Paying Taxes on Side Jobs

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  1. #1
    SoonerBounce Guest
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    Paying Taxes on Side Jobs

    Say I had a side "job" that pays cash. I assume I am suppose to pay taxes on this. How would one pay taxes on cash income?

  2. #2
    Claim the income on your taxes and write a check for them.

  3. #3
    Aurora's Avatar
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    If they do not send you a 1099 then simply add it to your income and pay the taxes
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  4. #4
    SMC's Avatar
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    How have you managed to make it this far in life?

  5. #5
    you have to pay ss tax as well as income tax on it if nothing was withheld

  6. #6
    McRib's Avatar
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    Paying Taxes on Side Jobs

    Originally Posted by soonersmc View Post
    How have you managed to make it this far in life?
    Kinda seems like you're giving him too much credit, but I'd like to know, too.

  7. #7

    Re: Paying Taxes on Side Jobs

    Even TurboTax holds your hand through this process..
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  8. #8
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    Originally Posted by ArbySooner View Post
    Even TurboTax holds your hand through this process..
    I have just never had to do it. Never had income on the side.

  9. #9
    Aurora's Avatar
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    Originally Posted by SoonerBounce View Post
    I have just never had to do it. Never had income on the side.
    I am glad you finally started charging for your prostitution services

  10. #10
    Giving hand jobs for cash is illegal. Don't claim it so you avoid prostitution charges

  11. #11
    SoonerBounce Guest
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    Originally Posted by Aurora View Post
    I am glad you finally started charging for your prostitution services
    surprised it took this long...

  12. #12
    Aurora's Avatar
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    Originally Posted by soonerdm View Post
    Giving hand jobs for cash is illegal. Don't claim it so you avoid prostitution charges
    the old voice of experience

  13. #13
    Aurora's Avatar
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    Originally Posted by SoonerBounce View Post
    surprised it took this long...
    I know we are all slipping

  14. #14
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    Are you paid cash because you are more like an independent contractor than you are an employee?

    Three ways to handle this. [note: I am not an accountant. This post is for entertainment purposes only.]

    There is an "other income" line. I've used it for a small stipend payment of 300 or 500 bucks. Beyond that, I have used Schedule C-EZ and have also used Schedule C if I have expenses to deduct.
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  15. #15
    KCRuf/Nek's Avatar
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    So unless the people paying you reports it how will anyone know you earned it?

  16. #16
    Cabbage_town_kid's Avatar
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    Originally Posted by KCRuf/Nek View Post
    So unless the people paying you reports it how will anyone know you earned it?
    That's where I'm confused. If nobody knows pocket that shit, hide it from your wife and hit the titty club. It's a win win

  17. #17
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    Originally Posted by Cabbage_town_kid View Post
    That's where I'm confused. If nobody knows pocket that shit, hide it from your wife and hit the titty club. It's a win win
    Well first of all it's Bounce but I agree. I used to know someone that had a small day care and if the parents reported it on their taxes she would have to declare it as income. Otherwise why would you. I doubt if the lawn guy declares all his money.

  18. #18
    SoonerBounce Guest
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    Paying Taxes on Side Jobs

    Originally Posted by KCRuf/Nek View Post
    Well first of all it's Bounce but I agree. I used to know someone that had a small day care and if the parents reported it on their taxes she would have to declare it as income. Otherwise why would you. I doubt if the lawn guy declares all his money.
    How do you know if the parents report it?

  19. #19
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    Originally Posted by SoonerBounce View Post
    How do you know if the parents report it?
    They'll send you a 1099. If they dont, I say **** it. Just put in your pocket. Dont put it in your back account. If you ever get audited it could raise some flags. Just use the cash for stuff like buying groceries or better yet titty bar! No one will ever know

  20. #20
    Originally Posted by Lake_Bum View Post
    They'll send you a 1099. If they dont, I say **** it. Just put in your pocket. Dont put it in your back account. If you ever get audited it could raise some flags. Just use the cash for stuff like buying groceries or better yet titty bar! No one will ever know
    Parents don't issue 1099s. They report the child care deduction on their income tax return. They will need the caregivers SS# and address. If they request that I would imagine they would be claiming it.

    The best thing that's come from this is finding out Bounce is moonlighting as a babysitter.

  21. #21

    Re: Paying Taxes on Side Jobs

    Originally Posted by RockFlagandEagle View Post
    Parents don't issue 1099s. They report the child care deduction on their income tax return. They will need the caregivers SS# and address. If they request that I would imagine they would be claiming it.

    The best thing that's come from this is finding out Bounce is moonlighting as a babysitter.
    Or EIN for corporations (ex: non girl nexr door babysitting your kid).

  22. #22
    mgsooner's Avatar
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    Paying Taxes on Side Jobs

    So Bounce is doing spray tans on the side now?

  23. #23
    Originally Posted by ArbySooner View Post
    Or EIN for corporations (ex: non girl nexr door babysitting your kid).
    Correct.

  24. #24
    Lake_Bum's Avatar
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    Originally Posted by RockFlagandEagle View Post
    Parents don't issue 1099s. They report the child care deduction on their income tax return. They will need the caregivers SS# and address. If they request that I would imagine they would be claiming it.

    The best thing that's come from this is finding out Bounce is moonlighting as a babysitter.
    I miss read it. For some reason I was thinking he was talking about his side jods.

  25. #25
    Originally Posted by Lake_Bum View Post
    I miss read it. For some reason I was thinking he was talking about his side jods.
    I think he was...see my last statement of the post.

  26. #26
    AcousticSoup's Avatar
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    Paying Taxes on Side Jobs

    Originally Posted by SoonerBounce View Post
    surprised it took this long...
    We all knew where the income was coming from.

    It's not a shocker anymore.

  27. #27
    nekkedJ_bird's Avatar
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    In a Shoe with sooo man children...what to do?

    here is the form that the parents will fill out http://www.irs.gov/pub/irs-pdf/f2441.pdf

    and you can use this one http://www.irs.gov/pub/irs-pdf/f1040sc.pdf
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  28. #28
    S00nerJay's Avatar
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    If it's under 500, maybe 600 i forget, the employer will not file a 1099. Then it's solely up to you whether or not you wish to declare that income.

  29. #29
    OUMallen's Avatar
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    Originally Posted by soonerdm View Post
    Giving hand jobs for cash is illegal. Don't claim it so you avoid prostitution charges
    Tax code explicitly states that you have to report income from illegal activities. His choices are to be guilty of prostitution, or to be guilty of tax fraud AND prostitution.

  30. #30
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    Originally Posted by RockFlagandEagle View Post
    I think he was...see my last statement of the post.
    HA! Evidently I can't read today.

  31. #31
    nekkedJ_bird's Avatar
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    Originally Posted by OUMallen View Post
    Tax code explicitly states that you have to report income from illegal activities. His choices are to be guilty of prostitution, or to be guilty of tax fraud AND prostitution.
    tax evasion sends you to federal prison....... no thank you!!!! and you still have to pay the money back---sucky deal IMO

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