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  1. #1
    Web Ho - Design B!tch ~Michelle's Avatar
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    Anyone else's 1099 not reflect what they actually received?
    I received my 1099 from Linkshare yesterday and it shows me making more in 2004 than I received in 2004. Heck, the numbers don't even match their own reporting. *LOL*


    If I take the amount on the 1099 and subtract the amount of each check (Linkshare paid & merchant paid as marked in reporting) that was reported sent to me from Jan. 04 - Dec. 04, there is a difference of $795.43

    If I take the amount of the 1099 and subtract the total amounts reported as Total Due for each month (at the top of the reporting) (Linkshare paid & merchant paid as marked in reporting) from Jan. 04 - Dec. 04, then there is a difference of $659.91.

    If, using reporting, I only add up what Linkshare paid and not the merchant issued checks, there is a difference of $846.88. (I hope Linkshare isn't adding into the 1099's what the merchants have paid directly since Linkshare isn't the payee on those checks!)

    Now, if I total up the checks I received from Linkshare and Linkshare merchants from Jan. 04 - Dec. 04 there is a difference of $251.00. If I total up JUST the checks I received from Linkshare, the difference is $297.15.

    The closest thing I can figure out is that maybe Linkshare is adding in a couple of checks that I did not receive until after Jan. 05. There are two that were dated Dec. 04 that I never received until mid-Jan 05. According to my tax person, I do not claim those checks until NEXT year on my taxes since I received them after the first of the year.

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

  2. #2
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    The closest thing I can figure out is that maybe Linkshare is adding in a couple of checks that I did not receive until after Jan. 05. There are two that were dated Dec. 04 that I never received until mid-Jan 05. According to my tax person, I do not claim those checks until NEXT year on my taxes since I received them after the first of the year.
    While I haven't received my 1099 yet, what you describe here is very likely an explanation for the discrepancy. While your tax person may be right that you don't have to report income for 2004 that you didn't receive until 2005, I would still report it on your 2004 tax return because it's just not worth the hassle of dealing with the IRS for such a small amount of money.

    Linkshare continues to engage in unethical and even illegal behavior. I had a check that was dated 12/29 but not postmarked until 1/3. I have no doubt whatsoever that it will be included on my 1099 for 2004 even though Linkshare didn't even mail the check until 2005.

  3. #3
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    We had a similar problem last year and if I remember correctly, even if you received the income in '05 the check was dated for '04 and you must report it with '04 earnings. Otherwise, most of us would just wait to defer as much income as possible by just saying we didn't get the check til January of '05.

    On another note, at least you got a 1099 from Linkshare..neither my husband nor I have received it. Also, don't forget that some of the Linkshare merchants pay directly themselves and not through LS. I would guess however, that your discrepancy is with your dates. We got about 5 LS checks in mid January all dated in December, thus it's '04 income.

    Good Luck,
    Robin

  4. #4
    Member jrb16915's Avatar
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    Hello,

    The 1099 we recieved is inaccurate. It left off two checks we recieved in March of 2004.

    Ridiculous.

    Regards,

  5. #5
    ABW Ambassador LinkShare Moderator's Avatar
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    Hi everyone -

    In preparing a 1099 form for an affiliate in our network, LinkShare follows certain standard accounting practices that may cause the amounts reflected in that 1099 to differ from the amounts received by the affiliate or from the amounts reflected in the affiliate’s reports. 1099s issued by LinkShare reflect only those payments issued by LinkShare between January 1, 2004, and December 31, 2004, and do not include amounts paid directly by merchants in our network.

    Discrepancies between the amounts in an affiliate’s 1099 and the amounts the affiliate believes it received or the amounts reflected in the affiliate’s reports can arise based on when a merchant provides transaction information to LinkShare, when a merchant remits funds to LinkShare to pay affiliate commissions or countless other reasons, including arithmetic or bookkeeping errors by the affiliate or even postal delivery errors. It is not unusual for companies to distribute revised 1099s. We have done so in the past, and a small number of affiliates may receive revised 1099 forms this year.

