1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

When do I need to pay taxes?

Discussion in 'Business & Tax Advice' started by Bonaparte, Jun 29, 2013.

  1. Bonaparte

    Bonaparte Registered Member

    Joined:
    Jan 25, 2010
    Messages:
    62
    Likes Received:
    28
    Hello BHW. I live in the state of Georgia, in the United States. I'm pretty oblivious when it comes to taxes. Does anyone know how much money you need to make in order to pay taxes? I'm currently self-employed.
     
  2. unclemike

    unclemike BANNED BANNED

    Joined:
    Nov 6, 2012
    Messages:
    827
    Likes Received:
    984
    As a self employed business owner you should show proof of income and claim all earned money. If your earned money is below $7,000 I think you do not need to claim it?

    You need a 1099 form if I am not mistaken.

    PS: I am not a tax attorney lol

    Cheers,
    Unclemike
     
  3. GauravJ

    GauravJ Power Member

    Joined:
    Jul 25, 2012
    Messages:
    626
    Likes Received:
    207
    Occupation:
    Internet Marketer
    Location:
    Near you
    Home Page:
    Hire a CPA to get rid-off all of these in-productive tasks.
     
  4. reallife

    reallife Jr. VIP Jr. VIP

    Joined:
    Apr 2, 2010
    Messages:
    2,185
    Likes Received:
    533
    The amount you need to make varies; the requirement that you file tax returns does not.
    Not an attorney, just my opinion, etc. etc.
     
  5. linkatwork

    linkatwork Registered Member

    Joined:
    Jun 29, 2013
    Messages:
    73
    Likes Received:
    13
    Occupation:
    Unemployed
    Location:
    Blackhatworld
    You mean CA there?
     
  6. allegran73hm

    allegran73hm Junior Member

    Joined:
    Jun 21, 2012
    Messages:
    182
    Likes Received:
    35
    If you're self-employed and don't know much about taxes I would highly recommend you hire a CPA or EA who is based in your hometown. There could be half a dozen different taxes and tax forms you need to file so it's not as easy as getting one answer from an online forum.
     
  7. montemaur

    montemaur Registered Member

    Joined:
    Jul 5, 2013
    Messages:
    61
    Likes Received:
    6
    if you'r not making at least 5 figures it doesn't matter, they don't have enough resources to check everybody making money online. Even if you'e making 5 figures it rarely matters. Technically you should claim any amount you make...but if you're worried just find a local CPA who will probably help you out for 100 bucks.
     
  8. maverickk3

    maverickk3 Junior Member

    Joined:
    May 13, 2013
    Messages:
    133
    Likes Received:
    30
    Occupation:
    SEO manager
    Home Page:
    Or create an offshore company :D
     
  9. thefsboking

    thefsboking Newbie

    Joined:
    Aug 26, 2011
    Messages:
    12
    Likes Received:
    0
    From what I know anything over $300.00 should be reported. I you have legitimite expenses they will reduce your income and thus the amount of tax you owe. If you have more expenses than income then you need to find a new business.