Hey all! I'm (very) new here. I signed up for ACL and am looking forward to doing some mystery shopping. I am NOT looking to do it full time. Perhaps a couple a month. I have an income under $20,000 a year and am a college student. So, my question is: do I need to keep track of any income from ACL shopping? It will be such a trivial amount, but, of course, I don't want the IRS to get cranky with me. Usually I just get my W-2 papers in the mail from my employers and since I do not make a lot of money, I've never had to keep track of my income through receipts and such.
Yes, you need to report all your income. Even if it makes no difference on the bottom line, reporting it is required by the tax code. My mystery shopping/auditing income makes no difference in the taxes I owe, but I am required to report it and I do. Sleep well.
Mary Davis Nowell. Based close to Fort Worth. Shopping Interstate 20 east and west, Interstate 35 north and south.
I guess that the question is now, why are you doing it if you don't want to make money with it? This type of work is addictive to the person that knows that there is money to be made. You are in school and this offers the perfect flexability for a college student. When you realize that you can make some pretty good money, you will want to do more. Enjoy shopping!
Little lady shopping Southern Louisiana & Mississippi.
(this is me)
Copy all checks, record all costs, miles, internet service, lunch while you do your paperwork...... The 10,000 you might make, when offset by the cots of you running your "business" can be to your benefit. Just keep good records.MS can be a great business, sincerely.