Most webmaster know. (End of year taxes)

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  • TheWatcher
    Confirmed User
    • May 2001
    • 563
    #1

    Most webmaster know. (End of year taxes)

    Kinda of a stupid question but still is pertenant(sp) at the end of the year when taxes are collected and such, do most webmaster pay them or forget them? No taxes are collected on sale or anything just wondering.

    I mean, my roomy use to work at a car dealership and he selected to have his taxes taken out each paycheck and he showed me his pay stubs and it was a fairly large chunk from each check he got. Why i chose to use him as a example we are in a commission sales as a car salesman is.

    Whats your input?
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    • JakeR
      Confirmed User
      • May 2001
      • 1760
      #2
      Originally posted by TheWatcher:
      do most webmaster pay them or forget them?
      I hope they don't forget to pay them!
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        • pimplink
          Confirmed User
          • Jun 2001
          • 9535
          #3
          You get a tax reporting form from your sponsors called a 1099 form. This fulfills their obligation to the IRS to report business payments.

          The IRS then uses the 1099's to fuck shit up of businesses who don't report that income.

          That's one of the unfortunate factors of living in the US--TAXES. I guess it could be worse... Sweden's tax rate is over 50% for top category earners.

          Originally posted by TheWatcher:
          Kinda of a stupid question but still is pertenant(sp) at the end of the year when taxes are collected and such, do most webmaster pay them or forget them? No taxes are collected on sale or anything just wondering.

          I mean, my roomy use to work at a car dealership and he selected to have his taxes taken out each paycheck and he showed me his pay stubs and it was a fairly large chunk from each check he got. Why i chose to use him as a example we are in a commission sales as a car salesman is.

          Whats your input?

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            • Midnight
              Confirmed User
              • Jun 2001
              • 330
              #4
              Being paid on a 1099 basis in the US is just an independent contractor status. It will help if you set up monthly or quarterly payments to the IRS during the course of the year. This way you are not hit with it all at once.

              I might suggest, if you are going to get serious about this, that you incorporate and have all your revenue paid to the corporate entity. You can get an accounting firm to set up a monthly draw for yourself and that way you have tax records and representation at tax time.

              Just a few things to consider,



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                • evildick
                  #5
                  What about people in foreign countries getting paid by US companies? For example, someone living in Canada?

                  Is there a way for us to get nailed for this income? Or are we OK as long as we don't get audited?

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                    • Naughty
                      Confirmed User
                      • Jul 2001
                      • 6482
                      #6
                      I guess everybody is okay as long as you do not get audited



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                        • ulfie
                          Registered User
                          • Aug 2001
                          • 30
                          #7
                          "do most webmaster pay them or forget them? "

                          Forgetting to pay your taxes is a lot like forgetting you have cancer. It may be comforting for awhile but eventually it will kill you.


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                            • playa
                              Confirmed User
                              • Feb 2001
                              • 6432
                              #8
                              one thing about US tax laws they let you write off alot of stuff,,
                              love writing off my cable modem, office equipment, and hosting fees,,,knocks that shit write off,,

                              i luv my accountant

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                                • TheWatcher
                                  Confirmed User
                                  • May 2001
                                  • 563
                                  #9
                                  Ahh thanks for the replies, very informative. =o) Keep em coming!
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                                    • ztik
                                      Confirmed User
                                      • Aug 2001
                                      • 5196
                                      #10
                                      taxes? wtf are taxes?
                                      .

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                                        • ElvsManson
                                          Registered User
                                          • Jul 2001
                                          • 17
                                          #11
                                          there are certain affilate programs that are base outside of the US that don't require your SSN or Tax ID #.

                                          Not that I advacate not paying taxes.
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                                            • magnatique
                                              Confirmed User
                                              • Jan 2001
                                              • 1830
                                              #12
                                              my accountant said it would be easy to hide all that money since we don't receive a thing from our sponsors beeing in canada..

                                              but we just have a setting with my company where we told them how much we make, how much we spent, we calculate the ammount taxable by the company..

                                              then my company gives me a divident or pay me a salary and we pay tax accordingly.

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                                                • TheFLY
                                                  So Fucking Banned
                                                  • Jan 2001
                                                  • 11856
                                                  #13
                                                  i bought my cardboard box just after I forgot what taxes where...

                                                  taxes?

                                                  huh?

                                                  ummmm...


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