Okay, I don't know much about taxes - and I was wondering, how much do you have to make online in order to report your taxes? Isn't it over $6,000 a year? If you submit your taxes - how much is the percentage? So, let's say you made over $6,000 - what is the tax percentage of your pay check?
Generally over $400 of self-employment income I believe under IRS rules. Your state may have income tax too which would be seperate. You nmig David
I think it is $500 you must report anything above that. That is for the year and state will want taxes if they have any. If you work and pay taxes right now you might just need to add the income to your tax form and pay extra at tax time. If you make more and go into new tax bracket i think it will be required toi file quartly taxes each year.
It's just my opinion but Money made online shouldn't be taxable, I mean in what country did you earn it? The internet is global and there isn't a global tax. Well not yet anyway. Damn governments, they're too obsessed with tax.
How do they track that? I mean you could just ask your clients to note them as donations or simply delete all traces of transactions...?
Normally, earning is taxed in the country it originates. Some country do have double taxation standard too, means the earning is taxed in the home country too, when income is bought in. And substantially huge part of online earning community might be avoiding paying tax altogether (I may me wrong saying this). But fact remains global ... Most of us do not like being taxed on income. After all its very HARD EARN money.