Declaring your online income
October 31, 2008 7:04pm CST
How does this work where the government are concerned? Seeing as though the money is in an internet account which doesn't belong to me right up until the point where I draw it out, then do I declare it at the time I withdraw it or while I'm earning it? Do I have to supply the from and to dates it took me to earn this amount of money? When do I supply the information, after I've earned it or while I'm earning it? What if I don't know how much I'm expecting to make? etc. I think you see my point!
• United States
1 Nov 08
What I have learned over the yrs. of doing Various online Businesses, etc. online that you do not have to worry about claiming your income on any of them unless you earn over $600 in any of them for the yr. Then the site is supposed to provide you with an I-9 and provide your information to IRS as well. So this means most people are safe if you are not going to achieve this much on your sites as well. Hope this helps, and if you have any other questions, you can always call IRS or ask a Tax advisor on this as well.