MicrostockGroup

Agency Based Discussion => 123RF => Topic started by: Jo Ann Snover on June 17, 2015, 10:01

Title: Taxation on U.S. Source Earnings from 123RF
Post by: Jo Ann Snover on June 17, 2015, 10:01: Just received e-mail this morning from 123rf saying that starting July 1 2015 they will withhold tax on US based downloads based on country of residence.

I just went to the site and found the tax center (I didn't click on the link in the e-mail just in case it was phishing) and submitted my online W9 (I'm a US resident) and it seemed to go as expected.

Just posting here so that if someone didn't (for whatever reason) get the e-mail they can log in over the next couple of weeks and take care of the paperwork

In the "For Contributors" section at the bottom of website pages there's a new Tax Center link

http://www.123rf.com/tax/index.php (http://www.123rf.com/tax/index.php)
Title: Re: Taxation on U.S. Source Earnings from 123RF
Post by: sweetgirll on June 17, 2015, 10:09: Got the email....and
I thought 123RF was a company based in another country...
Title: Re: Taxation on U.S. Source Earnings from 123RF
Post by: Mantis on June 17, 2015, 11:25: Either way I pay my taxes at years end and am not subject to withholding. This SUCKS!
Title: Re: Taxation on U.S. Source Earnings from 123RF
Post by: Semmick Photo on June 17, 2015, 12:23: Just filled out my wben8 or whatever it's called. Pretty quick prepopulated form.
Title: Re: Taxation on U.S. Source Earnings from 123RF
Post by: Noedelhap on June 17, 2015, 13:28: I'm surprised they didn't need a tax form from me before.

But, we've been informed only 2 weeks before the deadline. Would've been better if we were given notice of this a month before. Just to be sure everyone gets plenty of time to fill in the form.
Title: Re: Taxation on U.S. Source Earnings from 123RF
Post by: zstoimenov on June 17, 2015, 20:36: UP for the topic. Just in case someone missed it. :)
It was pretty quick to complete compared to some other agencies. :o
Title: Re: Taxation on U.S. Source Earnings from 123RF
Post by: pixsol on June 26, 2015, 01:36: Completed the W8-BEN form. It was quick and easy.

I always thought that 123RF was a company based in the UK. Did I miss any information that they have moved to / bought by an US company ?
Title: Re: Taxation on U.S. Source Earnings from 123RF
Post by: skyfish on June 28, 2015, 06:40: Yes surprisingly easy form
Title: Re: Taxation on U.S. Source Earnings from 123RF
Post by: motionguy on October 02, 2015, 01:46: Hello everybody.
May be it is a stupid question. But for my VAT-declaration I need to know which country 123rf is based and I am still not sure which country it is because they have offices in several countries.
Because we need the W8BEN I would think it is US-based but I am quite confused.
Could anybody please help me and tell me from what country 123rf is?
Title: Re: Taxation on U.S. Source Earnings from 123RF
Post by: Dodie on October 02, 2015, 14:00: Quote from: BlackJack on October 02, 2015, 01:46
Could anybody please help me and tell me from what country 123rf is?
Headquarters: Chicago, United States
https://en.wikipedia.org/wiki/123RF (https://en.wikipedia.org/wiki/123RF)
Title: Re: Taxation on U.S. Source Earnings from 123RF
Post by: motionguy on October 03, 2015, 02:22: @Dodie
Thank you very much. :)
Title: Re: Taxation on U.S. Source Earnings from 123RF
Post by: Dodie on October 03, 2015, 04:41: You're welcome BlackJack.
Title: Re: Taxation on U.S. Source Earnings from 123RF
Post by: 60D on October 06, 2015, 18:57: Sorry for the stupid question, but what will happen to those withheld money?
Title: Re: Taxation on U.S. Source Earnings from 123RF
Post by: Dumc on October 07, 2015, 00:51: .
Title: Re: Taxation on U.S. Source Earnings from 123RF
Post by: Dodie on October 07, 2015, 05:16: Quote from: 60D on October 06, 2015, 18:57
Sorry for the stupid question, but what will happen to those withheld money?
You will have to deduct this amount from the total amount or taxes you have to pay in your own country at the beginning of the next year.
Title: Re: Taxation on U.S. Source Earnings from 123RF
Post by: gcrook on October 07, 2015, 05:58: Quote from: 60D on October 06, 2015, 18:57
Sorry for the stupid question, but what will happen to those withheld money?

Better start researching this depending on the country you live.
Agencies that hold taxes via the American IRS send you a report at the end of the fiscal year stating how much they taxed you and for what amount of total sales.You will -propably- need to have this tax report made official via the American Agency of your country of residence and declare it in your revenue report to avoid double taxation.The rest of the income that was not taxed you need to report it as standard income so you can get taxed from your own country.
Title: Re: Taxation on U.S. Source Earnings from 123RF
Post by: 60D on October 07, 2015, 06:12: Thanks for the info.
Title: Re: Taxation on U.S. Source Earnings from 123RF
Post by: Johnski2015 on May 27, 2016, 21:19: Just checked my account and I have been paying US Tax but I am from Russia - can I get this Tax back? I have now submitted form - thanks