about tax for affiliate commission payment

JOHN GHERSINI

New member
Jan 20, 2010
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Hello, is there anybody know about the tax policy for affiliate commission.
Actually, my commission payment is paid to me through bank, do I need to pay tax for the commission payment, if I do, then how much is it levied? I m a novice, would appreciate for anyone's knowledge share. :1zhelp:
 


Hey John,

You do need to pay taxes on the commission payment. It's income. I'd contact an accountant to figure out how much you have to pay.
 
yes, it's just like any other income
the amount you have to pay depends on many factors, where you live, other income sources etc
 
don't forget to report expense.
Do a little tax research and show them to your accountant/ tax preparer
Some thing can be tax write off.
 
well, don't take this as 100% tax advice (not my fault if anything goes wrong), but usually as an individual, a company will send you a 1099 form for dealing with them, and you file it as income on your taxes. Advertising expenses are deductible
 
Just a quick tip for next year. Make sure to be paying your estimated taxes quarterly or the IRS can come after you with fines and interest. You don't want to attract their attention, especially if you are making some "questionable" deductions at the end of the year.