Claiming "trial offers" on your taxes?
@LouieWpHs04 (4555)
United States
March 2, 2008 10:10am CST
I dont know, from what I understand of how claiming works when it comes to your taxes is that you can technichally claim anything to do with whatever the business type of thing you're doing online is. So wouldn't that technichally mean you can claim the money you put into Trial offers? I don't personally do this but i'm just wondering if you could "claim" that? because then in some cases it might actually be worth it to do the offers that cost you. Thoughts?
2 people like this
3 responses
@theproperator (2429)
• United States
2 Mar 08
IN order to write something off as a business expense, you have to officially own a business, meaning you have filed paperwork to become a company or LLc with the state. You can't write off such things on your personal tax returns.
If you want to write off the expenses, you also have to declare the money earned online as income, and pay taxes on it, even if you earn less than $500.
2 people like this
@LouieWpHs04 (4555)
• United States
2 Mar 08
Yes, I understand the whole you have to be a business thing. As for the other information, thanks for helping me understand it a little better, :P
@drknlvly6781 (6246)
• United States
2 Mar 08
You are exactly right in thinking that you can claim the money spent on trial offers, but only if it comes up to a certain amount.
If you have ever done Project Payday, you will know that that income building opportunity is based on doing trial offers. Any "Freebie" website worth it's salt has in their terms and conditions that if you earn over $650 dollars they will send you a 1099 form giving your earnings, and you are to file taxes with that. However, it doesn't stop there.
I looked further into this and I found out from the IRS that you are required to claim not only any earnings in this field, but any expenses as well, if combined they equal over $650 for the year. Therefore as long as you have earned/spent a combined total of $650 for 2007, you are required to list this on your return.
