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gorunfasterz
Forums Member
Joined: 15 Feb 2012
Posts: 15
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#161 · Posted: 17 Feb 2012 22:02
Exactly what is a tax advisor? You mean the people that do your taxes for you and give you the 1040? Is there any way I can not pay any of this?
Because all my bids goes to 100% repurchase and I join only 2 weeks, but I plan to keep it 100% for 6 month. So what happens if I don't ever withdraw anything? I find this BS because I will be making 50k a year and I won't be able to pay my taxes off because I haven't even withdraw anything. This sounds like a loss for me.
So what can a tax advisor do for me and how can i get rid of all of this. I don't think this is fair. All my withdraw will be going to the government, not in my pockets. What is the point for ZR doing this?
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gorunfasterz
Forums Member
Joined: 15 Feb 2012
Posts: 15
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#162 · Posted: 18 Feb 2012 11:52
http://www.moneychimp.com/features/tax_brackets.htm
Okay so is Zeek worth it with their new tax system?
* Keeping my repurchase at 100% for 1 year, estimating my bear minimum income.
Scenario 1: I began in November, investing the amount $2000. Assuming that Monday, Tuesday, Wednesday, and Thursday daily profit sharing is 2%; while Friday, Saturday, and Sunday is 1%; this results in a profit share of $40 for Weekdays, while $20 on Weekends. Now lets say there is 30 day in each Months, this means there is 18 days of 2% and 1% of 12 days - this would result in 50% of $2000 totaling to $1000 a month (excluding the 100% repurchase, I am just estimating my yearly minimum if I do repurchase, I know I would make more). Now that would allow us to assume that I would make $1000 a month and there is 12 month a year, this would allow me to make $12,000 in one year - the minimum amount.
Now of course I would be making more, and I know that. I can estimate it about $15,000 - $20,000 a year. Okay, here is the problem. 1099!!! This mean I would need to pay 12.17% in tax resulting in $1,825. That is just tax alone. With social security and all medical and all that BS, would be $3,000 at least.
Though I make $12,000 a year in Zeekrewards, all my earning goes through repurchase.
Scenario 2: Okay, same as the top, but lets say that I decide to keep my repurchase at 50%. This mean I would make $500 a month - in a year $6000. However, my yearly income would be $15,000 - $20,000 still. And my tax would still be 12.17% tax resulting in 1,825 and with all the social security and that junk is $3,000. Now is $3,000 even worth it? I mean right now, I am getting paid to go to school, and I get over $3000 and I get insurance and medical stuff (Not saying that I am really getting free health insurance and getting paid to go to school, but what if I did because I know a couple of my clients does and they are in it. I feel bad because Zeek lied to us about this Tax stuff. They should have said it before we join. They gave this news in like almost 2012. Should I drop out).
And Don't forget I got a job. So my yearly income would be much more than this. This is zeek alone. Though I would be still making money, with 50% repurhcase, this isn't even enough to pay for tax and to live off. This is a bit fustrating.
Now people have said that they can reduce this tax stuff using a tax advisor to do it for you, but reducing won't help at all. Also we need a way to get rid of this. I don't even understand why Zeek implanted this kind of BS, it doesn't make sense to me that you have to pay for income, if you don't receive anything. How are people suppose to pay off tax when everything they did was repurchase. What benefit do they get except with screwing with people.
Give me your opinion. I feel like dropping out and telling all my clients they should too. Tell me what you think . I don't think it is worth it. Maybe for those who has a bunch in their matrix and not going to school and maybe if you are retired.
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migpro
Forums Member
Joined: 19 Feb 2012
Posts: 1
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#163 · Posted: 19 Feb 2012 06:36
gorunfasterz
Calm down a little... Here are a few key points to realize:
1. You did not invest $2000, you bought $2000 in sample bids to give to your customers so they can bid on the auction and hopefully buy more when they run out. On your home page, at the very bottom, you will find the following information:
IMPORTANT: The following paragraph MUST BE READ ALOUD whenever the ZeekRewards compensation plan is presented verbally or by telephone, or included in it's entirety when communicating in writing:
"If you make a purchase from ZeekRewards you are purchasing a Premium eCommerce subscription or you are purchasing bids to give away as samples. You are NOT purchasing stock or any other form of "investment" or equity. You MUST actually use the bids that you purchase or give them away as samples to help grow your business. Affiliates who present our products to others in a misleading manner or in a way that leads the buyer to believe he or she is making an investment or purchasing equities will be terminated and all commissions and awards will be forfeited. Buyers MUST read the entire How It Works and Get Paid pages on the ZeekRewards website and the Legal Disclaimers."