    If you have any questions about your 1099, please feel free to email us at 1099@linkshare.com.

    Thanks,
    Sarah

  6. #6
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    Email i just received:

    Dear LinkShare Affiliate -

    We recently mailed a Form 1099 to you for the year 2004. Unfortunately,
    due to an oversight in a query of our database, the amount in the form
    is potentially missing a few payments. Please disregard the Form 1099
    you may have received. We are currently reprocessing your information,
    and you should receive a revised Form 1099 shortly. A note will
    accompany the correct form so that you know which one is the accurate
    and revised one. If you have any questions about this, please feel free
    to contact us at 1099@linkshare.com. Thank you for your participation
    in the LinkShare Network, and we look forward to an even better 2005!

    Best,
    The LinkShare Team

  7. #7
    Web Ho - Design B!tch ~Michelle's Avatar
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    I received the same stinkin letter this morning from LinkShare.

    My taxes are done and mailed already.
    ~Michelle
    "All I ask is a chance to prove that money can't make me happy."
    "Work to become, not to acquire." -- Confucius

  8. #8
    ABW Ambassador Jane's Avatar
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    Done and mailed? I haven't even received all my 1099's yet

    I have a customer that loves to send me checks on Dec 31. Since they don't do 1099's I claim the money when I receive it in Jan. If there is a 1099 I claim the money when it was reported. I make notes on my deposit slip so I remember what was claimed on which year.

  9. #9
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    I'm not looking forward to reconciling the 1099 from Linkshare. It will be nice when they implement a consolidated check for all companies, not just select merchants!

  10. #10
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    "My taxes are done and mailed already."

    Really? The only 1099's i've received so far are from LS and Google. I still have a lot coming.

  11. #11
    http and a telephoto
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    I haven't gotten *any* 1099's yet, and after getting several revised ones last year, I will be waiting several weeks before even considering mailing out my tax forms.
    Deborah Carney
    TeamLoxly.com BookGoodies.com ABCsPlus.com

  12. #12
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    Yes, good to wait. By law they're supposed to be in the mail by January 31st. And i usually have most of them rolling on in through February. And then i wait till the last minute to take it all to my accountant

  13. #13
    Web Ho - Design B!tch ~Michelle's Avatar
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    Quote Originally Posted by TrustNo1
    "My taxes are done and mailed already."

    Really? The only 1099's i've received so far are from LS and Google. I still have a lot coming.
    My husband got his W-2 a week ago.

    The only 1099 I should receive for affiliate marketing is the one from Linkshare. CJ sucks for me, so I don't make enough from them to ever get one, and now that they took over BeFree it is the same story.

    I may get one from ShareaSale, and even though I have made enough through Performics, I have never ever received one from them. Either way, I have all my stubs and I am a meticulous record keeper, so I know what I earned and I have claimed every single penny that I received from anyone, so that is how I can file already. (even the money I didn't receive from LinkShare until 2005 - *LOL*)

    This year we owe the State of Michigan a whole whopping BUCK! *LOL* What a waste of a check to pay them. Of course their rules state if you make LESS than $1.00 you don't have to pay it, but you do have to file. It would make more sense if it said if you make $1.00 or less then you don't have to pay.
    ~Michelle
    "All I ask is a chance to prove that money can't make me happy."
    "Work to become, not to acquire." -- Confucius

  14. #14
    Resident Genius and Staunch Capitalist Leader's Avatar
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    I'm with the others. My 1099s haven't even come yet. Judging by prior years, it'll be February before I get mine from CJ and Google. And until I get 'em, I won't be doing my taxes. After all, I'll have to *pay!* So the IRS can wait until 11:59 PM, April 15th. Usually when I do my taxes, it's warm enough to do 'em using the outside table, and that's soon enough in my book!
    There is no knowledge that is not power. ~Hemingway

  15. #15
    The slot machine that IS paid! Billy Kay's Avatar
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    My "mistake" 1099 from Linkshare arrived today.

    All total, all merchants, all sales, for ALL of 2004...

