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  1. #1
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    income tax
    If my AN does not provide me with a 1099 form, would I report the income myself using a 1040 form, schedueC (profit or loss from busness)?

    Sorry if this is a dumb question.

  2. #2
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    You really should be asking a certified accountant

  3. #3
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    Taxpayers must report all income from any source and any country unless it is explicitly exempt under the U.S. tax code.

    http://www.irs.gov/newsroom/article/...175963,00.html

  4. #4
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    Quote Originally Posted by Julian
    You really should be asking a certified accountant
    You are right. I was just trying to get some general guidence.

  5. #5
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    Quote Originally Posted by Adam Ward
    Taxpayers must report all income from any source and any country unless it is explicitly exempt under the U.S. tax code.

    http://www.irs.gov/newsroom/article/...175963,00.html
    Yeah, I know that. What I was wondering was HOW I would report my income
    That article you provided was great, I believe it answerd my question.

    Thanks for the quick reply.

  6. #6
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    <disclaimer> I'm not an accountant or tax professional - take this with a grain of salt</disclaimer>

    You need to claim it all on Schedule C, 1099 or not, if the following is true.

    If you have $400 or more of business income after expenses, you need to file a Schedule C or C-EZ and a Schedule SE to compute your self-employment tax.

    Ken

  7. #7
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    Quote Originally Posted by wyvern
    <disclaimer> I'm not an accountant or tax professional - take this with a grain of salt</disclaimer>

    You need to claim it all on Schedule C, 1099 or not, if the following is true.

    If you have $400 or more of business income after expenses, you need to file a Schedule C or C-EZ and a Schedule SE to compute your self-employment tax.

    Ken
    Thanks for the info. I understand that neither you nor anyone else on this site can take the place of an accountant (the person who I should ultimately check with). I just figured that since most of you have recieved money from ANs, you would be able to point me in the right direction as to how I would go about reporting it ( didn't mean to have a bad tone there).

    As for the Schedule SE: I havent heard of that, but I will do some checking on it.

    Thanks all

  8. #8
    Lite On The Do, Heavy On The Nuts Donuts's Avatar
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    Taxes are very complicated, and there could be many things that make your case different than someone else's - that's why people defer to professionals - it's not that we don't generally know or that we're afraid to answer for legal reasons, it's that really, you're case may have some wrinkle that ours doesn't and we'd steer you wrong and you'd end up in financial and legal troubles because of it. You need a professional, because it requires one (which in itself is a shame!).

  9. #9
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    Quote Originally Posted by Donuts
    Taxes are very complicated, and there could be many things that make your case different than someone else's - that's why people defer to professionals - it's not that we don't generally know or that we're afraid to answer for legal reasons, it's that really, you're case may have some wrinkle that ours doesn't and we'd steer you wrong and you'd end up in financial and legal troubles because of it. You need a professional, because it requires one (which in itself is a shame!).
    My "wrinkle" is that my AN is Canada-based and I am unsure as to weather or not to report my income to Canada also. Maybe your reason is why no one has answered my post on this subject, they don't want to steer me wrong.

  10. #10
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    Quote Originally Posted by nobugs
    My "wrinkle" is that my AN is Canada-based and I am unsure as to weather or not to report my income to Canada also. Maybe your reason is why no one has answered my post on this subject, they don't want to steer me wrong.

    Exactly. You do not mess with the IRS

  11. #11
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    Once again, the same disclaimer as above applies.

    If you are US resident, you will not be claiming any income with or paying any taxes to the Canadian government, but will be responsible to report all income on your US returns.

    Check with a tax pro (and that doesn't mean the IRS, where you could get 5 different answers from 5 different people) about your particlar circumstances before filing your return.

    Ken

  12. #12
    Full Member Greywolf's Avatar
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    My "wrinkle" is that my AN is Canada-based
    I'm pretty sure Canadians just give all of their money to the government, and then wait for thew welfare check to arrive

    Totally kidding. I love Canada!!

  13. #13
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    Quote Originally Posted by wyvern
    Once again, the same disclaimer as above applies.

    If you are US resident, you will not be claiming any income with or paying any taxes to the Canadian government, but will be responsible to report all income on your US returns.

    Check with a tax pro (and that doesn't mean the IRS, where you could get 5 different answers from 5 different people) about your particlar circumstances before filing your return.

    Ken
    FINALLY!

    I have recieved a answer to my Canada-reporting question. I know I still have to go over this with a professional, but now I have some idea of what to expect.

    Thanks Wyvern and everyone else who posted on this thread. Abest IS the best!

  14. #14
    MasterMike HardwareGeek's Avatar
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    If you don't get a 1099, you have to contact the IRS report that you did not get it and they will tell you where to report that income. It's the only way to cover your ass especially when the 1099 arrives weeks late.

  15. #15
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    Should I speak with an accountant before I start affiliate marketing or only before I file my taxes or both?

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