2. Like Annette has already suggested, you are best to speak with a tax adviser if you do not understand something with regard to taxes.
3. Your mathematics are incorrect because if you are only repurchasing 50%, it is impossible to have the same amount of profit after 1 year as you would have if you were repurchasing at 100%.
4. Zeek is not lying about anything... it is not a secret in the USA that people receive a 1099 and have to pay taxes on their income.
Otherwise, just so you realize, if you are repurchasing at 100% and assuming the RPP was 1.5% average (which of course is not guaranteed) after 1 year, your VIP point total would actually be closer to the 43,000 mark, rather than the 15,000 to 20,000 you have guestimated.
Now, I am not a tax person, nor am I from the USA, so I am only sharing my opinion here, not advising. However I did listen to the Zeek call regarding taxes, which you should also do.
What I do know however is that if I bought 2000 sample bids to give to my customers, so that I can earn VIP points and those VIP points earned me money, which I then bought more sample bids with, to earn more VIP points - this is not just income, it is also expenses. The sample bids are an expense for you to do your business, if you don't buy them, you cannot earn RPP rewards, which is your income.
Once again, you must contact your tax adviser and have everything in order to explain how this business works. But, from what I can see, if you are at 100% repurchase, your expenses and income are probably a complete wash... so, maybe there is no taxes? Until of course you withdraw the money, which mean you no longer have the expense of buying more bids @ 1/1. At that point, you will pay taxes.
My understanding is that Zeek will have the necessary information you will require, in addition to your 1099, to do your taxes properly and show your expenses inside of Zeek.
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Favour4030
Forums Member
Joined: 15 Feb 2012
Posts: 5
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#164 · Posted: 19 Feb 2012 09:07
I don't think any legit website would ask you to make any payment on any thing. There are many other websites where you can make huge amount of money, all you have to do is make research on google and read work at home ebooks, you would discover a secret work at home website where you can earn a reasonable money which is unknown to people. Just like I did.
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Elysium
Forums Member
Joined: 25 Oct 2008
Posts: 239
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#165 · Posted: 20 Feb 2012 15:36 · Edited by: Elysium
migpro
Hi migpro, welcome to the forum. 
Thanks for your informative post!
gorunfasterz
If you are not subscribed to ZeekRewards News, be sure to visit the site as they have more current information about the 1099s, your back office year-end report, questions & answers, and an upcoming call you can attend.
~Annette
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MultiWriter
Forums Member
Joined: 20 Feb 2012
Posts: 2
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#166 · Posted: 20 Feb 2012 18:00
Thanks, Shelterman - I just started in Zeekl Rewards as a Diamond. I believe that this is a real stable company - and I've seen a lot over the years.
One of my friends is making $200 a day and the other $800 a day. And they can actually take it out. That's handy. lol
I appreciate the leadership call link.
Do you have any special tricks or tools that you use to promote for affiliates?
Best of luck to you all!
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gorunfasterz
Forums Member
Joined: 15 Feb 2012
Posts: 15
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#167 · Posted: 20 Feb 2012 21:06
I don't see how you got 43,000. Also, I think Zeek should had said it way earlier about these taxes.
Also expenses don't count as income?
This tax stuff is getting me a headche. IDK if I should drop it or not. I can't even speak to one tax advisor. They won't help me. They just keep telling me that if I got 1099 then I should report it and file it.
I will do a follow up on what happens.
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kenzx
Forums Member
Joined: 19 Jan 2012
Posts: 12
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#168 · Posted: 20 Feb 2012 23:15
Hello everyone,
I'm not a tax attorney. This is just my 2 cents.
I hope this 1099 tax thing don't scare people into quitting ZR. Once I get the 1099 then I will take it over to my tax attorney. I expect ZR will be treated much like my other businesses. Mainly I only have to worry about paying the tax on what I actually put in my pocket.
