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Started By
Message
Do I need to pay taxes on this type of income?
Posted on 7/10/16 at 7:10 pm
Posted on 7/10/16 at 7:10 pm
I have a lady friend that gives me money for my company. I know the rule; I'll try to get pictures that won't get me banned when she comes by on tuesday.
I hadn't thought about it until I just saw that she left another $100 laying on my nightstand from a few hours ago, but I think that I might be guilty of tax evasion. Would getting paid for my "company" be considered income under section 61, or could I classify this as a gift? I mean I do put in work, but I would do it for free. She's not the prettiest thing in the world, but she's got a tight little body. Also, it's like she is married to an Asian guy.
What say the OT? I didn't want to bother poodle brain with another tax question.
Eta: She says not to worry about the money, because it is her husbands. Who would I 1099? I've made A LOT more than $600 this year.
I hadn't thought about it until I just saw that she left another $100 laying on my nightstand from a few hours ago, but I think that I might be guilty of tax evasion. Would getting paid for my "company" be considered income under section 61, or could I classify this as a gift? I mean I do put in work, but I would do it for free. She's not the prettiest thing in the world, but she's got a tight little body. Also, it's like she is married to an Asian guy.
What say the OT? I didn't want to bother poodle brain with another tax question.
Eta: She says not to worry about the money, because it is her husbands. Who would I 1099? I've made A LOT more than $600 this year.
This post was edited on 7/10/16 at 7:16 pm
12
Posted on 7/10/16 at 7:11 pm to TSLG
TLDR
But if you have to ask then probably.
But if you have to ask then probably.
Posted on 7/10/16 at 7:12 pm to TSLG
$100? Guess you aren't very good in bed.
Posted on 7/10/16 at 7:12 pm to TSLG
Subtle brag you man whore
Posted on 7/10/16 at 7:12 pm to TSLG
Totally believable.
Posted on 7/10/16 at 7:13 pm to TSLG
Gigolo income is not taxable.
Posted on 7/10/16 at 7:13 pm to TSLG
Was going to suggest money board, but you came to the right place.
Posted on 7/10/16 at 7:14 pm to TSLG
quote:
lady friend
Posted on 7/10/16 at 7:15 pm to Shepherd
Nice break from the protest. Well played.
BTW. You will probably get audited IRL now. Them IRS baws don't frick about.
BTW. You will probably get audited IRL now. Them IRS baws don't frick about.
Posted on 7/10/16 at 7:16 pm to TSLG
None of this happened
Posted on 7/10/16 at 7:17 pm to TSLG
Do you love her?
Posted on 7/10/16 at 7:19 pm to Walt OReilly
quote:
Do you love her?
I love part of her. Does this change the tax situation. I could lie during an audit if needed.
Posted on 7/10/16 at 7:25 pm to TSLG
If you do any type of service then yes it is taxable. It is only a gift if the giver receives no benefit.
Posted on 7/10/16 at 7:27 pm to Mini
quote:
It is only a gift if the giver receives no benefit.
But what if the recipient received no benefit?
Posted on 7/10/16 at 7:28 pm to TSLG
Even though you're full of shite and none of this happened, yeah that would be taxable.
Posted on 7/10/16 at 7:31 pm to yoga girl
The recipient receives cash which is a benefit..
Posted on 7/10/16 at 7:32 pm to yoga girl
quote:
But what if the recipient received no benefit?
You is a meany pants, yoga girl. I laughed though. :)
Posted on 7/10/16 at 7:34 pm to yoga girl
quote:
$100? Guess you aren't very good in bed.
Usually it's $150. I don't know what happened today.
Posted on 7/10/16 at 7:36 pm to TSLG
As long as you have "the amount she negligently dropped and left behind" to reimburse her, then you can return the money to her (until after the audit of course). This way there is no income, nor expense on her part, technically. You were only taking care of her misplaced cash until such time as able to return it to her. 
Posted on 7/10/16 at 8:14 pm to TSLG
quote:
Usually it's $150. I don't know what happened today.
$150 still screams "not that great"
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