Taxes On Income For Paid Surveys
Paid Survey Income and Taxes
Do you need to claim income earned from online paid surveys on your tax returns? That’s a question many people are asking and many people are answering; with various answers.
“Do I have to pay taxes on my survey income?
You should check with your accountant. Survey income is considered earned as an “independent contractor” and no taxes are withheld from your payments. If you earned more than $600 from any one survey company, they will send you a form “1099” and the IRS listing your income from them for the year.”
They add, and I reiterate,
“Please note that we are not accountants and are not qualified to provide accounting, tax, or other legal advice. Our answer is based on our understanding of the tax laws, and how we handle this situation ourselves. Always check with your accountant or other tax professional.”
Each survey site seems to have a different answer. One says you don’t have to report earnings if they’re under $600. Another says everything earned needs to be reported. It’s true that if you earn less than $600 from an individual survey site, they won’t send you a 1099 form without a request from you.
Every person’s situation is different though, even when it comes to paid surveys and taxes. This is an issue that needs the attention of a trained accountant; someone who can study each person’s situation, and provide a totally accurate answer. Federal and state tax laws differ, too, complicating the situation even more.
It is fine to get information here, and on other sites, but to be completely sure, as you should be on something this important, I recommend you consult a trained accountant.
