CCBill and Taxes
 

Hope someone here can help me with this. Does CCBill send out tax info for all the sales done through them, or is it up to each individual company using CCBill to do that? Am I looking for one statement or multiple statements?

CCbill should send out the 1099s.

I did not receive any 1099's from CCBill or from any CCBill sponsors last year. I may be wrong, but I believe it's the responsibility of the individual sponsors to send 1099's to everyone that was paid more than $600 for the year.

I believe that is correct!

Toby got it right :)

I've NEVER recv'd a 1099 from a company who's affiliate checks are cut via CCBill.

Did they change that in the last few years? It has been years since I used them and made over $600, but I can swear I recall getting a 1099 from them I think for the year 2000.

Allfetish - I have an account code with CCBill that's 193 (they are up to 7 numbers these days)

So that was probably 1997 or so & NEVER have I recv'd a 1099 from CCBill - as far as I know, the affiliate program has always been responsible for sending them out.

Of course, if you have your books in order, you don't need them & should be reporting any & all income that you receive, regardless of if you get a 1099 or not (the totals of the 1099's I receive each year have never even come close to the actual money I've made)

Yes, my appologies I think you are all right. I was reading around about this and apparently for whatever reason CCbill says it is not required to send out the 1099s.

I might just be confusing them with Globill when I thought I once recieved one from them.

Thanks for the reply folks !

A check processing company has no reason to send out such statements but I'm surprised they haven't offered at as a service for a fee of course.

I keep 2 Excel spreadsheets for each year. Both have work books for each month. One is dedicated to money coming in and one is dedicated to money going out. Before I got to the bank to deposit any check I put it in my spread sheet. At the end of the year it's a no brainer to see how much I need to declare.

I,ve done an Excel spreadsheet as well Sir Moby and your right, it makes keeping up with things a breeze. Just wasn't sure if there was any additional paper work I needed to lookout for.

Seeing as 1099's will be mailed out to most of us in the very near future, I have a little task for anyone that's up for it. Compare the dollar amounts on your 1099's to your totals as well as the totals in the affiliates admin area. I bet that some of them are off by a lot of money :D

Also look at the info on the 1099, especially if you had your social security number in their admin in previous years - I've been a company since 2001 & I changed my info to show my Federal ID when I got the company, but I still get 1099's with my SS # on them as well as my name & not the business name (it's always fun to try & explain to the IRS why they show you personally making $1000 for a company that sent checks to your company name)

I'm definately going to do that. Your other reply kind of shocked me. One reason for a possible small discrepncy, I guess might be accounting systems. Like with your last and first check check of the year. Which tax period do you put it on? I always put mine on the one based upon when it was received.

It should be based on the date the check was issued.

I guess I might be audited then soon. :D

I do use a cash basis though instead of accrual accounting, so that is why I have always went by when the money was received.

http://www.nolo.com/encyclopedia/articles/sb/cash.html

:shrug:

I suppose this why I am not an accountant. :)

Yeah... I think it depends on the method you use.

Though I am no accountant either.|huh

it is the sponsor's obligation to 1099 US webmasters, not CCBill's