About rbwnys
Rank 228192
804 followers Joined October 2013
I'm Ben. I've always been a bit of an introvert, but I must say, since I've been putting websites together, joining Facebook etc...it's all kind

Posts

29

Questions

16

Login
Create Your Free Wealthy Affiliate Account Today!
icon
4-Steps to Success Class
icon
One Profit Ready Website
icon
Market Research & Analysis Tools
icon
Millionaire Mentorship
icon
Core “Business Start Up” Training
asked in
Getting Started
Updated

Take Adsense/YouTube for instance. How much money would I need to earn within the calendar year for the IRS to consider it reportable?

see someone has given you a link to the information you need

A business has to report to the IRS whenever they pay a contractor more than $599.

http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Reporting-Payments-to-Independent-Contractors

Thanks for the link.

Pretty sure you have to report anything over $600.

Okay... I can live with that. Thanks! Like with any part of the tax code, it can probably change each year too.

I think that usually if you are not really getting any income from anywhere else, but only from your online business, I believe that if you make under $30,000 and this is all you made, that you are exempted from taxes. If you make more, than you have to pay taxes.

Thanks for the quick answer! I'm already employed 40 hrs week. My affiliate income is to supplement that. Naturally I file taxes anyway...but am trying to figure out if THIS type of income is treated the same as any other "extra" income... such as earnings from stocks and investments. And whether it needs to be a certain amount before it's considered taxable.

I think that after a certain amount, that it is considered taxable either way. So I think that the methodology that you utilize already to file taxes is good as is, you could definitely keep utilizing that method to file your taxes for the income you made on your site. With your affiliate programs though, they always ask for your tax info, so everything is recorded.

Yes...that's true...regarding the affiliate programs. Then when I tried to look up on google about adsense, it was really ambiguous, and the links it suggested going to for info, don't even work!

Hopefully you've figured it out by now :)

Well, if nothing else...perhaps a better grip on the subject. Thanks!

No problem :)

See more comments

What is the earning threshold for u.s. taxes?

What is the earning threshold for u.s. taxes?

asked in
Getting Started
Updated

Take Adsense/YouTube for instance. How much money would I need to earn within the calendar year for the IRS to consider it reportable?

see someone has given you a link to the information you need

A business has to report to the IRS whenever they pay a contractor more than $599.

http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Reporting-Payments-to-Independent-Contractors

Thanks for the link.

Pretty sure you have to report anything over $600.

Okay... I can live with that. Thanks! Like with any part of the tax code, it can probably change each year too.

I think that usually if you are not really getting any income from anywhere else, but only from your online business, I believe that if you make under $30,000 and this is all you made, that you are exempted from taxes. If you make more, than you have to pay taxes.

Thanks for the quick answer! I'm already employed 40 hrs week. My affiliate income is to supplement that. Naturally I file taxes anyway...but am trying to figure out if THIS type of income is treated the same as any other "extra" income... such as earnings from stocks and investments. And whether it needs to be a certain amount before it's considered taxable.

I think that after a certain amount, that it is considered taxable either way. So I think that the methodology that you utilize already to file taxes is good as is, you could definitely keep utilizing that method to file your taxes for the income you made on your site. With your affiliate programs though, they always ask for your tax info, so everything is recorded.

Yes...that's true...regarding the affiliate programs. Then when I tried to look up on google about adsense, it was really ambiguous, and the links it suggested going to for info, don't even work!

Hopefully you've figured it out by now :)

Well, if nothing else...perhaps a better grip on the subject. Thanks!

No problem :)

See more comments

Login
Create Your Free Wealthy Affiliate Account Today!
icon
4-Steps to Success Class
icon
One Profit Ready Website
icon
Market Research & Analysis Tools
icon
Millionaire Mentorship
icon
Core “Business Start Up” Training