Tax laws for online survey payments.
When I participate in online surveys that pay me, how do I know what taxes and how much I need to pay?
Asked on 5/31/06, 11:14 am
1 Answer from Attorneys
Paul Nidich
Paul A. Nidich, Attorney-at-Law
Re: Tax laws for online survey payments.
Payments of this kind should go on a Schedule C, Sole Proprietorship. You calculate your expenses, deduct from gross income, and this gives you a profit or loss. If you have a profit, yuo enter the profit on the appropriate line on the first page of your Form 1040, and you calculate your self-employment tax on Schedule SE-EZ. Follow the instructions from there.
Answered on 5/31/06, 11:21 am
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