Do I have to file taxes for Neverblueads?
- Thread starter aim high
- Start date
- Status
That's a risk you need to decide whether or not to take. As a U.S. resident or citizen it's your responsibility to pay the required taxes on your income, regardless of where it comes from. To answer your question YES, if you're trying to follow the rules you'll need to include those earnings on your tax return.
As many posts have suggested before:
1) keep your own records of income/spend - many of these companies are Canadian and therefore do not issue 1099s.
2) If you're unsure what to do go see a good accountant.
But as they've all said ^^^ in the US you have to report all income.
1) keep your own records of income/spend - many of these companies are Canadian and therefore do not issue 1099s.
2) If you're unsure what to do go see a good accountant.
But as they've all said ^^^ in the US you have to report all income.
All revenue has to be reported in the US regardless of where it came from.
In terms of writing off expenses. Yes, you can write off your expenses. Some things to consider:
Ad payments (everything you paid to run ads)
Cable/Internet bill
Cost of Computer
Telephone bill
etc.
Sounds like you should see an accountant. They can walk you through everything and as many, many, many, many people have said on here before: they will save you more than they cost.
But you're only allowed to write off the % of those things that was actually attributed to your marketing expense, right? So if you use the computer for 25% marketing and 75% porn, you can only claim 25% of it as an expense.
And to the OP I don't think you have to pay taxes on 2-3k, if I'm not mistaken the cutoff is like 4 or 5, in profit.
I think you're right, but the OP is in a weird situation. If you worked a regular job, even if you only make 2-3k, they still automatically deduct your taxes. You file your return and you get a refund.
Is it different if you just don't file a return?
Talk to an accountant.
- Status