I buy houses so some time a 6-figures 1099 will show up but everyone knows I don't keep all that. After deducting property cost, repair cost, sale commissions, utilities, only a fraction is left as net profit and that's what I have to pay income taxes on.
Say ZR paid me $20K but I rolled back $15K (75%) to buy more bids and promote the business, that $15K is my business promotion marketing expense. That's my write off. I only have to pay the tax on the $5K (25%) that I put in my pocket. If you have not cash out at all then you shouldn't have to worry about anything (100% write off). I am still trying to find out if ZR can provide me a year end statement that I can use as a receipt otherwise I will just have to print out the whole history for my record.
Don't let 1099 scare you. I joined ZR only about 4.5 month ago. I'm having a wonderful time cashing out couple $K a month now and you can too. Best and wishes to all members.
Kenzx
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gorunfasterz
Forums Member
Joined: 15 Feb 2012
Posts: 15
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#169 · Posted: 22 Feb 2012 20:34
Okay, that solves it. I understand now. But there is some error in my receipt reporting, it said that I received 138 dollars. I never received that. I remember my bonus point being that, but it was used to purchase bids, not in my pocket.
Also, is anyone CHECK taking over 2 week to receive? There was a 2 week delay to get paid, and I was suppose to get paid on 2/13/12, and today is over a week, and nothing!!! No check!?
How long do you guys take to get your checks?
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ehdrmfka
Forums Member
Joined: 22 Feb 2012
Posts: 2
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#170 · Posted: 22 Feb 2012 21:28
Hi, I'm new to Zeekrewards and not good at English, sorry for that.
I have one question, is it possible to receive my earnings into the credit card which I registered to pay for membership and 5cc?
thx in advance.
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jinglz87
Forums Member
Joined: 23 Feb 2012
Posts: 11
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#171 · Posted: 23 Feb 2012 07:30
Hi everyone.
I am so glad to came across this site.
I recently just signed up with ZR, learn from a relative (non-english speaker, I dont even know how she does it!)
Anyway, at first I was worry and I read a lots into it before I begin.
So, I signed up as Diamond, and I purchased 2000 bids, (they finally updated that on my account) BUT, for some reason, I did not get the daily profit award?!!! I am confused, bc I know I posted the ad ( I do it once in the morning and one at night- since I was confused by the deadline to submit 5pm each day!) I brought the 5cc, to give away bid to customers. From what I know, the system automatically does it for us right? So, my question is why I did not get my award? I wonder if anyone had similar situation in the past. I was really happy when my bid purchased was finally updated and I can now start earning little more than just the bonus points and I was ready to go sponsor people now. But, now I dunno. I had e-mail them but I know it will take 7-10 business day to clear this up. I cant wait that long, waiting is so painful!!
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jinglz87
Forums Member
Joined: 23 Feb 2012
Posts: 11
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#172 · Posted: 23 Feb 2012 09:48
I have another question about this 'staking policy" since I do not quite get it. (please dont copy and paste the answer from ZR since I had already read over and over and get wanna get an more in detail explanation!) If I want to sponsor someone, they cannot be someone living in the same address as me, right? For example: I wanted to introduce this to my brothers but we are in the same household, so they need to sign up under the original sponsor who introduced me first into ZR? I just want to make sure I am following the policy. Also, is there limit how many we can sponsor at one time? Thanks.
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clark kent
Forums Member
Joined: 24 Feb 2012
Posts: 9
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#173 · Posted: 24 Feb 2012 04:35
jinglz87
Thats correct you cannot sponsor someone who is living with you, that by definition is stacking. I started Zeek Rewards over a month ago and was going to sign my girlfriend under me (who was going to purchase 1000 VIP bids, I found out that we cant do that as we live together. hmmm maybe she might have to move out now
To answer your original question, there is no limit to how many you can sponsor.
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gorunfasterz
Forums Member
Joined: 15 Feb 2012
Posts: 15
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#174 · Posted: 24 Feb 2012 15:27
Silver Affiliate
Can give away up to 100 Sample Bids per Zeekler customer
So does that mean, per day or month.
And does the customer count if it come from the 5cc?
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clark kent
Forums Member
Joined: 24 Feb 2012
Posts: 9
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#175 · Posted: 24 Feb 2012 19:04
jinglz87
You dont get the award the day you buy your bids the awards starts the following day. Since you posted a day or so ago you should now be getting your daily profit sharing award provided you have posted your Zeekler ad for the day.
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Lemxid
Forums Member
Joined: 25 Feb 2012
Posts: 1
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#176 · Posted: 25 Feb 2012 09:43
Hi everyone, Im an affiliate and Been with the company for 2 months and trying to make the best decision. I still have a big concern. I do not want to purchase so many bids all at once til I know that the Payout checks actually do get issued. I am worried about purchasing so many bids and ready to cash out and lose my cash rewards. Has anyone actually ever received a cash reward check or getting residual income?
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kenzx
Forums Member
Joined: 19 Jan 2012
Posts: 12
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#177 · Posted: 25 Feb 2012 11:35
jinglz87
Hello Jinglz87 and everyone.
If you posted your ad on time and have signed up for 5cc then yes you should see some $$$. If you don't see it, your ad may have missed the cycle run time. I recommend doing your ad first thing in the morning so it does not expire any time during the night when the computer cycle is running. If you did everything correctly but still no credit, then you should contact the customer service to look into it. I had a friend whom did not get proper credit until we got in touch with the customer service. It was no big deal and ZR corrected it quickly. With the rapid growth, system upgrade, and all the moving, training going on, it happens.
Regarding checks, once you requested for a check, go to your COMMISSION report (NOT profit pool report). ZR will post a date when your check will be mail out. You should see "pending" status. Once the check is mailed then you will see the check serial number instead of pending status. It has been taking about 3 weeks for me from the time I requested to the time I have a check in my hand.
This month I'm starting to see points retiring. This includes money I initial put in plus what I have earned 90 days ago. I'm also cashing out 15% daily so my overall vip point is not growing as fast (my daily points earning minus 15 % cash out minus points retired). However it is still growing but I will postpone cashing out 20% till April.
Kenzx.
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MissBunny
Forums Member
Joined: 25 Feb 2012
Posts: 1
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#178 · Posted: 25 Feb 2012 13:56
Hi Guys,
I'm looking into joining ZeekRewards but I'm really skeptical. Has anyone really received actual payment from them? If so, how are you paid? Any problems being paid?
Thanks for the feedback.
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gorunfasterz
Forums Member
Joined: 15 Feb 2012
Posts: 15
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#179 · Posted: 27 Feb 2012 12:04
Silver Affiliate
Can give away up to 100 Sample Bids per Zeekler customer
So does that mean, per day or month.
And does the customer count if it come from the 5cc?
Can someone please answer?
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jinglz87
Forums Member
Joined: 23 Feb 2012
Posts: 11
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#180 · Posted: 27 Feb 2012 18:52
clark_kent
Right, when I called in to double-check, they told me that if your significant other live with you, they cannot sign under you since that is consider stacking too since you guys are "almost" family member. That too bad. But then it is okay for roommate living in same household...
I know the daily profit sharing award is like 24 hours behind. BUT I really did not see my award for 2/21/2012. I even tried looked into the transaction history. It was missing. It has both 2/20 and 2/22 but NOT 2/21. I really dont know why. I was wondering if ANYONE else have this problem or somehow, it is just me? I called in 2 times already and all they can tell me is "they are running behind" after waiting 45 minutes. =/
kenzx
I always post my ads 2 times a day, one in the morning after I get up and one at night before I sleep. That way in case I forget one, I think the other one will cover for me since I know we must submit ads by 5pm each day. I know I had did everything correctly but still no daily award for that day 2/21. I may have to call them again and see what is going on? The person at the customer service was not helpful at all, she didnt even know any answer that I asked her. I guess she is new trained staff..
ZeekRewards News just posted "Goodbye 5cc - Hello PRC!!" what exactly is this? Oh man, I just got started in ZR and now, this new change before I am even adjusted.. so, do we get a refund if we had already paid for 5cc? I just sponsor two people today and I signed up 5cc just this afternoon for them! And, do we really get FREE customer or what is this so-called "PRC" I really dont get it. Please help from those who are more experienced with ZR. Thank you all.
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