Tax Liability Question?

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05-29-2007, 11:27 AM
PSL1013

Tax Liability Question?

I see quite a few people have banners that have earned well over the $600 limit that is posted on SR website...Since I just hit the $400 mark after this mornings credits, I was wondering about this? Is this just for the amount you cash out for in a year or your total earnings for the year? :confused:

Tax Liability:
All federal, state, local, and other taxes on rewards earned and prizes won are the sole responsibility of the members. If at any time you would like a total of the amount that you have cashed out for in a given year, please contact us. If you cash out or win a total of $600 or more in a calendar year, you will be required to provide Sunshine Rewards with a valid W-9 tax form before receiving any more rewards.
05-29-2007, 01:42 PM
Chelley00

I am not a tax accountant, but I "believe" that it would just be on what you actually receive since you don't have the total earnings in hand unless you cash out.
05-29-2007, 02:00 PM
Soccer Princess

The banners show your lifetime total on SR. So my $4XX.XX is what I have earned since I joined LAST year. If you look at Current Earnings on the SR page it breaks it down for you by year and quarter I believe. HTH!
05-29-2007, 02:16 PM
SunshineGirl

The tax liability is a tricky thing because you do not have to pay taxes on any of the rebates that you receive. Because our site is mainly the rebates with the addition of some offers, a CPA advised us that at this time we do not need to issue 1099s. We do have it in our terms in the event that we would at some point need to start issuing them.
05-29-2007, 04:25 PM
m 'n c

Hey Tricia - what is a "rebate" and what is an "offer" on your site? Basically what is the difference?
05-29-2007, 04:45 PM
SunshineGirl

Rebates would be anything where you are paying for something and getting credits then back from us. So any shopping. Or anything like Roll and Grow, Perfect Patch, etc. Or even the things where you are paying shipping and handling to try something and then getting the credits back to cover it.

Then offers would be the freebies. It would be VERY difficult to hit $600 in freebies alone. You would have to pretty much be doing the daily surveys every single day of the year plus get credit for every one of the newsletter/survey offers we have listed.
05-30-2007, 09:22 AM
PSL1013

Quote:

Originally Posted by SunshineGirl

The tax liability is a tricky thing because you do not have to pay taxes on any of the rebates that you receive. Because our site is mainly the rebates with the addition of some offers, a CPA advised us that at this time we do not need to issue 1099s. We do have it in our terms in the event that we would at some point need to start issuing them.

Thanks! This is exactly the information I wanted to hear! :)