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Author Topic: How's the tax situation working out on SS  (Read 3610 times)

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« on: July 04, 2009, 03:27 »
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I'm considering applying to SS to become a contributor, but I'm a bit concerned about the tax situation, as I doubt that I'll be able to claim expenses and will end up being taxed on gross income while actually making a loss for a little while yet (hopefully not too long). For those who don't have exemptions is it proving too big a hit on income?


« Reply #1 on: July 04, 2009, 04:39 »
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newbielink:http://submit.shutterstock.com/forum/abt62243.html [nonactive]

« Reply #2 on: July 04, 2009, 11:00 »
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SS was going to  give further updates but so far, the two posts in May are all that we have to go with.  As it now stands for foreign contributors according to SS, they require more forms than others like Veer.  I wish SS would take Veer's lead and make available an online form that takes like 2 minutes to fill out and with one click, the form is sent.

« Reply #3 on: July 04, 2009, 11:04 »
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Avril, I thought you were on track for istock exclusivity.  What has changed?

« Reply #4 on: July 04, 2009, 11:28 »
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I wish SS would take Veer's lead and make available an online form that takes like 2 minutes to fill out and with one click, the form is sent.

They probably will. Just give it some time. Awaiting their solution, I just put my payout limit on a very unrealistic high number to avoid actual payout soon. Wait and see.

« Reply #5 on: July 04, 2009, 17:38 »
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Avril, I thought you were on track for istock exclusivity.  What has changed?
I got back into stock in May after a years break. I had two BMEs on istock (although admittedly not big numbers) and was uploading to the max. Then, no sales for over week. I've been sitting a couple of dls short of 250. Also I'm doing some 3d work at the moment. Fotolia accepted and sold some of my 3d work a year ago when I was just starting out, istock has rejected all of it. The sudden stop of sales and recent rejections of my current interest made me reconsider exclusivity. I think I'd be best to diversify my outlets.

ETA: I think I've changed my mind again. All that re-keywording and categorizing was proving a PITA, and that was for only one site. I do have iView Media Pro somewhere, but haven't felt the need to use it lately, so a re-learning curve for that. Maybe I'll go exclusive after all.
« Last Edit: July 04, 2009, 22:02 by averil »

« Reply #6 on: July 11, 2009, 18:48 »
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Updated yesterday:
quote:
To All Non U.S. Submitters:

We thank you for your patience while we have taken time to carefully design a new Tax Center, in which you will find detailed information on tax matters for non U.S. submitters. We will be launching the Tax Center inside our Submit site soon, and we will send you an email announcement when it has been launched.

We also want to assure you that we will not begin withholding any taxes until after the Tax Center launch, and after you have been given a chance to determine which forms you need to comply and can begin that process. No one should submit any forms to the IRS until we have provided the additional instructions.

We apologize for the delay in providing you more specific instructions but we are using this time to consolidate everything you may need in a single location.

Again, thank you for your patience.

Adam Riggs
President & CFO


Looks positive...
Claude

« Reply #7 on: July 11, 2009, 23:47 »
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I was hoping they would find another solution.  
« Last Edit: July 12, 2009, 04:51 by luceluceluce »

rinderart

« Reply #8 on: July 13, 2009, 16:21 »
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Don't know how it's going to work out but I know for sure there was a mass exodus of people that left.

« Reply #9 on: July 13, 2009, 18:26 »
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Don't know how it's going to work out but I know for sure there was a mass exodus of people that left.

Mass exodus of contributors?  Aren't most contributors in countries that had a reciprocal agreement?  What kinds of numbers are we talking about that actually left? 

I know it's a big deal and a major pain, but still hard to figure out how it would serve most people to leave SS altogether.  They are the #1 or 2 site for most, aren't they?

BTW, not defending the policy, I am just surprised that a large number of people would leave such a lucrative site.


 

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