Newsletter Tax Time

amadman · 2004-01-26, 10:46 AM

About 1099... Do sponsors and processors send them out if you make enough money with them?

Maybe it is because I do not make much and what I do make is so spread out between diffent sponsors but I never seem to get any tax forms. I just keep all of my check stubs.

Greenguy · 2004-01-26, 11:28 AM

US Based companies are supposed to send out 1099's to anyone in the US that earned over $600 for the year & they are supposed to be mailed by Jan 31st.

Some companies send them out to non-US webmasters, which my accountant told me is incorrect (you just report that outgoing money in another area of the tax form)

Sponsors are supposed to send them & processors are not - technically, the processor is just sending money out on the sponsors behalf.

Of course, I've never seen a 1099 from a sponsor that has the processor pay the webmasters for them - LOL

Cleo · 2004-01-26, 11:39 AM

Taxes Suck

amadman · 2004-01-26, 01:00 PM

Thanks GG... I have been wondering about that for some time. I will just use what I have/get I guess.

soggy · 2004-01-26, 03:11 PM

Quote:

Originally posted by Cleo
Taxes Suck

I agree and how! I know I do not look forward again to seeing my accountant in March. Between my coffee biz and my adult biz I guess I am not writing enough stuff off or finding enough loopholes. My accountant says I am though. The last 2 years I have had to pre-pay quarterly.

Yet come April I still have to cut another check. I cant imagine what GG and some of the other bigger boys pay.

Rant over,

soggy

Greenguy · 2004-01-26, 04:19 PM

Quote:

Originally posted by amadman
I will just use what I have/get I guess.

I hope I didn't come across that I was recomending that you only claim what you get on 1099's.

I claim everything - whether it's from a US based company, outside the US, paid via PayPall or Epassport - by law, you are required to claim EVERYTHING regardless of an existing 1099.

If some company forgets to send out the 1099's on time or they get an extension & send them out late, you are still responsible to have that income claimed on your taxes.

It happened to me last year - I got a 1099 from one of the sponsors at the end of April (postmakred a few days before) Thankfully, I was legit on my taxes & didn't give the IRS some ammo to come back at me & ask why this extra money was not reported.

amadman · 2004-01-26, 04:58 PM

No GG you did not come off that way at all.

I was referring to using the check stubs I have and any 1099's that I do happen to get.

2004-01-26, 10:46 AM	#1
amadman I've been mad for fucking years, absolutely years, been over the edge for yonks.... Join Date: Apr 2003 Location: padded room Posts: 861	Newsletter Tax Time About 1099... Do sponsors and processors send them out if you make enough money with them? Maybe it is because I do not make much and what I do make is so spread out between diffent sponsors but I never seem to get any tax forms. I just keep all of my check stubs.

2004-01-26, 11:28 AM	#2
Greenguy The Original Greenguy (Est'd 1996) & AVN HOF Member - I Crop Pics For Thumbs In My Sleep Join Date: Feb 2003 Location: Blasdell, NY (shithole suburb south of Buffalo) Posts: 41,929	US Based companies are supposed to send out 1099's to anyone in the US that earned over $600 for the year & they are supposed to be mailed by Jan 31st. Some companies send them out to non-US webmasters, which my accountant told me is incorrect (you just report that outgoing money in another area of the tax form) Sponsors are supposed to send them & processors are not - technically, the processor is just sending money out on the sponsors behalf. Of course, I've never seen a 1099 from a sponsor that has the processor pay the webmasters for them - LOL __________________ Promote POV Porn Cash By Building & Submitting Galleries to the Porn Luv Network

2004-01-26, 11:39 AM	#3
Cleo Subversive filth of the hedonistic decadent West Join Date: Mar 2003 Location: Southeast Florida Posts: 27,936	Taxes Suck __________________ Free Rides on Uber and Lyft Uber Car: uberTzTerri Lyft Car: TZ896289

2004-01-26, 01:00 PM	#4
amadman I've been mad for fucking years, absolutely years, been over the edge for yonks.... Join Date: Apr 2003 Location: padded room Posts: 861	Thanks GG... I have been wondering about that for some time. I will just use what I have/get I guess.

2004-01-26, 04:58 PM	#7
amadman I've been mad for fucking years, absolutely years, been over the edge for yonks.... Join Date: Apr 2003 Location: padded room Posts: 861	No GG you did not come off that way at all. I was referring to using the check stubs I have and any 1099's that I do happen to get.