Although tax season is over, tax questions arise year round. My husband is an experienced accountant and will be answering questions sent to me at cjwtaxpro@gmail.com with the subject line “Ask an Accountant”. See previous questions and answers HERE
Question:
I am a blogger who works with various affilate companies and vendors. Is it true that if one of them pays me less than $600 a year then I don’t have to claim that income?
Answer:
No, that is not true. You have to claim everything you make. However, if you earn less than $600 from a company, they do not have to send you a 1099. Basically the company is not required to report it but you still should.
*Please keep in mind this post is for informational purposes only and answers given are very general. Many things depend on individual circumstances. Please contact your personal accountant or financial advisor for your particular situation.
Not So Average Mama says
Interesting! I thought less than $600 was not reported. I have a question, how much are you allowed to make off of a hobby?
Erica says
I totally need your husbands help… being as I own a daycare in my home and have NO idea what to do about taxes and everything. I dont understand a bit.
Jill A. Collins says
I am an independent contractor (massage therapist) and loe when these articles pop up. It gives me answers to questions I haven’t even thought about yet! Thanks!