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  1. #1
    Member
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    CJ and taxes
    Hello, just seeing what you guys recommend as far as taxes go with the CJ payments.

    Does CJ send in a 1099? Any suggestions here would be great.

    Thanks,
    Matt Weidner

  2. #2
    ABW Ambassador
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    If you made over $600, you'll get something in the mail from them, not this early tho. I haven't gotten anything yet from any place. Usually near the end of the month or right after.

  3. #3
    Online Marketing Consultant
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    If you make under $600 do you not have to declare it then?

  4. #4
    Member
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    Thanks
    What do they send to you? Some type of forums or something?

  5. #5
    ABW Ambassador
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    Quote Originally Posted by Liquidate
    If you make under $600 do you not have to declare it then?
    Yep, you're supposed to declare all of your income. I have a lot of indy's that I make under $600 with, so it's a lot of logging into places and getting that info around April for me.

    Quote Originally Posted by mweidner2782
    What do they send to you? Some type of forums or something?
    Yes, you'll get something from them (W2 form)* in the mail if you made over $600.

    *I think you might get something else if you're in another country. Others would know.

  6. #6
    notary sojac Herb ԿԬ's Avatar
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    Exclamation
    >>>Yes, you'll get something from them (W2 form)<<

    isn't that for people with j*bs? a 1099, maybe . . .

  7. #7
    ABW Ambassador
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    That might be it I'm half asleep, was getting my forms mixed up.

  8. #8
    Newbie
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    you will get a 1099 from them and you need to look at paying, not only the federal, state and local, but your fica... and unfortunately you will need to pay the entire (almost) 15% i believe. when you work for an employer you pay half and they pay half (about 7ish% each) but on 1099 income u need to pay it all if you are self employed. Scratch all that if you are a corporation, but then you get into other issues with payroll taxes and such.

    Hopefully i helped a little and your best bet if you aren't sure is probably to pay for some tax services. In most areas it will cost between $200-$500 but can be well worth it seeing as how they will help set up your quarterly tax payments (only if your making a significant profit) and do your tax returns for you, along with usually helping you throughout the yer.

    Good Luck, and happy filing.

  9. #9
    ABW Ambassador La_Valette's Avatar
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    Quote Originally Posted by Liquidate
    If you make under $600 do you not have to declare it then?
    It's still your responsibility to declare all of your income correctly, whether you get a 1099 or not. Don't mess with the IRS!
    Kids, you tried your best and you failed miserably. The lesson is, never try. -- Homer Simpson

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