    I made $3,615.54

    That means they think I earned - and survived quite nicely(!) - on 69 bucks a week. Wondr how I've been paying my ISP fees and still eating??

    C'mon - there HAS to be a way I can use this 1099 legally on my taxes! Hec! I can apply for government assistence with this figure!

    There's a note attached that says if I think there's anything wrong I have to email a special email address - but BEFORE march 1st - otherwise I'm stuck with this.

    Guess I'll email them real sloooooooooooooooooooow...

  16. #16
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    It is possible to have your taxes done and mailed berfore receiving 1099's if you keep your own records. We finally got the one from Linkshare today, but of course with their email which arrived the other day, it is erroneous. Shareasale came for my husband but not for me. And oddly enough, Google came and at one time the account was in my name with my SSN and then we switched it to my husband's and his SSN, thereby we should have actually received 2 1099's but only received one under his SSN, which for paying FICA actually worked out better anyway. Go figure.

    There will be plenty of companies where even if you earn the 600 minimum, you never receive a 1099, that is why you need keep good records and pay attention to when the check was dated. And keep separate files of checkstubs from year to year.

    I'm in a hurry to get my taxes done, not filed, only to see what I have to pay , but they are definitely not getting mailed any earlier than necessary.

    Hopefully Linkshare will get their act together eventually, it's a wonder they can continuously run a business this was and continue to be successful.

  17. #17
    Moderator MichaelColey's Avatar
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    Quote Originally Posted by rem
    I'm in a hurry to get my taxes done, not filed, only to see what I have to pay , but they are definitely not getting mailed any earlier than necessary.
    Ditto here. Mine never get mailed until April 15th, because there's always a check in it. No sense giving Uncle Sam a free loan. That's all you're doing when you get a refund. I'd rather earn a little interest on my money.

    I always do a rough estimate before the 1/15 quarterly estimated payments are due, just to make sure that I've paid enough in quarterly payments to avoid any penalties. You have to pay estimated taxes of at least the smaller of 100% of the taxes you paid in the previous year or 90% of the taxes you own in the current year to avoid penalties.

    I'm going to do a rough estimate before 12/31 in the future. I always accelerate deducations at the end of the year (charity, property taxes, mortgage interest) by paying some January bills before the end of the year, but this year I got hit with the AMT so many of those accelerated deductions didn't make a difference. Ugh. I won't make that mistake again.
    Michael Coley
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  18. #18
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    I hear ya Michael. We were close to the AMT as well, so we needed to keep checking that to see if it was worth it to accelerate any deductions/payments. Our accountant starts taking a look at our stuff in October so we know if we need to up our Q4 estimate or not. Luckily for federal we were ok, but for state we had to increase it and pay it by December 31, to deduct it off the federal.

    Also, we need to have the money set aside for our SEP plans, which if we knew how much we could put in, we could dollar avg it out, but I'm always hesitant to do it before our taxes are done.

    What is reall a bummer for us is that as soon as we pay our April Income taxes, we get our property tax bill the first week in May. Ouch!

    Paying taxes does suck, but I guess who can complain since we're making the money to begin with?

  19. #19
    Moderator MichaelColey's Avatar
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    Good to see other affiliates putting money into SEP IRAs. For those who haven't looked into it: You can contribute up to 20% of your net profit (up to a maximum contribution of $41,000 for 2004) and have the money grow tax free until you withdraw it after retirement. Build up that retirement account. You can contribute any time up until you file and still count it towards the previous year.

    Yeah, April 15 can be pretty stressful, with the balance of the previous year taxes due, first quarter estimated taxes due, and SEP IRA contribution due. Property taxes here in Texas are due 1/31, but I usually pay that before 12/31 to accelerate the deduction. We don't have a state income tax. The new law that lets us deduct sales tax instead of state income tax is great for us.
    Michael Coley
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  20. #20
    The slot machine that IS paid! Billy Kay's Avatar
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    You call that a tax strategy???

