MaxBounty Taxes?

[jameswc]

Does MaxBounty send out any US Tax Forms such as a W-2? I know they are Canadian and I do not think they do, but I would like to be sure.

 

[MaxSteve]

Hi James,

MaxBounty does NOT send out any tax forms.

 

[Spades]

How are taxes handled? Obviously US citizens still claim the income... right?

 

[MaxSteve]

How are taxes handled? Obviously US citizens still claim the income... right?

I'm not a US citizen, so I'm not exactly sure how your taxes are handled, but I'd feel confident that it works the same there as it does in Canada. Meaning, you are supposed to declare all income, whether or not you get any formal paperwork for it.

 

[Korrupt]

I'm no accountant myself, but last year when a few 1099's didn't come through, my accountant just shrugged them off and said it wasn't necessary to pay them if their not on the books.

Although they weren't hundreds of thousands of dollars or anything.. So I wouldn't worry about it, claim the income if you feel obligued to, or just confirm with your accountant that it's not necessary and spend it in other useful ways.

 

[jameswc]

Thank you so very much! I am extremely happy to hear your responses and appreciate it.

 

[BigWill]

I'm no accountant myself, but last year when a few 1099's didn't come through, my accountant just shrugged them off and said it wasn't necessary to pay them if their not on the books.

I would punch my accountant in the face if she said that lol

They ARE in the books, its called your bank account

OP: Just delcare the income as you normally would forms or no forms

 

[AdHustler]

I would punch my accountant in the face if she said that lol

They ARE in the books, its called your bank account

OP: Just delcare the income as you normally would forms or no forms

yea sounds like his accountant is a retard

 

[tvmatt]

I would punch my accountant in the face if she said that lol

They ARE in the books, its called your bank account

OP: Just delcare the income as you normally would forms or no forms

Agreed. I'd fire any accountant that told me that. If there's record of a check being deposited, a bank transfer being made, etc..., there's a record. If you ever get audited, you're screwed.

Report all of your income, it's not worth the legal trouble when you're caught cheating the IRS.

 

[Zephyrm]

I would punch my accountant in the face if she said that lol

They ARE in the books, its called your bank account

OP: Just delcare the income as you normally would forms or no forms

LOL yeah, I laughed when I read that reply. It's still income coming into your account so it is best to claim it.