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| Discuss what's fucking going on, and which programs are best and worst. One-time "program" announcements from "established" webmasters are allowed. |
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04-01-2005, 05:02 PM
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#1 |
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Registered User
Join Date: Mar 2005
Posts: 29
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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.  |
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04-01-2005, 05:05 PM
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#2 |
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Confirmed User
Industry Role:
Join Date: Dec 2004
Location: OGG / PDX
Posts: 456
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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.
__________________
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04-01-2005, 05:06 PM
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#3 |
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It's coming look busy
Join Date: Mar 2001
Location: "Ph'nglui mglw'nafh Cthulhu R'lyeh wgah'nagl fhtagn".
Posts: 35,299
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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.
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04-01-2005, 05:21 PM
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#4 |
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Registered User
Join Date: Mar 2005
Posts: 29
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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? |
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04-01-2005, 05:23 PM
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#5 |
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Confirmed User
Industry Role:
Join Date: Nov 2001
Posts: 1,183
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Only pay attention to the checks you actually received. ..not what epoch's stats say.
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04-01-2005, 06:35 PM
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#6 | |
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The one and only!
Industry Role:
Join Date: Nov 2002
Location: Atlanta, GA
Posts: 17,761
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Quote:
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 |
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04-01-2005, 06:53 PM
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#7 | |
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Too lazy to set a custom title
Industry Role:
Join Date: Oct 2002
Location: Montreal, Quebec
Posts: 29,676
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Quote:
__________________
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 .... |
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04-01-2005, 08:15 PM
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#8 |
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Confirmed User
Join Date: Apr 2002
Location: Barcelona, Spain
Posts: 108
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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.
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04-01-2005, 11:05 PM
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#9 | |
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Registered User
Join Date: Mar 2005
Posts: 29
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Quote:
Well i agree, but doesn't Epoch report $12000 to IRS as a paid amount to me? |
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04-01-2005, 11:12 PM
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#10 |
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So Fucking Banned
Join Date: Aug 2003
Location: San Diego, CA
Posts: 5,464
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You should report what is on your W2, not what is in the financial reports..
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04-01-2005, 11:14 PM
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#11 | |
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wtf
Industry Role:
Join Date: Sep 2001
Location: Bikini State, FL USA
Posts: 10,914
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Quote:
ditto......... |
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04-02-2005, 12:22 AM
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#12 |
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$100,000
Join Date: Dec 2001
Posts: 11,452
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yup report what you were paid, not whatever numbers they say.
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