11-08-2006, 10:30 PM
hi all! i am getting ready to get back into some freelance writing and have an "employer" who will be paying me cash for my writing. the payments will come in the form of a personal check.
according to what i can find on the IRS website, i do not have to report this type of money as income since it comes from a personal checking account and it is not considered cash by the IRS.
the employer will not be claiming this as a business expense in any way and i will not receive any tax forms like a 1090. it will strictly be him paying me for my services with his personal check. It will be well over the $10,000 IRS limit for cash payments.
i do not have a business, i am only doing this on the side to get some money to pay off student loans. i have thoroughly checked out the employer and this deal is completely legit.
can anyone enlighten me as to whether or not i HAVE to claim this as income? i'm thinking that if he doesn't report it as outgoing money, i don't have to report it as incoming money. i don't want to do anything illegal, so any help would be greatly appreciated.
according to what i can find on the IRS website, i do not have to report this type of money as income since it comes from a personal checking account and it is not considered cash by the IRS.
the employer will not be claiming this as a business expense in any way and i will not receive any tax forms like a 1090. it will strictly be him paying me for my services with his personal check. It will be well over the $10,000 IRS limit for cash payments.
i do not have a business, i am only doing this on the side to get some money to pay off student loans. i have thoroughly checked out the employer and this deal is completely legit.
can anyone enlighten me as to whether or not i HAVE to claim this as income? i'm thinking that if he doesn't report it as outgoing money, i don't have to report it as incoming money. i don't want to do anything illegal, so any help would be greatly appreciated.
