Do Edenponits/free review items count towards earned income for taxes?

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Do Edenponits/free review items count towards earned income for taxes?

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Contributor: Jake'n'bake Jake'n'bake
I'm kind of curious because I don't want to be blindsided by the government. Is there a definitive answer on this?
03/08/2012
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Contributor: Petite Valentine Petite Valentine
Quote:
Originally posted by Jake'n'bake
I'm kind of curious because I don't want to be blindsided by the government. Is there a definitive answer on this?
I think Eden Points are "rebates" which are not taxed. However, I am neither an accountant nor a tax lawyer so I heartily suggest you find someone with better qualifications to answer this.
03/08/2012
Contributor: El-Jaro El-Jaro
Since EdenPoints have no actual cash value, you're ok there. If you're getting a product in exchange for a review on it and it's not a prize, you're ok there too.

If you're still unsure, consult your tax professional/tax preparer.
03/08/2012
Contributor: Jake'n'bake Jake'n'bake
Sweeeet. I figured it was like that but I wasn't 100% sure. Thanks guys.
03/08/2012
Contributor: Kissy Kissy
Quote:
Originally posted by El-Jaro
Since EdenPoints have no actual cash value, you're ok there. If you're getting a product in exchange for a review on it and it's not a prize, you're ok there too.

If you're still unsure, consult your tax professional/tax preparer.
Interesting.... I've talked to a professional (because I have a product review blog) and they told me I have to claim all free items I've gotten for review... even if I wrote a blog post on the items...

Do you have a specific place you found that you DON'T have to?? I would greatly appreciate not having to claim all this stuff!!!!
03/09/2012
Contributor: Petite Valentine Petite Valentine
Quote:
Originally posted by Kissy
Interesting.... I've talked to a professional (because I have a product review blog) and they told me I have to claim all free items I've gotten for review... even if I wrote a blog post on the items...

Do you have a specific place you ... more
Do you use the cost of running your blog as a deduction? In that instance I could see free items having to be claimed.
03/09/2012
Contributor: unfulfilled unfulfilled
Good luck finding the answer there.
03/09/2012
Contributor: El-Jaro El-Jaro
There's also a minimum for claiming and how it's claimed as well.

If you'd like, go ahead and send me a message off list and I'll help you however I can.
03/09/2012
Contributor: MistressDandelion MistressDandelion
I don't see why you should declare it. I mean, when you purchase things from the grocery store, and they give you a free pot of mayonnaise, you don't have to declare it... I know I wouldn't declare that.
06/20/2012
Contributor: El-Jaro El-Jaro
Quote:
Originally posted by MistressDandelion
I don't see why you should declare it. I mean, when you purchase things from the grocery store, and they give you a free pot of mayonnaise, you don't have to declare it... I know I wouldn't declare that.
Good point!

I'm always leery of free mayo though...
06/21/2012