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Author Topic: Taxes: W-9, 1099, etc  (Read 3601 times)

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« on: January 28, 2009, 16:03 »
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This year only Shutterstock asked me for W-900 (I made more than $600). Does it mean that only SS is obligated to provide me with 1099 form? How do I handle others where I made some small payout last year?


« Reply #1 on: January 28, 2009, 16:18 »
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« Reply #2 on: January 28, 2009, 16:38 »
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Thanks.

I haven't received 1099-MISC from SS yet so I should wait for it then I would be ready to buy tax software.

« Reply #3 on: January 28, 2009, 18:09 »
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i really dont understand these tax-thinks... shutterstock will have a w8 i think... here in germany... we dont have these kind of documents... i really dont know what to do.. hope i get my money this month of shutter without filling anything

helix7

« Reply #4 on: February 05, 2009, 23:56 »
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My policy has been and will continue to be this regarding taxes and microstock: Give everything to my accountant and let him work it out.

Seriously, just tell your tax professional how much you earned and where from. Better to report everything than not report it and get in trouble later.

FYI, most microstock companies will report your earnings to the IRS, no matter how little you earn. Don't think that if you earned $200 you don't need to tell the government about it. The agencies are reporting it. You should too. It's also good to tell your tax professional about your income from other countries. Just because I'm in the US and istock is in Canada doesn't mean that I can get away with not reporting that income. Just tell them everything, and a good accountant will steer you in the right direction.

Of course I'm no tax professional, so don't take my word for it. Do your own due diligence and be sure to talk to your own tax guy. Let him know where your money has been coming from, no matter not much or how little. He will tell you what you need to do.

« Last Edit: February 06, 2009, 00:02 by helix7 »


 

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