TalkPTC
General => General Fun and Flames => Topic started by: extrax on March 15, 2016, 05:40:19 PM
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As a US tax payer, I would like know what is an appropriate way to file tax returns from using PTC sites? From what I've gathered, income earnings from PTC sites are considered as "Non-employee Compensation and Rewards." From anyone's experiences, what would be the best course of action?
Any US member, please help.
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I am not in/from US but let me ask you:
Why, if it results in few, very few dollars?
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As a US tax payer, I would like know what is an appropriate way to file tax returns from using PTC sites? From what I've gathered, income earnings from PTC sites are considered as "Non-employee Compensation and Rewards." From anyone's experiences, what would be the best course of action?
Any US member, please help.
https://www.irs.gov/uac/Newsroom/Five-Basic-Tax-Tips-about-Hobbies
Your best bet is to save 20% of every payment you receive. Ultimately what they will factor is every single dollar you earn. If you made enough on the side you WILL have to pay a fee. On the state side of things it varys from state to state.
Also check this out. I don't know how successful you are in the PTC industry but this is good to read also.
http://www.irstaxtrouble.com/common-small-business-tax-trouble-hobby-losses/