Epoch / Taxes

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  • fibermice
    Registered User
    • Mar 2005
    • 29
    #1

    Epoch / Taxes

    If my epoch revenue for 2004 shows that for example:

    12k was earned.
    2k went to processing fees


    On my tax forms i put 12 gross
    10k net

    2k went to processing fees?

    do i specify who it went to? Paycom Inc? Epoch Inc?

    Epoch hasnt sent me any tax papers i am kind of confused.
    Tags: None
    • killshot
      Confirmed User
      • Dec 2004
      • 456
      #2
      well hopefully you are claiming more deductions than just the processing fees...
      and you dont need to specify who it went to.. but you need to keep records of who it to.

        Comment

        • After Shock Media
          It's coming look busy
          • Mar 2001
          • 35299
          #3
          They are just a brokering/transaction agency. They did not actually pay you, the sponsors and or your affiliates did. Thus this would put them into an expense category.

          [email protected] ICQ:135982156 AIM: Aftershockmed1a MSN: [email protected]

            Comment

            • fibermice
              Registered User
              • Mar 2005
              • 29
              #4
              when you go to the financial reports on epoch
              and then do a date range earnings report.

              from January 1 2004
              to December 31 2004

              there is a GROSS TOTAL
              and then there is a CO NET TOTAL

              which one do they report to IRS?

                Comment

                • JasonB
                  Confirmed User
                  • Nov 2001
                  • 1183
                  #5
                  Only pay attention to the checks you actually received. ..not what epoch's stats say.

                    Comment

                    • MandyBlake
                      The one and only!
                      • Nov 2002
                      • 17761
                      #6
                      Originally posted by JasonB
                      Only pay attention to the checks you actually received. ..not what epoch's stats say.
                      yeah.
                      just worry about what you actually put in your bank account. its much less hassle that way.
                      Mandy's Playhouse
                      Her First Fat Girl
                      If you're interested in promoting my sites, ICQ me! 178411921

                        Comment

                        • directfiesta
                          Too lazy to set a custom title
                          • Oct 2002
                          • 30155
                          #7
                          Originally posted by MandyBlake
                          yeah.
                          just worry about what you actually put in your bank account. its much less hassle that way.
                          True... Try to explain to IRS that you made 12 000. 00 but only c9ollected 10 0000.00 ... That is looking for trouble.
                          I know that Asspimple is stoopid ... As he says, it is a FACT !

                          But I can't figure out how he can breathe or type , at the same time ....

                            Comment

                            • Laurie
                              Confirmed User
                              • Apr 2002
                              • 108
                              #8
                              i think you claim what you made from the program as income, and then deduct the rest as processing fees, somewhere on your schedule c or 1065, whichever form you are using.

                                Comment

                                • fibermice
                                  Registered User
                                  • Mar 2005
                                  • 29
                                  #9
                                  Originally posted by directfiesta
                                  True... Try to explain to IRS that you made 12 000. 00 but only c9ollected 10 0000.00 ... That is looking for trouble.

                                  Well i agree, but doesn't Epoch report $12000 to IRS as a paid amount to me?

                                    Comment

                                    • JSA Matt
                                      So Fucking Banned
                                      • Aug 2003
                                      • 5464
                                      #10
                                      You should report what is on your W2, not what is in the financial reports..

                                        Comment

                                        • BV
                                          wtf
                                          • Sep 2001
                                          • 10914
                                          #11
                                          Originally posted by JasonB
                                          Only pay attention to the checks you actually received. ...

                                          ditto.........

                                            Comment

                                            • bdld
                                              $100,000
                                              • Dec 2001
                                              • 11452
                                              #12
                                              yup report what you were paid, not whatever numbers they say.

                                                Comment

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