Share your thoughts on several topics like finance, Real Estate, Credit, or simply learn to know each other!

Question Do you have to pay taxes on all earnings?

ADS

Emily Park

Advanced Member
Occupation
Unemployed - looking
Joined
Oct 20, 2020
Messages
12
Reaction score
2
Points
3
Occupation
Unemployed - looking
I am new to a whole lot of things, but that's on me. I want to learn and grow from this, so this may be a dumb question, but do you have to pay taxes on all earnings? Even if you make cash for odd jobs? I'm just curious, because I heard you don't always need to do so unless it's over a certain amount of profit. Is this true?
 

Financee

Advanced Member
Occupation
Blogger
Joined
Nov 12, 2020
Messages
25
Reaction score
0
Points
1
Occupation
Blogger
Most people will say you have to include anything over $50 but I believe it is optional. I feel that unless you are making over $500 for a single job, you shouldn't have to pay taxes on it because it is a one off. I am speaking of jobs like babysitting, cleaning, and so on.
 

Subscribe to our Newsletter

Join our finance & real estate community now our newsletter.

Find member

Top