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income taxes for my little website?

 
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  #1  
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Join Date: July 21st, 2010
Posts: 4
income taxes for my little website?

i have affiliate marketing thru amazon.com. do i have to report this to the IRS?
  #2  
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Join Date: January 22nd, 2007
Location: West Covina, CA
Posts: 6,772
Send a message via Yahoo to Phil Kaufman aka AffiliateHound
Net profit from affiliate marketing is taxable income just like income from any other business.

If you receive more than $600 in a tax year from Amazon they are required to report it to the IRS via form 1099-m.

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  #3  
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Join Date: July 21st, 2010
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so if i make 13 dollars over a 3 year period....do i have to report this
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  #4  
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  #5  
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Join Date: July 21st, 2010
Posts: 4
what if i make 300 from amazon and 400 from google adsense. do i have to report it?
  #6  
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Join Date: January 22nd, 2007
Location: West Covina, CA
Posts: 6,772
Send a message via Yahoo to Phil Kaufman aka AffiliateHound
IF your total net income in a tax year is $300 or $400, you will not owe income tax and do not have to file a return.

If you have other income that is over the threshold for owning tax, then any additional net profit (or net loss) should be included on your return, either as additional taxable income or a business loss than can reduce the tax you would otherwise owe.

CAVEAT - I AM NOT AN ACCOUNTANT and this is general information not tax or legal advice. Consult your own accountant.
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"If you don't have time to do it right, when will you have time to do it over?" -John Wooden;
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  #7  
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Join Date: July 21st, 2010
Posts: 4
thanks for the info.
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