Welcome Guest. Sign in or Signup

3 Answers

How much would I have to pay in taxes for making money online?

Asked by: samserio 1105 views YA Discussion

I use websites like Swagbucks and I make a lot of money online. I know you get the W-9 tax form once you make $ 600, so how much would I have to pay?

I’m an 18 year old male, I’m single and I still live with my parents. I don’t have a job yet but I’m taking a year off to save money for college. I don’t have a car or my driver’s license yet, but I have my temps and can easily drive around.

So with a net worth of $ 600, how much would I have to pay in taxes? Just an estimate is fine.

How others found here:

  • swagbucks taxes
  • swagbucks tax form
  • swagbucks and taxes

3 Answers



  1. The Great Apophis on Aug 12, 2012 Reply

    Your a dependent, and I’d you make $ 600 with swagbucks you’ll be just about the luckiest 18 yo on earth because sites like that are pyramid schemes that rip you off. Anyway, you need to check with your parents, because if they claim you as a dependent they will file for you as part of their joint declaration. Or something like that, but the key is that you need to check with them before you file.

    0 Votes Thumb up 0 Votes Thumb down 0 Votes



  2. Cathi K on Aug 12, 2012 Reply

    Self employment taxes is 13.3% once you earn $ 400 or more. The send a 1099M once you get to 600 but you must report it at 400. State and federal taxes do not kick in until you earn more than 5950.

    0 Votes Thumb up 0 Votes Thumb down 0 Votes



  3. Judy on Aug 12, 2012 Reply

    Uh, what you MAKE is not your net worth.

    And whether they send you a W-9 or not, if you make over $ 400 for the year you are required to file a tax return. If you make under $ 5950, you won’t owe federal income tax, but you’ll owe 15.3%, for social security and medicare (it’s called self employment tax).

    0 Votes Thumb up 0 Votes Thumb down 0 Votes


Your Reply