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  1. #1
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    Anyone know when Performics sends out 1099 forms for earnings? I've had other programs in the past wait as late as March to send one out.

    Also, since November and December 2003 earnings probably won't be paid out till February 2004 or so, I'm curious as to what year Performics will assign such earnings when reporting to the IRS ...2003 or 2004?

  2. #2
    Full Member Jungleland's Avatar
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    They never sent me one last year, and I ended up asking for one sometime in February.

    I believe earnings are counted when they are paid. Thats what I remember from last year, though hopefully someone with a better memory will be able to give a definite answer.

    "Don't let yesterday take up to much of today."

  3. #3
    Mama in Charge Anne's Avatar
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    Yep earnings are counted when paid. :0) They should send you your W-2 before 1/31, I think that is law (?)

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  4. #4
    Mama in Charge Anne's Avatar
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    well duh, your 1099 I mean, not w-2, I warped back to when I had a REAL job... LOL!

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  5. #5
    2005 Linkshare Golden Link Award Winner  ecomcity's Avatar
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    The day Performics drops all parasitic recruiting and hosting activities is the day I'll look over their merchant list. I assumed they were just a network devoted to parasitic partnerships.

    Mike & Charlie ...

    If they won't adopt and feed a bird ..flip them one! BBQ some Gator and remember to flush WhenU..

  6. #6
    Action Jackson - King of the World
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    I sure do well there for them being parasitic:P


    This will be my first year filing taxes as an affiliate marketer. Hope I can figure everything out

    Jack Mitchell
    http://kattskozykorner.com
    http://clothing-to-go.com
    http://sports-to-go.com

  7. #7
    ABW Ambassador flamingoworld's Avatar
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    Mike,
    Most of the networks are devoted to parasitic partnerships. I have not found one to be any worse than the others.

  8. #8
    Web Ho - Design B!tch ~Michelle's Avatar
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    The law does state they must be sent out no later than 1/31

    That said, we all know that doesn't always happen.

    I wait until then. If I don't have it, I file without it. I add all my income that I receive throughout the year in whether I have to or not and pay the taxes on it anyways.

    As far as Performics and Parasites, I do very well with Performics, better than BeFree and CJ combined!

    ~Michelle
    "All I ask is a chance to prove that money can't make me happy."
    "Work to become, not to acquire." -- Confucius

  9. #9
    Moderator MichaelColey's Avatar
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    I received one in November or December for 2002 from one merchant.

    You're supposed to report the income whether you get a 1099 or not, so the 1099's don't really matter much to me.

    Michael Coley
    Amazing-Bargains.com

  10. #10
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    You are only required to receive a 1099 if your receive (I think it's 600) in the course of the year from them. Receiving payment in January for December sales, will not count towards your 2003 income, but rather your 2004. So in come cases, it is better that they haven't paid in a while.

    I did not receive a w-9 from performics as I did not make the 600, however,my husband did. Per my accountant, yes, you are required to report all income, whether or not you receive a 1099. Therefore, it is very important to keep good records. Sometimes it is hard to do so, when you may get a whopping $1.90 check (as I did) from a merchant, but nonetheless, I certainly do not want to be audited.

    Hope that helps,
    Robin

    Also, be careful about whether or not you have to make estimated payments. It can kill you with penalties if you were/are supposed to and don't.

  11. #11
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    OK, I looked up the amount for the 1099-misc. You will receive one only if you earned $400 (not $600) in a year. Therefore, you must pay taxes, social security, etc. on any self employed (contract) income you receive above that.

    Hope that helps.

    The irs has a great site with a lot of information.

    Robin

  12. #12
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    1099-MISC reports are actually not required until the last day of February. W-2's are, however, required to be sent out by 1/31 as stated above. I hope this helps to clarify this issue.

    That said, we have almost all seen a case or two where 1099-MISC's reports were not sent until later in the year, but as Michael said you still have to claim the income anyhow. I recommend waiting until March 15th to file if you want to be sure to get all forms in to be most accurate and raise the least amount of potential IRS red flags.

    You will only get a 1099-MISC if it is over $600 (not $400) and you are not a corporation of some sort. So sole proprietors, partnerships and invidivuals should receive one if it is over the $600. You may also be inclined to contact your inside rep to discuss whether or not a 1099 is being sent for your account, accounting should know this information readily.

  13. #13
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    Per the IRS site:

    Unless you have requested a determination by filing Form SS-8, you generally have to report your nonemployee compensation on Form 1040, Schedule C (PDF), Profit or Loss from Business (Sole Proprietorship), or Form 1040, Schedule C-EZ (PDF), Net Profit from Business. You also need to complete Form 1040, Schedule SE (PDF), Self-Employment Tax, and pay self-employment tax on your net earnings from self-employment, if you had net earnings from self-employment of $400 or more. This is the manner by which self-employed persons pay into the social security and Medicare trust funds. Employees pay these payroll taxes, as well as income tax withholding, through deductions from their paychecks. Generally, there are no tax withholdings on this income. Thus, you may have been subject to the requirement to make quarterly estimated tax payments. If you did not make estimated tax payments, you may be charged an underpayment of estimated tax penalty.

    http://www.irs.gov/faqs/faq-kw7.html

  14. #14
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    REM - this $400 is referring to those who have had NET earnings of $400 or more of business income. This is a not referring to the gross payments made from a business to another business (or sole proprietor) in a year and the requirement for them to send out a 1099-MISC. This is referring to the minimum reportable net income for tax purchases and declaring it (net) to the IRS.

    This if for 2003:

    A Form 1099-MISC is used to report payments made in the course of a trade or business to another person or business who is not an employee. The form is required among other things, when payments of $10 or more in gross royalties or $600 or more in rents or services are paid. The form is provided by the payor to the IRS and the person or business that received the payment.

    It can be found here about mid page under the bold heading "What is the difference between form W-2 and Form 1099-MISC":

    http://www.irs.gov/faqs/faq12.html

    I hope this clarifies it for you and helps others to better understand how the IRS operations. Notice that the $10 minimum is for royalties while the $600 threshhold is for rents or services paid which is where affiliate marking applies.

  15. #15
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    So I guess I should delete my two later posts and stick with that first one where I did think it was $600. Thanks for the clarification..it's been too long since I was in the accounting world.

    Robin

  16. #16
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    LOL, yep that would work I used to work in accounting myself so some of these things are old hat if you know what I mean.

  17. #17
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    FYI, my 1099 came from Performics in the mail today.

    IamJaloppy

  18. #18
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    I got my 1099 Saturday also. Why all the fuss over it?

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