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  1. #1
    Member lschofield's Avatar
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    Income Tax Issues
    As we enter Q4 has anyone got any good advice regarding next year's income tax? My husband wants me to set my payments really high so we get no more affiliate income this year. I'm thinking it doesn't matter, as those commissions will have been earned this year, regardless of when I'm paid. What do other people do regarding prep for next year's taxes?
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  2. #2
    Super Dawg Member Phil Kaufman aka AffiliateHound's Avatar
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    Quote Originally Posted by lschofield
    As we enter Q4 has anyone got any good advice regarding next year's income tax? My husband wants me to set my payments really high so we get no more affiliate income this year. I'm thinking it doesn't matter, as those commissions will have been earned this year, regardless of when I'm paid. What do other people do regarding prep for next year's taxes?
    If you use standard cash basis accounting, then your income is taxable upon receipt, not when earned. So, what you earn the rest of the year is irrelevant; what matters as far as tax liability is concerned, is what income you actually receive through the end of the year.
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  3. #3
    Member lschofield's Avatar
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    Thanks affiliatehound: I've set my google adwords and cj payments high enough to probably prevent any more payments this year. Is there a way to do this with Linkshare and Google Affiliate Network that anyone knows of? I've had a look, but if this is possible it must be hidden away somewhere...
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