Weekly Work At Home Recap 04-16-2010

Links & ads you may click on this blog pay the bills & keep this site free for you. Thanks for supporting!

Tax Time

Hi Guys,

I hope all is well with you. I'm a bit under the weather and trying to fight off a cold. I think my daughter's 2 year old Dora The Explorer Birthday Extravaganza took it's toll on me last week. It's not because I actually did anything. I have a great wife that took care of all that stuff. I think it was all the "work" of managing everything from a far that did it to me. lol

Fortunately I'm away in Puerto Rico recovering under some warm sun and a cool beach breeze. lol I'll share some pictures next week. In any event, this week I just want to cover taxes since the deadline has passed. If I had a bit more foresight, I would have wrote about this last week instead of my stalker love of Apple products. But better late than never. I imagine that next year many of you will be making a lot of money working at home and Uncle Sam is going to want their cut. So let me explain the process.

Work At Home & Taxes

So if you've been involved with any work at home related company, you've probably noticed that many of them don't withhold taxes. I'm sure you thought to yourself well if they ain't asking then I'm not telling. But "Au Contraire Mon Frere"! The feds still want to get in your pockets.

The reason why the whole work at home business set up is appealing to companies is they can save on various costs such as health insurance, retirement and payroll expenses. Most of us are happy to sacrifice this stuff if it means we can sit in our house slippers and earn a living from the comfort of our lumpy couch. So everyone wins. However Uncle Sam wants to win too so you are expected to report this income you're receiving.

So let me break down how this works so you avoid any issues in the near future because I know all my loyal subscribers will be "stacking a lot of at home paper" ($$$) in 2010 so the following will probably apply to you.

99.9% of work at home opportunities work as follows. You're usually considered an independent contractor not an employee. When you reach about $600 $400 for a given company, you may be required to fill out a w-9 tax form. At the end of the year you'll receive a 1099 that is filed with the Feds and a copy is sent to you. You then take that to your accountant. They will ask you what expenses or deductions you have such as internet fees, computer, etc, etc. That will be subtracted from what you earned. If there is anything left, you'll be taxed on that when you send in your return. When you start making some larger sums of money, I would suggest getting incorporated. It definitely helps your tax burden.

So that's pretty much how the taxes work. Keep in mind some companies aren't based in the U.S. so they may not require this. But as a rule of thumb, you're suppose to report the income regardless. Please keep in mind I'm not a tax advisor or professional. You should always seek the advice of a professional tax advisor for questions regarding taxes as the information I provided here may not be accurate.

I hope this helps you next year. Speak to you soon.


Monday 4/12/2010

Legal Researcher

Seasonal PT Home Based Customer Service Representative

Customer Service/Manager

Medical Billing/Customer Service Representative

Customer Service Representative

Administrative Assistant

Customer Service Representative

Data Entry

Tuesday 4/13/2010

Writer/Editor/Researcher

Copy Editor

Virtual Assistant

Virtual Office Manager

Seamstress

Blog Post Editor

Fashion Illustrator

Virtual Assistant/Virtual Marketing Assistant

Health Writers

Wednesday 4/14/2010

Night Dispatcher

Data Entry/Researcher

Seamstress

Family Law Paralegal

After Hours CRS/Dispatcher

Bilingual Customer Service Representative

Customer Relationship Manager

Help Desk Analyst/Technical Support Specialist

Researcher/Compiler

Online Marketing Assistant

Thursday 04/15/2010

Virtual Assistant

Seamstress

Call Center Agents

Transcriptionist

Writer

Administrative Assistant

Customer Service/Sales

Customer Service/Researcher

Recommended Instant Work At Home Opportunities

Email Reader

Online Shoppers

Ad Clickers Wanted

Get Paid To Be Green

Mystery Shoppers

Online Chatters

Text Message Operators

Make Money With Used Books

Survey Taker

Work At Home With Amazon.com (Data Entry, Typing, etc)

Data Entry, Typing, & More

More Job Leads

HomeJobStop.com (Membership based site)

Click Here to Leave a Comment Below

Leave a Comment: