easy money for taking part in medical trials

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I do this often. I just got $200 and a free meal for 4 hours in the clinical research center. Tomorrow I'll get $40 for a blood draw and a to fill in a questionnaire. (that will take about 15 minutes of my time...I can do it between classes). I got $300 and free food for a week for a couple of muscle biopsies, $50 to have some dermatological patch testing done on my back, and another $50 to spit in a cup and have a peak respiratory flow measurement made. If you don't mind getting poked and prodded there is some money to be made out there. And once the researchers get to know you, they'll recommend you to their research friends and they'll come looking for you.
 
You have to be careful though. If you get more than $600 from any one paying entity in 1 year you'll have to pay taxes on that money. So try not to make more than that in one year or make sure the researching institute is different everytime. For the NIH, all of the institutes are paid from the same account: US Treasury.
 
katiekate said:
You have to be careful though. If you get more than $600 from any one paying entity in 1 year you'll have to pay taxes on that money. So try not to make more than that in one year or make sure the researching institute is different everytime. For the NIH, all of the institutes are paid from the same account: US Treasury.

Are you sure about that? I was told by my parent's tax preparer last week that as long as I didn't make over a total of $5,132 last year that I don't need to file a tax return. And for any job, I should tell my employer not to withhold any part of my paycheck (except anything mandatory like social security and medicare).

Where did you hear the $600 rule?
 
UserNameNeeded said:
Are you sure about that? I was told by my parent's tax preparer last week that as long as I didn't make over a total of $5,132 last year that I don't need to file a tax return. And for any job, I should tell my employer not to withhold any part of my paycheck (except anything mandatory like social security and medicare).

Where did you hear the $600 rule?


I had thought it was $1000. In any case, many agencies tell you what the amount is (above which they are required to report your income for tax purposes).
 
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