hello i made around 11k with crakrevenue, im not sure how to report this im from the usa. its just a blog nothing big .. any experiences? thanks !
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It will be ordinary income, subject to the appropriate tax unless you were foresighted enough to have earned it through a a corporation so you could reduce the income of that corporation to zip.
If you earned it as a sole proprietor, you will have to itemize to legally get your taxes down.
This is the sort of question you should have found the answer to BEFORE you earned the money.
"The world is full of obvious things which nobody by any chance ever observes." -
Claim the porn exemption.Comment
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go to an accountant.Comment
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Assuming ya got a 1099-MISC tax form for the 11k, throw it on a Schedule C and claim it as Affiliate Marketing income, expense your domain renewal for the blog, web hosting fees for the blog, advertising expenses google, link buys etc... keep receipts for every expense you make during the year so when tax time comes each of your sites has a folder of receipts organized instead of having to dig for 12 months of paypal receipts. You could also use turbo tax and it will generate the schedule C for ya and walk ya along. Basic response based on sole proprietor with just cash in minus expenses, if your looking to go write off crazy phone, car, office, meals and test the loopholes find a good accountant.
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Assuming ya got a 1099-MISC tax form for the 11k, throw it on a Schedule C and claim it as Affiliate Marketing income, expense your domain renewal for the blog, web hosting fees for the blog, advertising expenses google, link buys etc... keep receipts for every expense you make during the year so when tax time comes each of your sites has a folder of receipts organized instead of having to dig for 12 months of paypal receipts. You could also use turbo tax and it will generate the schedule C for ya and walk ya along. Basic response based on sole proprietor with just cash in minus expenses, if your looking to go write off crazy phone, car, office, meals and test the loopholes find a good accountant.
thanks for your response, but they dosnt send any type of form as they are canadian based. what steps should i take now ?Comment
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Hello, I suggest you to read this and contact an accountant.
http://www.irs.gov/Businesses/Income...oad-is-Taxable.
There is always other options depending on your long term goals your accountant should be able to suggest you the best option regarding your situation.
I would suggest you to gro your revenue with us so the taxes dont hurt you too much.
Hit our support team so they can make sure we take you to the next level.
( we have affiliates making this weekly and even a few making this daily)
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“If you can convince the lowest white man he’s better than the best colored man, he won’t notice you’re picking his pocket. Hell, give him somebody to look down on, and he’ll empty his pockets for you.”Comment
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You should get an accountant, do you need help? PBBC can help you.Comment
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