wtf is this karmaloop rep tax form w9 sh*t?

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Props Slaps
 02-03-2009, 03:14 PM         #1
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IsaL 
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wtf is this karmaloop rep tax form w9 sh*t?
 

 
WTF MAN i got this email from them do we really have to fill this sh*t out im only 17 i dont have no fu*king income and all that bullsh*t

32 comments for "wtf is this karmaloop rep tax form w9 sh*t?"

 9 years ago '05        #2
BONZ! 14 heat pts14
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yeah you do, if you dont it may catch up with you....17 you an adult
 9 years ago '04        #3
ruff 6 heat pts
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18.

Don't worry about it.
 02-03-2009, 03:40 PM         #4
IsaL  OP
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so i can fill this sh*t out and never worry about it? like i dont have to tell my folks that i filled this sh*t out and it wont effect them in anyway?
and also
so does the IRS take a % of money that u make from kloop as a rep??

props
 9 years ago '05        #5
BONZ! 14 heat pts14
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 IsaL said:
so i can fill this sh*t out and never worry about it? like i dont have to tell my folks that i filled this sh*t out and it wont effect them in anyway?
and also
so does the IRS take a % of money that u make from kloop as a rep??

props
Yeah, ok kloop does their taxes like everybody else

You are an employee for kloop, the more workers they have...the less taxes they have to pay.

you my sir, are a tax write-off :greetings10:
 9 years ago '04        #6
ruff 6 heat pts
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Yep, your parents must love you alot around this time.
 9 years ago '04        #7
JFamis 235 heat pts235
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 ruff said:
18.

Don't worry about it.
As long as you're of legal working age, which is 14, you have to pay taxes. Since you received a monetary benefit from Karma Loop, you have to pay taxes on that amount.

Did you really give Karma Loop your social security number so you could get a percentage off on clothes?
 9 years ago '05        #8
Dopeskill 
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 JFamis said:
As long as you're of legal working age, which is 14, you have to pay taxes. Since you received a monetary benefit from Karma Loop, you have to pay taxes on that amount.

Did you really give Karma Loop your social security number so you could get a percentage off on clothes?
I don't recall ever giving KL my SSN when I signed up...
 9 years ago '04        #9
BunDLeZ 
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 BONZ! said:
Yeah, ok kloop does their taxes like everybody else

You are an employee for kloop, the more workers they have...the less taxes they have to pay.

you my sir, are a tax write-off :greetings10:
LMAO!!!!!!!!! :applause:
 9 years ago '06        #10
01seay 83 heat pts83
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 BONZ! said:
Yeah, ok kloop does their taxes like everybody else

You are an employee for kloop, the more workers they have...the less taxes they have to pay.

you my sir, are a tax write-off :greetings10:
lol

He's basically right...but if you have any questions or concerns email Dennis -
 9 years ago '04        #11
2 FN LoW 10 heat pts10
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If you dont know how to handle your taxes and income dont join up for programs like this...

How you gonna say you dont have an income when your making an income from Karmaloop? You obviously have no idea what your doing...Email Dennis, talk to your parents and get an accountant...
 9 years ago '05        #12
Dopeskill 
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Uhhhhh, actually you don't really have to pay income taxes unless you earn over a certain amount, that amount being something like $5000. Just fill your name, SSN (MAKE SURE YOU GET IT RIGHT), and check Exempt Payee.
 02-09-2009, 10:04 AM         #13
bceasey  OP
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like dude said if u didnt make enough then u dont pay but if we get the stimulus u should still get a check like last year all u had to do was file
 02-09-2009, 10:40 AM         #14
IsaL  OP
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 2 FN LoW said:
If you dont know how to handle your taxes and income dont join up for programs like this...

How you gonna say you dont have an income when your making an income from Karmaloop? You obviously have no idea what your doing...Email Dennis, talk to your parents and get an accountant...
i dont have an income. i dont take any cash from kloop the only thing i do is use those points for free clothes
 9 years ago '05        #15
Dopeskill 
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 J-R said:
is this sh*t a joke....why wouldnt they tell you this when u sign up i mean u help them get money so its like we have 2 pay them back now??
Nah man you just fill the form out (takes like 5 minutes) and send it back to them (not the IRS). It's just so KL can report you as like a temporary employee You don't have to pay them anything, UNLESS you fu*k up when you fill out the W-9.


