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Author Topic: Withholding for US sales is incorrect  (Read 2510 times)

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« on: June 28, 2018, 06:19 »
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I just checked my sales on FT (just for this month) and I noticed that withholding for US sale is higher than it should be.
I have 92% US sales (unfortunately), withholding for my country should be 10% but the stat shows 11% withheld. Translated into money, the withholding is more than taxes would be for my total earnings.

I would like to know if anyone else has this happening.
Thank you.
« Last Edit: June 28, 2018, 06:22 by Dodie »


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« Reply #1 on: June 28, 2018, 07:09 »
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Does it specifically say something like... "we're withholding 10%" or have you just 'done the math'? Sorry to doubt you, but you might be missing something. Never heard of them withholding the wrong amount... and if they were, it would be a withholding percentage that exists. There isn't an 11% withholding rate for any country.

« Reply #2 on: June 28, 2018, 07:26 »
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Of course there is no 11%, this percent is only for my sales and only this month. It is different for every month.
In the meantime I figured out where the difference comes from, they round up each tax percent at each sale e.g.:
sale $0.34
withholding: $0.04

Yes, they are specifically say on the detail page "withholding 10% = 0.04"

Other agencies, the ones that show "earnings before tax/ after tax" are not doing this.

I knew about the fact that they round up some values but I never realized how much money that means, especially now when there are only US sales, almost no sales from the rest of the world.

niktol

« Reply #3 on: June 28, 2018, 07:36 »
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Fotolia does show rounded numbers in its "sales" interface. However, when final numbers are shown for an extended period of time, the numbers are supposedly accurate and have more significant figures (e.g. in "my statistics"). Which creates a mismatch between what you calculate from the "sales" interface and their reported value in "my statistics". It's annoying, but in your case probably just means that they withhold 10%, not more and you will get the correct amount by the end of the month.
« Last Edit: June 28, 2018, 07:43 by niktol »

« Reply #4 on: June 28, 2018, 07:43 »
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Fotolia does show rounded numbers in its interface. However, when final numbers are shown for an extended period of time, the numbers are supposedly accurate. Which creates a mismatch between what you calculate from interface and their final reported value. It's annoying, but in your case probably just means that they withhold 10%, not more and you will get the correct amount by the end of the month.
Well, would like to check this theory but I have earnings from several month and I don't remember when I last converted my credits. Is there a page where I can see the date of my past conversions, I can't find it?

niktol

« Reply #5 on: June 28, 2018, 07:48 »
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Well, would like to check this theory but I have earnings from several month and I don't remember when I last converted my credits. Is there a page where I can see the date of my past conversions, I can't find it?

Go to "contributor area" then to "my sales". Calculate how much you earn before tax for a particular day. Then to "my statistics" and choose "how many credits I earned" and choose the period including the same day. Calculate how much you paid in taxes on that day. If the number is much closer to 10% than to 11%, problem solved. If not, send a message from your interface.

« Reply #6 on: June 28, 2018, 08:08 »
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Well, would like to check this theory but I have earnings from several month and I don't remember when I last converted my credits. Is there a page where I can see the date of my past conversions, I can't find it?

Go to "contributor area" then to "my sales". Calculate how much you earn before tax for a particular day. Then to "my statistics" and choose "how many credits I earned" and choose the period including the same day. Calculate how much you paid in taxes on that day. If the number is much closer to 10% than to 11%, problem solved. If not, send a message from your interface.

Thanks, I did that and yes, it is closer to 10%. I can't understand why can't they show the right amount, they don't pay taxes every second.

Thanks again.

niktol

« Reply #7 on: June 28, 2018, 08:17 »
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Thanks, I did that and yes, it is closer to 10%. I can't understand why can't they show the right amount, they don't pay taxes every second.

Thanks again.

It's like the Y2K problem, noone ever thought we may need more digits.  8)

« Reply #8 on: June 28, 2018, 08:22 »
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Thanks, I did that and yes, it is closer to 10%. I can't understand why can't they show the right amount, they don't pay taxes every second.

Thanks again.

It's like the Y2K problem, noone ever thought we may need more digits.  8)

 :) Many years passed since then but not much changed.


 

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