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Opinion Outpost wants me to do a w-9, what should I do?

ThadChrist 7 10 July 16, 2013 at 06:36 PM in Question
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I know what a w-9 is. This is the only "income" I make (Opinion Outpost) and I use $50 a month of it to pay my internet bill to even take surveys. So could I count that as a business expense?

(heres what my Opinion Outpost account reads "We are unable to process your payment. Please check that your request does not exceed the daily limit of $300.
If you reside in the United States and you've claimed $600 or more in a calendar year, you will need to submit a Form W-9.
Please contact the helpdesk for further information." )

Basically I worried about how much I'll have to pay in taxes cause as I said this is the only money I make. So should I:

Contact OO and do the w-9? Roughly how much would Iowe in taxes on 1099 if its as simple as this being my only income & $50 internet monthly business expense.

or deactivate this account and start another one, so technically i still have only one account or is this a no no?

Any suggestions would be helpful thank you Smilie

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#2
call them on it
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#3
If you try to start another account, they'll catch you. Taxation is based on your overall income level. If that's truly the only money you make, you won't have anything to worry about at tax time.
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#4
I'm a bit confused about it being your only income, yet counting it as a business expense. But, that's not my business. You can either fill out the form, or you can start doing surveys again on Jan 1, 2014. That's basically the only options you have without digging yourself into some hole.
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#5
If you want to cash out anymore you have to do the form. They report the income to the IRS as required by law. If your income is below a certain amount (ask a tax person or the IRS for the actual amount based on your circumstances) then you don't have to pay taxes. If you try to open another account you will be caught and in more trouble for trying to commit fraud. Call them with any questions you have, but it's pretty much been laid out for you.
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#6
Ok cool thanks guys. As far as the question/statement "I'm a bit confused about it being your only income, yet counting it as a business expense." Well I meant usually w-9 are sent out to contractors so they eventually get 1099 or self employed individuals do the 1099didnt know if Opinion Outpost could be counted as "self employment" thus counting the internet bill as a deduction, as its needed to do the "work" for Opinion Outpost, more of a question not a statement of fact on my part.

I was mainly worried about being taxed where i couldnt pay and going to jail or something. To explain yes it is my only income cause I live with my grandparent who I take care off thats how I can get by without a "traditional" income currently. I just wanted to do the safe route, I'm not looking for tips on evading the law or trying to screw people over.

So I already contacted Opinion Outpost via they're generic contact form (couldn't find their "helpdesk"). Will they send me w-9 or something then fill it out? And after I get them my w-9 info, do they then let me cash out again? And as I said thats my only income so say i shouldnt be taxed unless I attained some ungodly amount with the surveys that's not even possible. Does anybody know this amount? Just worried about being taxed and not having the money cause truthful as I said this is all my income as I live with grandparent and am caretaker.

I just read "if you are under age 65 and single, you must file a tax return if you earn $9,750 or more, which is the sum of the 2012 standard deduction for a single taxpayer plus one exemption." perhaps that is the threshold I was looking for so if I dont make that amount or more I won't be taxed (I hope) I thought I was going to be taxed just for making 600 bucks the whole year

edit:
@mamegoma

Ok i wasworried cause I read about self-employment tax and it being 15% of income or something,so i thought maybe whatever I make at Opinion Outpost would be taxed by 15%, thats why also asked about internet being a business deduction, just in case if that 15% applied to me.
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Last edited by ThadChrist July 16, 2013 at 08:45 PM.
#7
They'll likely send you a 1099-MISC which you do have to report as income. If it's only $50 a month you'll only owe the government like $40. Don't worry too much.
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#8
Report OO to the appropriate labor groups for paying less than minimum wage.
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#9
6 Research Drive
Shelton, Connecticut 06484
United States
Tel: 877-254-1234
Contact: helpdesk@opinionoutpost.com
Operated by: Survey Sampling International, LLC
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#10
Quote from ThadChrist View Post :
Ok cool thanks guys. As far as the question/statement "I'm a bit confused about it being your only income, yet counting it as a business expense." Well I meant usually w-9 are sent out to contractors so they eventually get 1099 or self employed individuals do the 1099didnt know if Opinion Outpost could be counted as "self employment" thus counting the internet bill as a deduction, as its needed to do the "work" for Opinion Outpost, more of a question not a statement of fact on my part.

