tax question - affiliate networks and W2's
- Thread starter Stanley
- Start date
- Status
They send out 1099s. You are not employed by the affiliate networks.
W2s and 1099s should be post-marked no later than January 31st. After that point a company is technically in violation. The IRS will not take action until mid February though. At that time if you still do not have your documents you can contact the IRS and they will contact the company to find out what is up.
You have to have a minimum payout to get a 1099 as well. Not sure what it is, but if you did any amount of reasonable business you will likely get one.
W2s and 1099s should be post-marked no later than January 31st. After that point a company is technically in violation. The IRS will not take action until mid February though. At that time if you still do not have your documents you can contact the IRS and they will contact the company to find out what is up.
You have to have a minimum payout to get a 1099 as well. Not sure what it is, but if you did any amount of reasonable business you will likely get one.
If you earned at least $600 from a given company they are required to send you a 1099 and report your earnings to the IRS.
Even if a company has not sent you a 1099, you're supposed (and supposed is very liberal), report all income you've made.
AzoogleAds didn't send me a 1099 for the low-mid $x,xxx I made with them in FY, 2006, but I'm not sure if they reported that to the IRS, even though I didn't receive anything...
AzoogleAds didn't send me a 1099 for the low-mid $x,xxx I made with them in FY, 2006, but I'm not sure if they reported that to the IRS, even though I didn't receive anything...
Even good ole' Uncle Sam can't possibly monitor every single person who is making money online. A lot of affiliate programs don't even use your SSN (especially ones not located in the USA who don't give a shit about our tax laws).
But... if you want to be 100% safe, the best thing to do would be to include that amount in your claim anyway (even if you haven't been mailed the proper forms. That way you can always cover your ass later if need be)... but if you don't, I don't really think you'd be caught unless you were a really big fish.
I know of people who haven't paid taxes on their "extra earnings" (under the table earnings, internet earnings, etc.) in over 10 years. They just file their normal claims (from their 9-5 job) and no one ever gets suspicious.
However, if you make MOST or ALL of your money online, and that is ALL you are claiming, you'd better do your best to get those forms or at least estimate your earnings to the best of your knowledge.
After all, all tax forms include the phrase "... is correct... to the best of my knowledge.." Leaves some room to cover your ass. You can always play "ignorant" if it comes down to it. ALWAYS works when it comes to taxes.
Anyway, just my two cents.
But... if you want to be 100% safe, the best thing to do would be to include that amount in your claim anyway (even if you haven't been mailed the proper forms. That way you can always cover your ass later if need be)... but if you don't, I don't really think you'd be caught unless you were a really big fish.
I know of people who haven't paid taxes on their "extra earnings" (under the table earnings, internet earnings, etc.) in over 10 years. They just file their normal claims (from their 9-5 job) and no one ever gets suspicious.
However, if you make MOST or ALL of your money online, and that is ALL you are claiming, you'd better do your best to get those forms or at least estimate your earnings to the best of your knowledge.
After all, all tax forms include the phrase "... is correct... to the best of my knowledge.." Leaves some room to cover your ass. You can always play "ignorant" if it comes down to it. ALWAYS works when it comes to taxes.
Anyway, just my two cents.
Yeah, I know exactly what you're talking about
Exactly. You hardly ever hear of people getting busting for fraud or evasion unless they're some bigtime dumbass.
The common man can get away with tax murder. Year after sweet year.
I'm planning on declaring a loss on my company for the first two years maybe, but then eventually I'm going to have to start claiming gains and actually paying taxes....
There's no way I'm going to pay taxes on random money I received from Paypal or stuff, but I did just print out some receipts of money that LEFT my Paypal account....hahaha
- Status