Teenager + Taxes

[TomasBlackhat]

Hi,
I have made somewhere over $500 w/ "that certain CPA survey company" this year, but a couple weeks ago I just unblocked my sites so I wouldn't go over $600 b/c I don't want my parents to know I do internet marketing.

I'm getting my payments to Paypal. If I never withdraw to a bank account, can they still make me file taxes? Is there any way around this?

 

[AdGuruSoftware]

Wow
Yes there are ways around it but truthfully its most likely alot harder then telling your parents you doing online marketing. Come up with a bluff about the money so you dont say internet marketing say your doing web development or software development.

If you want to know other ways around it pm me.

Also I'm not sure if they will take taxes out of paypal if its still in the account you might be fine anyways lol.

 

[Dayum]

its not until you go over that $600 mark that cpaleed will notify them as you know, your $500 is fine, withdraw it from paypal if you can, no ones going to come after you. Bank account isn't going to ask where you got $500, you need a lot more then that before a bank account notifys anyone. I got a check from somewhere for over 2grand a few years ago, deposited into a bank, withdrew and spent it all, I was 16 at the time, no worries.

if your talking about how to get around the $600 thing cpaleed has then not sure theres a way aside from making another account, don't think they'd notice but couldnt be too sure

im not sure if this applies to money made on the net, but unless you make over like 8 (or around there not sure exact amount) grand in a year, you dont have to pay any taxes. like I said though I don't know if that applies to money made on the net.

 

[StationMate]

actually lots of countries are cracking down - the US and Canada being amonst them. They're pushing to have companies report income - specifically Paypal - which supposedly will/is reporting income. You should be fine though, $500 is peanuts to the gov't. They wouldn't care because it would take more to actually go after you.

But lol at the situation. I'm guessing you're like 13...or something. The look on his parent's face would be priceless.

 

[CYBERTRON]

b/c I don't want my parents to know I do internet marketing.

if this is a fear. then perhaps your not ready for this anyways. i wish I had your tax problems hehehe

 

[*poohbear*]

Paypal starts reporting to the IRS for the tax year 2011 (so when you file in 2012)..and they only report it if you have over 200 transactions and $20k in payments.

Link:https://www.thepaypalblog.com/2008/08/proposed-irs-reporting-requirements-become-law/

 

[Dayum]

if this is a fear. then perhaps your not ready for this anyways. i wish I had your tax problems hehehe

It's understandable though. His parents are going to want him to show him more about it, and him most likely using blackhat techniques, it's gonna make it hard to explain. The average person has no clue what so ever of all these internet money making methods, they only see internet as a tool of communication and porn.

 

[CYBERTRON]

It's understandable though. His parents are going to want him to show him more about it, and him most likely using blackhat techniques, it's gonna make it hard to explain. The average person has no clue what so ever of all these internet money making methods, they only see internet as a tool of communication and porn.

Thats true. My mom still thinks internet is only for perverts and their porn. :baby25:

 

[TomasBlackhat]

I'm actually 16, almost 17. Now here's a question. When you file taxes, does your ************** earnings show up in a different place than your regular job earnings? I am probably getting a job this summer, and let's just say in theory that I make $2000. Could I just file/tell my parents I made $2000 + ************** $$$ in that one job and be on with it?

 

[mistablackhat00]

No one else has pointed out how ridiculous this thread is? Why on earth would you be afraid to tell your parents that you made money on the internet? Explain to them how you did it, or if you think they won't like how you did it make something up, how will they know?

 

[SmileAtmyWins]

Honestly, what would your parents care? Youre making MONEY.

 

[Dayum]

No one else has pointed out how ridiculous this thread is? Why on earth would you be afraid to tell your parents that you made money on the internet? Explain to them how you did it, or if you think they won't like how you did it make something up, how will they know?

It really isn't ridiculous, it sucks being young and having to explain to everyone how your making money. Some parents might be like ok whatever and some will go off telling other family, I've been there, it gets annoying. There's nothing wrong with keeping it on the down low.

 

[cheapyoutubeviews]

No one else has pointed out how ridiculous this thread is? Why on earth would you be afraid to tell your parents that you made money on the internet? Explain to them how you did it, or if you think they won't like how you did it make something up, how will they know?

its not ridiculous at all. Some parents are old fashioned and would not allow this type of stuff. They might not be able to understand how he did it.

 

[mistablackhat00]

To the two above me, I suppose you are right. I meant to say that it's ridiculous that there are parents out there who wouldn't like their child to make money just because it's not a typical $8 an hour shit job.

 

[mon3y4me]

It really isn't ridiculous, it sucks being young and having to explain to everyone how your making money. Some parents might be like ok whatever and some will go off telling other family, I've been there, it gets annoying. There's nothing wrong with keeping it on the down low.

lol..this happened to me when I received check from google.My mom was telling to other peoples that i was earning money online.It was quite annoying actually.

 

[TomasBlackhat]

I am guessing my mom would have a massive problem with me streaming movies (not adult) and being on forums. She's really protective. I received a check from a site called ProTrade (a sports stock market thing) for $40 for winning one of their weekly competitions, and she didn't let me cash it. Dumb.

 

[HoNeYBiRD]

just tell them, you sold some dope, and that's where your money come from, see what happens and when they are calmed down (hopefully still alive), you can tell them the truth about your shady IM life