I was mainly worried about being taxed where i couldnt pay and going to jail or something. To explain yes it is my only income cause I live with my grandparent who I take care off thats how I can get by without a "traditional" income currently. I just wanted to do the safe route, I'm not looking for tips on evading the law or trying to screw people over.

So I already contacted Opinion Outpost via they're generic contact form (couldn't find their "helpdesk"). Will they send me w-9 or something then fill it out? And after I get them my w-9 info, do they then let me cash out again? And as I said thats my only income so say i shouldnt be taxed unless I attained some ungodly amount with the surveys that's not even possible. Does anybody know this amount? Just worried about being taxed and not having the money cause truthful as I said this is all my income as I live with grandparent and am caretaker.

I just read "if you are under age 65 and single, you must file a tax return if you earn $9,750 or more, which is the sum of the 2012 standard deduction for a single taxpayer plus one exemption." perhaps that is the threshold I was looking for so if I dont make that amount or more I won't be taxed (I hope) I thought I was going to be taxed just for making 600 bucks the whole year

edit:
@mamegoma

Ok i wasworried cause I read about self-employment tax and it being 15% of income or something,so i thought maybe whatever I make at Opinion Outpost would be taxed by 15%, thats why also asked about internet being a business deduction, just in case if that 15% applied to me.
I don't know anything about that.

The bottom line is: yes, you fill out the W9 and pay what you owe, if anything, OR you stop taking surveys until January 1st, unless someone here is a tax professional and can give you specific advice (you never know).
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#11
I can keep taking surveys I know that much. The only thing that actually counts and can be taxed is what I've cashed out. I just can't CASH OUT until Jan 1st if I don't want to be taxed more, that's assuming there isn't an overall total income minimum before being taxed. <That's actually now the answer I'm looking for.
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#12
Quote from ThadChrist View Post :
I can keep taking surveys I know that much. The only thing that actually counts and can be taxed is what I've cashed out. I just can't CASH OUT until Jan 1st if I don't want to be taxed more, that's assuming there isn't an overall total income minimum before being taxed. <That's actually now the answer I'm looking for.
It would be better to fill out the forms. If you keep taking surveys and don't cash out until next year, you'd be having the exact same problem without any benefits. Theoretically, you could have built up enough money, cash out next year and then need another form the next day. As someone previously mentioned, get in contact with the IRS and ask them about it. I guess you could fill out the form, submit it and choose not not do any additional surveys for the remainder of the year if the amount is too high. Even with the form, legally, they still can't report anything under $600. There's still other survey companies and work-at-home gigs that you could utilize to pay the internet, other than OO. IDK.
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#13
I talked to my lady friend who works for the IRS, she said I could just report it as other income without paying se tax as long as its under 10k, they won't assess the se tax. or if my business expenses make my EIC more than my OO income I can even get money back Smilie (And yes she said non-employee comp from a 1099 misc can be reported on sch c even if you don't have a business.)

Normally, it would be Opinion out post income x .9235 x .133 would be how much i owedif I had no business expenses.

So If i can get money back i will if not I will do the other form where I pay nothing.

Imstill waiting on OO to get back with meto tell me what to do. Dont know if they want me to send W-9 to a certain address or if i can do it online etc
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Last edited by ThadChrist July 17, 2013 at 06:20 PM.
#14
Print out the form and send it to O.O.'s address in Connecticut. I mailed my form last year on a Monday and was able to cash out by Thursday.
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#15
^Yeah they finally got back to me. The form is slightly confusing. I assume I give my name, address, social security number and check the Individual/Sole proprietor checkbox and that I am not a exempt payee.

I was just confused if I needed to put any Opinion Outpost info on there like check LLC cause they're an LLC or use their address. But since they're the one requesting it, it makes sense i fill in MY info and not theirs cause they already know and have their info. (But if iwanted i could put Opinion Outpost info in Requester's name and address area if i wanted but this is optional and since I'm sending it to them really not necessary)

Anyway does that sound correct?
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