Whew, that was easy!
I’m sure there are plenty of ways to make $50 in less than an hour and a half, but few are as easy (or legal) as participating in a marketing focus group. Plus, you get cookies!
Last night, I was part of a focus group session for a local marketing company. The night involved watching a series of ads about recycling and waste reduction and then answering some questions and discussing what we liked and what we didn’t like. There were 8 people in our group, and it was quite interesting to see just how quickly the group dynamics and roles become apparent. If nothing else, the process reminded me of why I will never, ever elect a trial by jury. It was actually a fun experience though, especially for someone like me who takes particular joy in debating playing devil’s advocate. And did I mention we got cookies?
Participating in a focus group is a great way to earn a little side cash and collect a few “snowflakes”, as Dave Ramsey disciples would say. These little sources of side income can really add up, and aren’t particularly onerous. I spoke with the organizer after the session and asked her how someone could get involved in these groups if he or she was interested, and I was told that their agency maintains a list of interested parties. The agency collects information about age, marital status, education, occupation, and income to help target each group for the particular product being pitched and maintains a roster of interested parties. To ensure a diversity of participants, they also do random calls to find new people, which is how I was recruited. I’d definitely attend another session, and I’d encourage anyone else looking for a quick and easy $50 to do the same. You may also get some delicious cookies!
But this does leave me with a very minor ethical dilemma- my “honorarium” was given to me in cash, and no tax information was collected. Basically, it’s meant to be tax free money, and I’m probably the only person obstinate enough to even question this. But it is technically income, and according to the Queen, all income is taxable. While I am always looking for creative ways to reduce my tax burden (that dictum from Learned Hand about man being free to arrange his affairs to reduce taxes tends to be my motto), that doesn’t include knowingly excluding income. Many people (contractors, private childcare, etc.) like cash payments because they view it as “tax free”- it’s not, your fraud is just much harder to detect. After all my belligerence and indignation at these misrepresentations, can I really in good faith not report this as income? Did I actually make $31 tonight instead of $50? Is a little underreporting of income any different from a lot? Boy, I sure can suck the fun out of just about anything…
To summarize:
- Focus groups can be an occasional source of easy money;
- Marketing agency cookies are the best; and
- MoneyGrubbingLawyer is likely going to white collar prison for tax evasion.
Photo by [jess h.].
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How did you hear about the focus group? Was it through a mail advertisement? $50 sounds like good easy money and you were fed as well
I’ll include this in my post http://thepassivedad.com/2008/09/fast-quick-money-links-to-help-in-an-emergency/
Scott, I got involved through a random phone call from the agency. My wife generally dismisses any survey or marketing call with “not interested”, but I love them! There’s nothing like someone calling me asking to hear my opinions and complaints- normally, nobody listens to me :).
If you’re interested, you can contact a marketing agency and let them know that’d you’d be willing to assist- most hold focus groups fairly regularly and would love volunteers.
My mom books people for focus groups and has the hardest time sometimes. Most people come in by going to the website and signing up and get put on her database, but new people, even though they sign up, are sometimes skeptical of this. They’re all “free money, must be a scam or them trying to sell you something” but its not its legit. and some of these people, especially in hteir early 20s are so rude, my mom tends to book more older people. and they kil me just not showing up, like this doesnt matter. But its a legit way to make extra money and also its tax free up to $500 a year. after that your supposed to list it as extra income like a lotto win etc.. but until then its like casino money under $500 its tax free.
I probably shouldn’t tell you this because based on the above post, you’d probably be the first person in history to declare this taxable benefit. But then again, maybe you already know and already have the record! lol
This is actually my “favorite” fact from the income tax act. Any frequent flyer miles/airmiles etc. earned while traveling for business purposes (on your employers tab) are a taxable benefit. You are supposed to claim the benefit based on the value of the points used towards a “normal” or “reasonable” flight.
But then again, knowing the CRA, if anyone WAS crazy enough to report this taxable benefit they’d probably get audited on the reasonableness of the value of the points
Bridge, you’re abolutely right and I hate you for reminding me! I don’t know of anyone who has claimed freqeunt flyer miles or hotel rewards, and I suspect that CRA would take a close look if you did. My own paranoia generally forces me to claim just about everything, but even I haven’t gone that far… yet.