Tax Question...

[SlamDesigns]

Hi guys and girls. I have a (probably stupid) question. This is my first year running a site where I made money off of affiliates/sponsors, and I'm a little confused on how I pay taxes on this. Do the affiliate programs send out W2's, and if not, how do I go about paying the taxes on the money that I made this year? Sorry for sounding stupid, but this is something that I really need to know. Thanks!

[Geeezer]

Surely you're allowed to earn $250 for the year without having to pay tax on it

[sfera]

if you make over 500 bux they will send you a 1099, you are an independant contractor :thubmsup

[beemk]

get an accountant, but basically 99% of sponsors wont send you anything. you need to claim it all as self employed. dont listen to me though im not an accountant.

[beemk]

if you make over 500 bux they will send you a 1099, you are an independant contractor :thubmsup

no they wont, have you promoted sponsors before? ive made over $600 with more than 20-25 sponsors and only got about 2 or 3 1099's.