[Boards: 3 / a / aco / adv / an / asp / b / bant / biz / c / can / cgl / ck / cm / co / cock / d / diy / e / fa / fap / fit / fitlit / g / gd / gif / h / hc / his / hm / hr / i / ic / int / jp / k / lgbt / lit / m / mlp / mlpol / mo / mtv / mu / n / news / o / out / outsoc / p / po / pol / qa / qst / r / r9k / s / s4s / sci / soc / sp / spa / t / tg / toy / trash / trv / tv / u / v / vg / vint / vip / vp / vr / w / wg / wsg / wsr / x / y ] [Search | Free Show | Home]

Avoiding the thick meaty cock of the government

This is a blue board which means that it's for everybody (Safe For Work content only). If you see any adult content, please report it.

Thread replies: 10
Thread images: 1

File: 1200px-Gadsden_flag.svg.png (119KB, 1200x800px) Image search: [Google]
1200px-Gadsden_flag.svg.png
119KB, 1200x800px
Ok so I am essentially a NEET however I have been doing a very simple job for a friend of mine a couple times a week. He just writes me a check every couple weeks as payment and I deposit it in my bank account. My question is will this get taxed as income? How do they know? Is there some kind of threshold?
>>
Well you pay taxes on anything you buy anyway
>>
idk about american law, but yep, you could get fucked in the ass if they find out. might be they don't, but if they do, you know...
it's mostly only a problem if you lead a lifestyle that doesn't suit your taxed income, though. as in, get wellfare and drive a tesla.
>>
>>18566341
That's what people refer to as being paid "under the table". You should be recording the amount you're being paid and then when you file taxes input it properly. There's a very small chance you'll ever be audited however you might eventually trigger a flag with your bank for drug offenses or money laundering.
>>
>>18566341
There is almost no chance you'll get caught because it's not worth the IRS's time to audit a loser like you, unless those checks are in significant amounts.
>>
>>18566341
>My question is will this get taxed as income?
any money you make is income, and in theory must be reported when you do your taxes
>How do they know?
the IRS can audit the history of your bank account, when they see those checks deposited they'll realize that its undeclared income
>Is there some kind of threshold?
no, but if you're a neet doing odd jobs your income is probably so low that you wouldn't owe any taxes anyway, if you make below around $30k you don't owe anything. The chance of you getting audited is realistically very small, but its not 0.

The danger of an audit is if you have a huge amount of undeclared assets, like hundreds of thousands or millions of dollars that you didn't pay taxes on over several years. Then the IRS will make you pay the taxes you missed, but will also charge interest and fees so it can become ruinously expensive. They also have the power to automatically take money from your paycheck or seize your home if you owe them lots of money. But I don't think that would really be an issue for someone like you with very low income and no real assets.

You should focus on getting a real job though anon.
>>
Honestly if you make less than 50k you can just not pay taxes and you won't be punished unless you randomly get audited. Just make sure you pay if they send you a letter to avoid interest and credit score damage.
>>
>>18566341
Instead of depositing the checks, cash them and spend the cash directly?
>>
>>18567018
This
>>
>>18566341
It depends how much you make. I was in a similar position years ago for about two years and never filed taxes. I wasn't making enough to where I didn't owe anything.
Thread posts: 10
Thread images: 1


[Boards: 3 / a / aco / adv / an / asp / b / bant / biz / c / can / cgl / ck / cm / co / cock / d / diy / e / fa / fap / fit / fitlit / g / gd / gif / h / hc / his / hm / hr / i / ic / int / jp / k / lgbt / lit / m / mlp / mlpol / mo / mtv / mu / n / news / o / out / outsoc / p / po / pol / qa / qst / r / r9k / s / s4s / sci / soc / sp / spa / t / tg / toy / trash / trv / tv / u / v / vg / vint / vip / vp / vr / w / wg / wsg / wsr / x / y] [Search | Top | Home]

I'm aware that Imgur.com will stop allowing adult images since 15th of May. I'm taking actions to backup as much data as possible.
Read more on this topic here - https://archived.moe/talk/thread/1694/


If you need a post removed click on it's [Report] button and follow the instruction.
DMCA Content Takedown via dmca.com
All images are hosted on imgur.com.
If you like this website please support us by donating with Bitcoins at 16mKtbZiwW52BLkibtCr8jUg2KVUMTxVQ5
All trademarks and copyrights on this page are owned by their respective parties.
Images uploaded are the responsibility of the Poster. Comments are owned by the Poster.
This is a 4chan archive - all of the content originated from that site.
This means that RandomArchive shows their content, archived.
If you need information for a Poster - contact them.