Tax Question...
 

Ok, if you make over $600 in one year with a company you need to claim it right? So when does that reset? like, at the beginning of the year does it reset back to $0 with that company so you need to make over $600 again during that year? how exactly does that work...

get an accountant :1orglaugh

You kind of answered your own question. Tax year runs from Jan 1 thru Dec 31st. Figure it out

so for example...lets say i made $800 with company A in 2004. so i pay the taxes. then in 2005 i make $500 with the same company. does that mean that after 2005 i dont pay taxes since it started back at zero?

I'm not a yank but I thought the $600 thing was a reporting requirement only... if you earn $200 you still have to declare it, even though the company paying you doesn't need to provide any documentation.

I could be wrong. :winkwink:

report everything, everything.

yeah get an accountant, else u will probly be in jail in a year

does the revenues you get from your sites all reported. How do you do your bookkeeping?

your tax year runs whenever you say it runs.

if you want to go june to may, sept to aug, etc, thats up to you.

when you get an accountant, you;ll probably get a tax id of some sort as well, and thats when/where you decide what your tax year will be if its not the default jan-dec.

you still have to report that $500.

That $600 figure is just when most companies will send you out a tax form saying how much you made with them. Either way you still report it.

Damn, it's so complicated for Canadian webmasters to do the taxes report !! :(

i never knew you had to report every penny. i was under the impression that if you only made a few bucks here and there under $600 you did not have to report it yet. :\

No, what most people do is, if they did not get a 1099 on some income, they do not report.

Most companies if you make under $500 do not send you a 1099, BUT your still supposed to report the income, 99.99% do not.

ok thats what i figured. most people dont because the government isn't really trippin off a few hundred dollars here and there, if you made thousands and thousands then i'm sure it would be a different story...