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About Cashcrate

Is this considered erarned income? If so do you file taxes such as Fed tax, state tax, & FICA on it or do they do it for you????

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Asked by Anonymous at 6:29 PM on Jun. 29, 2008 in Money & Work

Answers (4)
  • You have to file taxes for yourself... but most states and definetly fed, if you dont make over a certain amount a year they wont take any money

    Answer by starglo at 7:43 PM on Jun. 29, 2008

  • You are supposed to include it on your tax return. If you make $600+ in one year cashcrate is to send you a 1099-misc. Gov't gets a copy of this also so if it doesn't show up on your tax return you might get audited. Before panicking about "extra taxes" it will all depend on how many children you have. What tax bracket your in, if it puts you into a higher tax bracket. If you can itemize, if you have child care expenses. All of these can offset any "extra tax" and you won't have to send $$ to the IRS.
    I am an accountant btw!

    Answer by SensualScents at 11:55 AM on Jun. 30, 2008

  • Yes we are considered independant contractors. We file a w-9 once we make $600 in a given year.I make over that each month so yes I have already filled out my w-9.

    Answer by momagarry at 10:46 PM on Jul. 3, 2008

  • Yes you do.. but only if you've earned over $600 for the year. They have a form uploaded on the site that you can click and print and fill out and mail in.

    Answer by TriNi27 at 11:47 AM on Dec. 20, 2008

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