MicrostockGroup Sponsors

About taxes and specially US forms

Started by Mrblues101, December 07, 2022, 14:19

Previous topic - Next topic

Mrblues101

I am not as active in MicroStock business since SS change the payment rates in 2019... anyway sometimes I still upload some pics and I also get a floor incoming from my previous work...

Anyway, I am considering creating a new company within USA being non-resident.

I just want to ask, did my old SS and DreamsTime US tax payer status make this process more complicated? After all, I am a tax payer within USA.

In the other hand, I always have two different forms, one for DreamsTime and one for SS, this was ok?? Or should I see the way to use the same number and same forms for both agencies??

cascoly

Quote from: Mrblues101 on December 07, 2022, 14:19
I am not as active in MicroStock business since SS change the payment rates in 2019... anyway sometimes I still upload some pics and I also get a floor incoming from my previous work...

Anyway, I am considering creating a new company within USA being non-resident.

I just want to ask, did my old SS and DreamsTime US tax payer status make this process more complicated? After all, I am a tax payer within USA.

In the other hand, I always have two different forms, one for DreamsTime and one for SS, this was ok?? Or should I see the way to use the same number and same forms for both agencies??
you'll need to check with the IRS website for details on any changes

but old statements shouldn't matter - you would just report the 1099 you receive for current tax year

not sure which 'number' you're referring to
Steve Estvanik 
travel & photo blog https://cascoly-images.com

Mrblues101

Quote from: cascoly on December 07, 2022, 18:52
Quote from: Mrblues101 on December 07, 2022, 14:19
I am not as active in MicroStock business since SS change the payment rates in 2019... anyway sometimes I still upload some pics and I also get a floor incoming from my previous work...

Anyway, I am considering creating a new company within USA being non-resident.

I just want to ask, did my old SS and DreamsTime US tax payer status make this process more complicated? After all, I am a tax payer within USA.

In the other hand, I always have two different forms, one for DreamsTime and one for SS, this was ok?? Or should I see the way to use the same number and same forms for both agencies??
you'll need to check with the IRS website for details on any changes

but old statements shouldn't matter - you would just report the 1099 you receive for current tax year

not sure which 'number' you're referring to

I also don't know about the 'number' I am refering, I just never pay attention to tax thing up to now. My point with the 'number' is that by filling the form I get a "US tax payer ID" or something, and once I get I should use the same for each agency (??).

I never do nothing with the 1099 form I get from SS, my interpretation was that by not being US recident I should use this in my country for local taxes proposes, I am wrong?

Mrblues101

Ok, I just keep researching about it, and I realize that the "number" I was talking about is the ITIN (Individual Tax Identification Number).

So, by filling the SS and DT tax forms, did this assignated me an ITIN??

SpaceStockFootage

You need to apply to the IRS to get a ITIN... but you don't really need one, as a non-US individual you should be using your Foreign Tax Identification Number, which is your tax ID in your own country. Although if you have, or do, set up a US company then you'll be using the ITIN instead, which should be provided to you at some point during the setup.

Mrblues101

Quote from: SpaceStockFootage on December 15, 2022, 03:17
You need to apply to the IRS to get a ITIN... but you don't really need one, as a non-US individual you should be using your Foreign Tax Identification Number, which is your tax ID in your own country. Although if you have, or do, set up a US company then you'll be using the ITIN instead, which should be provided to you at some point during the setup.

Thank you for your reply SpaceStockFootage.

Yes, I was unable to formulate the question properly due to my ignorance of the US tax system.

Now I research more, my original question is: did I get an ITIN by filling the microstocks tax forms??

And the reply is actually NO.

And I actually don't want an ITIN now, because as non-US resident if I already have one, then the process is apparently more complicated.

Astrantia

#6
Adobe asked me to fill in a new W 8 BEN form.

I don´t understand which numbers they want to know at - 6 a tax number and  -7 reference number.
In brackets it says "see instructions".
But I can´t find those instructions.
Where are those instructions????????????

cascoly

Steve Estvanik 
travel & photo blog https://cascoly-images.com

Mrblues101

I think once I open my LLC in US, after I get my ITIN, then I should include the ITIN in my W8BEN form. What I don't want is that royalties in microstock agencies made the company taxes papers more complicated, but I think this will not affect the forms.

Astrantia

Quote from: cascoly on December 17, 2022, 19:05
https://www.irs.gov/pub/irs-pdf/iw8ben.pdf

google IRS instructions {form name}  for many you need

Thanks for the link!

Man- is that difficult to understand.... I had it translated into german but that makes it even worse to understand  ::)
What the heck is a "Quellensteueragent"  ::)

Anyway- if I understand correctly 6a is only if one has bank account with a US bank and 7 is for ... well... I don´t really understand... somebody helped with financial issues????

Well, I left both blank and hope that was correct.

Tanks again for your help!

cascoly

Quote from: Astrantia on December 18, 2022, 20:16...

Man- is that difficult to understand.... I had it translated into german but that makes it even worse to understand  ::)
What the heck is a "Quellensteueragent"  ::)
...

maybe they shpould be using chatGPT!

looks like that's a 'with-holding agent'   - eg agencies like canva which hold part of your earnings as estimated taxes. when you list them on your tax form they reduce your taxes owed. canva is the only agency i know who does this automatically
Steve Estvanik 
travel & photo blog https://cascoly-images.com