    Here's my annual ritual:

    1. Wait until the last minute to call your accountant - in which case the only appointment available is 2am on April 13

    2. At 1am April 13, do a desperate search for anything that looks tax related

    3. Be totally unable to answer any question she asks. Did you purchase any assets this year? Well, I got a new cofee pot!

    And answer all requests for pertinent documents with "I must have left that at home"

    4. At 4pm on April 15 you wait for the call that says "You're taxes are done, simply write a check to the IRS for $14,000!

    5. Request extension and monthly payment plan

    6. Ignore all the requests for money from the IRS for the next 6 months

    7. Look for the Notice of Intent to Lien that arrives every December

    8. Call IRS and get a final two week extension - send them a token dollar as proof you have intent to pay

    9. Pay them in one lump sum with all the money you made over the holidays - including interest and penalties that make loansharks look like choir boys

    10. Repeat process the following years.

    Nobody laugh... as this really is my tax strategy!!

  21. #21
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    One correction to Michael's post..the maximum you can contribute to the SEP for 2004 is indeed $41,000, but you can put up to 25% of pay. Check this site of the IRS for more info. http://www.irs.gov/retirement/articl...111396,00.html

    Basically, anyone not putting money in a SEP (even if you have to borrow to do it) is crazy. It also lowers your tax liability.

    You are lucky not to have state income taxes Michael, but at least ours are only a flat 3% which isn't horrendous.

    Property taxes due 1/31, ouch for those with high holiday bills. We get to pay half in June and half in September..it just never seems to end doling out that money.

    Of course, the other unfortunate thing we just realized today, is that we are somewhat young parents, so all this money we're socking away for retirement, we won't even be able to use for our kid's college educations as my husband will only be 49 when the last of 4 is off to college if necessary...grrr..

    Robin

  22. #22
    Action Jackson - King of the World
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    The only one I've gotten so far is CJ

  23. #23
    Moderator MichaelColey's Avatar
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    Quote Originally Posted by rem
    One correction to Michael's post..the maximum you can contribute to the SEP for 2004 is indeed $41,000, but you can put up to 25% of pay. Check this site of the IRS for more info. http://www.irs.gov/retirement/articl...111396,00.html
    I'm not sure if it's 20% or 25%. This site says that the limit is 25% for employees and 20% if you're self-employed. In any case, it's a wonderful thing to take advantage of.

    Ah, here it is. Publication 560 from the IRS clarifies it. It is 20% for the self-employed person.

    Quote Originally Posted by rem
    Of course, the other unfortunate thing we just realized today, is that we are somewhat young parents, so all this money we're socking away for retirement, we won't even be able to use for our kid's college educations as my husband will only be 49 when the last of 4 is off to college if necessary...grrr..
    For college for the kids, you might want to look into a 529 plan.
    Michael Coley
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  24. #24
    Resident Genius and Staunch Capitalist Leader's Avatar
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    It is possible to have your taxes done and mailed berfore receiving 1099's if you keep your own records.
    True, but paying taxes early isn't something I strive for

    ~~~~~~~~~~~~~~~~~

    I got mine from CJ and Google the other day. And, to my surprise, I made enough at BeFree last year to get one from there, and it came. I'll have to check my other accounts and see if I should be expecting any more...

    I haven't gotten the nerve up to do my taxes yet, though Although I'll probably do the rough calculations before Apr. 15th (I like to know approximately what I'll owe, too), the actual filling out of forms will wait until spring.
    There is no knowledge that is not power. ~Hemingway

  25. #25
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    Yep, sorry for that mistake. I just listen to how much my accountant says I can put in. We each have a SEP so technically I suppose we can put in 41k each. LOL..that'd be the day. I think one of us can for sure at least.

    And seriously, with four kids don't you think I have 529 plans? And, those are state tax deductible which is cool too. But the SEP is better since it lowers our federal taxes by a larger amount.

    There's only so much money in the pipeline, you know?

    I've been looking at taxes all day..what a pain in the neck..I hope to get the last of my 1099's and send them on their merry way to the accountant.

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