Last edited by Dopeskill; 02-09-2009 at 02:44 PM..
 9 years ago '04        #16
2 FN LoW 10 heat pts10
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 J-R said:
is this sh*t a joke....why wouldnt they tell you this when u sign up i mean u help them get money so its like we have 2 pay them back now??
your not paying htem, your paying the IRS...its called taxes...everybody who collects an income has to pay taxes...If you are collecting money from Karmaloop you are getting it TAX FREE...They are not taking taxes out of the payments....So the IRS will tax you on it....


They dont tell you this cause for most people common sense kicks in and they already know what the deal is....Your working for Karmaloop...Collecting some sort of income, tax free....So at the end of the year you gotta pay taxes on it, where as Karmaloop will use it as a tax write off and get money off their taxes...
 02-10-2009, 03:20 PM         #17
luda06  OP
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Karmaloop sonning n*ggas with repcodes? sh*t's hilarious.
 9 years ago '04        #18
2 FN LoW 10 heat pts10
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 luda06 said:
Karmaloop sonning n*ggas with repcodes? sh*t's hilarious.
nah, just dudes expecting to make money the legal way, tax free lol...

legal money & tax free do not go together
 02-15-2009, 04:50 PM         #19
mr.hades  OP
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 2 FN LoW said:
nah, just dudes expecting to make money the legal way, tax free lol...

legal money & tax free do not go together
yo 2FN...


So I just got a 1099 form stating that I gotta pay taxes on the 1200$ I recieved as "income" but never actually recieved money. I took all of my compensation in "gift cards." Shouldnt i be exempt?

Because I knew about the taxes but I thought if I took gift cards I wouldnt have to pay tax.

This sh*ts gona eat up my tax return isnt it?

And also... this was from like the last 2 years... Why did they all of a sudden send me a total for like 2 years of repping?


And fu*k, the first time I forgot to check "exempt" so I sent it again later and checked exempt but that was after the 6th... oh no. I fu*ked up didnt I? fu*kkkkkksh*ttttttttttttttttttt


Last edited by mr.hades; 02-15-2009 at 05:09 PM..
 9 years ago '04        #20
2 FN LoW 10 heat pts10
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 mr.hades said:
yo 2FN...


So I just got a 1099 form stating that I gotta pay taxes on the 1200$ I recieved as "income" but never actually recieved money. I took all of my compensation in "gift cards." Shouldnt i be exempt?

Because I knew about the taxes but I thought if I took gift cards I wouldnt have to pay tax.

This sh*ts gona eat up my tax return isnt it?

And also... this was from like the last 2 years... Why did they all of a sudden send me a total for like 2 years of repping?


And fu*k, the first time I forgot to check "exempt" so I sent it again later and checked exempt but that was after the 6th... oh no. I fu*ked up didnt I? fu*kkkkkksh*ttttttttttttttttttt

You may have not gotten a form from Karmaloop last year cause you may have not made over 600 dollars for the year...Legally you dont have the claim the income if its not more then 600 dollars...

As for the gift cards, im not all that sure..I was wondering that myself...I havent taken any of my money in gift cards, i always had them transfer the money to my paypal...However, i would believe it still needs to be claimed cause technically speaking you still somewhat collected an income from Karmaloop...The income you made you took in gift cards...So its kinda like they did pay you, just paid you in a way in which you have to put the money back into their company...

Im not an accountant or anything like that, i have somebody do all this sh*t for me, i just hand over the forms...You could try giving Denise an email and see what he says or if you have somebody who does your taxes annually hit them up and ask them cause they will without a doubt know all the ins and outs when it comes to what you need to claim.

I only know the basics here, so sorry if i cant answer your questions 100%


Did you get the 1099 form from Karamloop in the mail? Look at it, what does it say for Nonemployee compensation? If 1,200 is listed there that means Karmaloop is claiming they paid you 1,200 tax free..


Last edited by 2 FN LoW; 02-15-2009 at 07:01 PM..
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