How come I don't get w-9's from anyone. Do I need to request them?
 

Do you get them from any sponsors? Do you usually request your w-9's?

You have to break $600 to get a W-9 I think. No tax expert here.

Welcome to the shady world of the adult industry

Theonly reason I ask, is because I have some large sponsors in Canada and I need to know what they report and such. I made a lot with one but the sent me nothing.

you mean 1099? Just like W-4 they have until Jan 31st to send them out. Also if they aren't an American company they aren't required to send them out at all.

Won't get one unless you made over $600 with that sponsor. And I'm sure you know you won't get anything from CCBILL etc... Just report all your income that you made.

If they are from Canada they are going to report NOTHING to the IRS. You are responsible for reporting that income to the IRS on your own. They sent you checks so you know how much they paid you last year.

A w-9 is for tax information, from a w-9 you get a 1099 which companies have to send out. (total earnings) You will get a 1099 if earn over $600 a year, and you are either an individual owner or an llc. Incs don't get 1099's.

The law doesn't require companies to send a w9, however we do have to send out a 1099.

Are you sure about this? I'm sure a great deal of their money is made from people in the US and they do ask for SSN.

Companies are no longer required to send out 1099 forms. It's now your responsibility to report your earnings when they exceed $600. USD. This happened a few years ago.

Some companies still do....but not all.

Everyone ask for your SS# nowadays. I'm talking about everything in life. WTF do 99% need that info for? Why I don't know.

Why should a Canadian company have to comply with AMERICAN tax laws?

They have until the end of January to send them to you. It's still a bit early.

if you dont get one. dont report it :)

I hope that' sarcasm. You still have bank records you know.

Do you have to report it if it is under $600?

Yes, you have to report all earnings, no mater how small or large.

Americans doing business with Canadians and International companies don?t expect a 1099. A couple of companies will send a year-end total payout, but most don?t. It?s your responsibility to file on the earnings.

A lot of the International companies have BS American companies setup for processing. These companies should collect the SSN, so when the US GOV finally finds out they are really doing business in the United States, they will have a nice list of people to go after.

Yeah, I understand that. I'm just trying to save as much as the next guy :winkwink:

Kinda gay that they dont make it easier

The self-employed version of the W-2 form is the 1099. Any individual or company that pays you $600 or more in the previous year is required by law to report that payment, known in the tax world as miscellaneous income, via a 1099-MISC form. The form is to be sent to you and the Internal Revenue Service by Jan. 31.

When should you send a 1099?
If you've subcontracted work to someone else and paid them more than $600, you have to send them, as well as the IRS, a 1099-MISC form. The only exception is when your subcontractor is incorporated. Corporations aren't required to receive 1099s, although if you do send one to someone who's incorporated, it's not a problem.

Yeah and your dumb if you report yourself.. haha

was that sarcastic?

Yea it's better to not report my income then the IRS checks my bank records and can see all the checks I have cashed from sponsors then they'll want to know why I didn't report that income.

Sponsors are so bad when it comes to this. One thing that drives me crazy is that I know of only one sponsor that includes yearly earnings. You know damn well what you paid me for the year so why not tell me and save me some time.

I don't think programs should provide yearly earning statements, (unless in stats) keep your own books, we keep ours. Just like it is the webmasters job to make sure each check amount is correct.

I keep everything and give it to my accountant.
He sorts that shit out.
:thumbsup

Or, you could be a responsible business owner and keep track of your own records. :upsidedow

Thanks to TheDoc and Raven for helping with real answers!

keep records of everything, keep them in order, this is a business. create monthly reports of income + expenses, at the end of the year, add it all up and do your taxes. 1099's are practically non-existant in this biz.

5-10% of the active webmaster base on a money program will get 1099's.

I do everything in that first sentence except "do your taxes" - don't have taxes to pay or account for, - but it's good biz sense to see the truth on the bottom line for your own benefit :thumbsup

i broke 600 with like at least 20 different sponsors in 2004. i only got 2-3 tax forms in the mail from sponsors.

I save the check stubs or put in a paper with the amount written and the sponsor if they dont have that with the check. Then I just add that and the wires up once a year

Then do it legally and setup a corporation. Don't operate as an individual. Taxes are way too high.

Will probably be the best $600-900 you ever spent.

wedouglas: bro.. its because you don't know the secret handshake... ask beemk.. i'll tell him you're clear for level 3 knowledge on this

just make sure you bring a raccoon with 3 legs with you, or the deals off.

How hard is it to send us how much you paid us. I love now how the sponsor programs are getting mad.

I should have known it was one to many extra steps whatever :1orglaugh :1orglaugh :1orglaugh

:1orglaugh :1orglaugh :1orglaugh

Is this an option for one person who makes his money as an affiliate?

Like just an llc?

ok so if i didnt get any 1099 o w2 then how do you show up all your income to irs? i know there is other you just wait a bit and then get a letter that your bank account on hold and you owe irs xx.xxx plus late fee or some other shit , so anybody knows how you show up income urself tho? please let me know if you want on icq my # is 251010461 id be apraciated alot..

Absolutely. A corporation is simply a piece of paper that allows you to conduct business as a separate entity. One man, a group of men, or an army of men. They can all setup corporations.

I have a C, but LLC is very popular as well. It depends on what exactly you want to do.

Um you just write down when you fill out your tax forms.

When you fill out your Schedule C you see line 1 says "Gross receipts and sales"

On line 12 of your 1040 it says "Business income attach Schedule C"