank, and with foreign exchange department. they will explain it. plz never talk these paypal like stuff to other employees they wonder like a kid and says 'we don't know sir' go directly to exchange side or to the manager. the above things are as per UTI bank. i talked in 2 branches both side i got same reply. PS: why are you worrying too much, its INDIA. if you have money you can do anything here [right][snapback]241181[/snapback][/right] I know that you can do anything if you have money. I will confirm it from my bank .
QUOTE(ownagesoft @ Mar 5 2005, 05:00 PM) Whats is everyone else doing? Nothing maybe? [right][snapback]171608[/snapback][/right] lol, lol, lol, lol I can't find that laughing emoticon, but your right...what do we do???
[quote=warn81,Jul 3 2005, 01:42 PM]
lol, lol, lol, lol I can't find that laughing emoticon, but your right...what do we do??? [right][snapback]303908[/snapback][/right] [/quote Be a good sport and pay your taxes, you will be glad you did. 
It's the "safest" thing to do for sure.
Although not necesarily the wisest. [quote=dswide,Jul 21 2005, 05:56 PM] [quote=warn81,Jul 3 2005, 01:42 PM] lol, lol, lol, lol I can't find that laughing emoticon, but your right...what do we do??? [right][snapback]303908[/snapback][/right] [/quote Be a good sport and pay your taxes, you will be glad you did. [right][snapback]331438[/snapback][/right] [/quote]
I't was mentioned earlier that debit cards are anonymous, but don't you have to go through either e-gold or intgold in order to fund those debit cards, so if the tax man was to check you out wouldn't you need to show records of transactions made through e-gold or intgold? therfore the debit cards arn't anonymous
koko
I couldn't agree more.
The only "anonymous" way to spend is good old currency, cash. Bearer notes. No checks, no money orders, no cards. QUOTE(koko224 @ Aug 4 2005, 07:51 AM) I't was mentioned earlier that debit cards are anonymous, but don't you have to go through either e-gold or intgold in order to fund those debit cards, so if the tax man was to check you out wouldn't you need to show records of transactions made through e-gold or intgold? therfore the debit cards arn't anonymous koko [right][snapback]356562[/snapback][/right]
I think the only place i may have had to put in a SSN is at studiotraffic because they are a company. I have never had to put in my SSN in egold or any hyip. You could have a completely different online identy and i dont see a way that anyone would be able to track you except if you get deposits into you bank account. So if you use these debit cards (which i have never used) if you dont have to put in your SSN i dont see how you would be tracked.
The only way to get tracked is by the IP Address. Even then it is not always a reliable means of identification.
QUOTE(tgpfarm @ Aug 10 2005, 07:09 PM) I think the only place i may have had to put in a SSN is at studiotraffic because they are a company. I have never had to put in my SSN in egold or any hyip. You could have a completely different online identy and i dont see a way that anyone would be able to track you except if you get deposits into you bank account. So if you use these debit cards (which i have never used) if you dont have to put in your SSN i dont see how you would be tracked. [right][snapback]369179[/snapback][/right]
dont you have to get the debit cards mailed to you reveailing your address? Even PO boxes are pretty strict about checking your identity before they rent to you.
I think the bottom line is that if the government really wants to get you, they will
So in terms of the US are most of you all just keeping good records of your earnings and loses and letting your accountant deal with it?
I wouldnt recommend report any profits as gambling profits... reason for that is its a 1/1 ratio... for every dollar you "win" you pay $1 in taxes....
luke Hello everyone .. This is my first posting .. but I have asked that question of my Financial person. If they don't know or have asked for your Social Security Number .. You Don't received a 1099 form .. How are they going to know about any other money earned from you from this company .. No Social Security Number .... = No Record ..= Right ?? That is what my Financial person thought ... So does this put another side to your question .. it does to me .. I would like to read what others think about this as I haven't made up my mind yet. 
QUOTE(koko224 @ Aug 4 2005, 03:51 AM) I't was mentioned earlier that debit cards are anonymous, but don't you have to go through either e-gold or intgold in order to fund those debit cards, so if the tax man was to check you out wouldn't you need to show records of transactions made through e-gold or intgold? therfore the debit cards arn't anonymous koko [right][snapback]356562[/snapback][/right] I don't think they would find your E-gold account online in the first place, to even see any transactions. Then it would be safe in my opinion. This is how I am going to do it. QUOTE its gay? strange analogy. I don't know if this is what he means but where I'm from depending on how your saying it (the quote would fall into this catagory) it also means corny, wack, wrong.
QUOTE(charmer @ Dec 31 2005, 01:56 AM) [snapback]749117[/snapback] Hello everyone .. This is my first posting .. but I have asked that question of my Financial person. If they don't know or have asked for your Social Security Number .. You Don't received a 1099 form .. How are they going to know about any other money earned from you from this company .. No Social Security Number .... = No Record ..= Right ?? That is what my Financial person thought ... So does this put another side to your question .. it does to me .. I would like to read what others think about this as I haven't made up my mind yet. where do cash $12000 checks every week? QUOTE(Yippee @ Mar 10 2005, 07:09 PM) [snapback]178547[/snapback] its gay? strange analogy. Getting audited is very rare and usually only happens if you make tons of money or try to get away with something stupid ... they don't have the time to mess with little guys. cool! |
This is a "lo-fi" version of our main content. To view the full version with more information, formatting and images, please click here.