How stingy is the IRS? I'm not used to paying taxes, and - /biz/ - Business & Finance

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Anonymous
2016-02-24 02:12:01 Post No. 1108087
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Anonymous 2016-02-24 02:12:01 Post No. 1108087 [Report]

How stingy is the IRS? I'm not used to paying taxes, and this is my first year I have made some serious cash. Stock and bond gains are easy enough, but here are some examples of things I am not sure if I should report:

>Get $1000 in birthday money
>Get $20 in birthday money
>Watch friend's dog for a week, obtain $60
>Sell $20 gift card for $18
>Find 5 dollar bill on the sidewalk

Anonymous 2016-02-24 02:13:06 Post No.1108091
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Anonymous 2016-02-24 02:13:06 Post No.1108091 [Report]

No to all those things.

Anonymous 2016-02-24 02:13:59 Post No.1108094
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Anonymous 2016-02-24 02:13:59 Post No.1108094 [Report]

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>>1108087
>reporting under the table cash earnings

don't do this

Anonymous 2016-02-24 02:22:07 Post No.1108107
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Anonymous 2016-02-24 02:22:07 Post No.1108107 [Report]

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>serious cash
>$1,103

jej

Anonymous 2016-02-24 02:49:01 Post No.1108149
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Anonymous 2016-02-24 02:49:01 Post No.1108149 [Report]

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>>1108107

Anonymous 2016-02-24 02:52:05 Post No.1108155
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Anonymous 2016-02-24 02:52:05 Post No.1108155 [Report]

Lol no

Anonymous 2016-02-24 03:11:06 Post No.1108199
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Anonymous 2016-02-24 03:11:06 Post No.1108199 [Report]

this is a troll thread
Please delete OP this board already has enough shit posting.

Anonymous 2016-02-24 03:20:26 Post No.1108225
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Anonymous 2016-02-24 03:20:26 Post No.1108225 [Report]

>>1108199
IDK man, that $2 loss on the gift card might bring in some serious return.

Anonymous 2016-02-24 03:23:34 Post No.1108230
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Anonymous 2016-02-24 03:23:34 Post No.1108230 [Report]

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>>1108199
Let's say hypothetically I did do this post to make people mad and I am not actually worried about the IRS fucking me in the anus without lubricant.

Then why did you bump it and give it more attention?

Anonymous 2016-02-24 03:46:09 Post No.1108268
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Anonymous 2016-02-24 03:46:09 Post No.1108268 [Report]

>>1108230
the thread has already been made and already pushed another thread off the board. Maybe the other thread that was pushed off was another shit post thread or maybe it was an ok thread, either way, this thread should be deleted due to the retardation behind it

Anonymous 2016-02-24 03:50:13 Post No.1108275
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Anonymous 2016-02-24 03:50:13 Post No.1108275 [Report]

>>1108268
Well the thread I pushed off wasn't responded to for a while, so it hardly matters.

I pretty much have my answer now, so you can either continue "biting" my "bait", or you can let this thread die so that when a new thread is made this one is eventually pushed off.

I await your decision.

Anonymous 2016-02-24 03:57:20 Post No.1108288
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Anonymous 2016-02-24 03:57:20 Post No.1108288 [Report]

>>1108087
You're fine on the gifts. The gift card was sold at a loss, so why would you pay taxes on it? As for the dog walking, any self employment venture only need be reported to the IRS if your net income is 400 dollars. This means you need 400 dollars profit to even be "required" to report it.