tax question for HYIP

United States
February 15, 2010 11:17am CST
So its close to tax time, and I am considering starting an investment program with a program like Genius Investments, I was just wondering how do you claim the money you get from this program on tax forms? I figured this time of year was the best time to ask about it.
1 person likes this
2 responses
@de_toya (2434)
• Indonesia
17 Feb 10
I have join GeniusFunds for 3 months. I think there is no tax or they have deducted my profit. I don't know and I don't want to know. All I want is make extra money online easily, no extra time for work. I prefer the term "investment" rather than HYIP. Most of you have negative thinking about HYIP. I use liberty reserve to make investment at GeniusFunds and found no problem when investing and withdraw my profit. The process is easy and fast. Just few minutes to make investment and my profit is paid instantly. I also make investment at two others site and all of them work properly. No problem with the tax.
• United States
22 Feb 10
but what about income tax? do you claim it at all?
@de_toya (2434)
• Indonesia
23 Feb 10
No, I don't pay any tax for my online income. I only pay tax for my offline job.
• United States
23 Feb 10
alright thanks!
@magtibaygom (4865)
• Philippines
16 Feb 10
Be careful of HYIPs. Most of them, if not all, are.. you know.. scam. But maybe you have found a good one. Good luck! :)