Play games to get paid

[Icekitties]

For the apps like misfit where you get paid for playing games. Do we get tax on it even if you didn't make much while working part time on top of it? If it does get taxes on it, is there anyway to pay for taxes online instead of waiting til tax time knowing that may owe money. 

[Vanessa A]

Yes.  if you are getting paid to play games, then this income would be taxed.  If you are doing this as a side job, then this would be subject to Self-Employment Tax.

You can make payments to cover your taxes directly on the IRS website. Your self-employment taxes are 15.3% of what you earn.  Then you also have your regular ordinary income taxes and don't forget your state and local.  You can generally pay on their websites as well.

And yes, you should make payments as you go throughout the year so you do not get a penalty for underpayment. 

[Icekitties]

For 15.3% (.153) self employed tax, this is every week when we do cash out from PayPal? (I know its every platform there are to get paid to pay out while I only do paypal) Is the 15.3% also includes other taxes beside federal that you mentioned?

[Vanessa A]

No.  The 15.3% is ONLY the FICA taxes.  This is your social security and medicare taxes.  If you work for someone, your employer pays half, while you pay the other half.  When self-employed, you pay the entire amount.

Then you have to pay your ordinary income taxes or federal taxes.  This is based on your tax bracket.  

You only need to make the payments quarterly, not each time you get paid.  They are generally due on the 15th day of the month following each quarter (April, June, September and January) 

A Guide to Paying Quarterly Taxes