Quote from: Micky_Mango on November 25, 2014, 15:49

Quote from: Red Dove on November 25, 2014, 14:27

I'm thinking I can handle any tax changes coming out of this, either by claiming them back internally or being covered by existing treaties (England) to pay zero at source.

What makes my blood really boil is the fact their bean counter toadies have finally figured out a way to hang on to their cash flow for as long as possible - by delaying payment to me for as long as possible.

Are you aware of how many hoops you have to jump through to fill in the forms? I and a number of other just gave up and paid the 30% tax witholding on Getty incomes. You don't have to pay again once that income is in the UK ( there is a principal that you only pay tax on income once) but you would probably pay less tax in UK.

Check the iStock forum, it looks like rules have changed.  At least for UK contributors.

I read what was written there.
It doesn't seem to fully agree with what the US Embassy in the UK site says here:
http://london.usembassy.gov/irs/irsitin.html
I guess we'll have to suck it and see, in due course, and make our decisions accordingly.

Quote from: stock-will-eat-itself on November 25, 2014, 14:43

Quote from: Red Dove on November 25, 2014, 14:27

I'm thinking I can handle any tax changes coming out of this, either by claiming them back internally or being covered by existing treaties (England) to pay zero at source.

What makes my blood really boil is the fact their bean counter toadies have finally figured out a way to hang on to their cash flow for as long as possible - by delaying payment to me for as long as possible.

No different from SS they always payout once per month.

On the 7th !!!!

Not that it makes any difference, looks like I'm getting my first mid week zero sales day in 10 years!

The atmosphere inside iS must pretty rough, there's no hiding behind denial anymore.

I just hope they accept a W8 form and not take out any taxes for me in the USA. I, like many of you, have a lot that goes into my tax calculations at the end of the day and taking a fixed % as the only way to deal with taxes is silly. I can't see that they wouldn't offer a W8 option. Other agencies do......I have no taxes taken out from other agencies, then I get slammed only once a year at whatever my net income is. 

I'm wondering what this really means for Istock as a business and brand name. Will they cease to exist eventually...? Why then would they change from iStockphoto to iStock, if Getty was taking over anyway?

I don't think they plan that far in advance.

Quote from: Mantis on November 25, 2014, 16:54

I just hope they accept a W8 form and not take out any taxes for me in the USA. I, like many of you, have a lot that goes into my tax calculations at the end of the day and taking a fixed % as the only way to deal with taxes is silly. I can't see that they wouldn't offer a W8 option. Other agencies do......I have no taxes taken out from other agencies, then I get slammed only once a year at whatever my net income is. 

They must offer a W8-BEN option, otherwise it's a no-brainer for me. No way I'm going to pay double taxes.

Even Getty can not re-write tax treaty laws so the W8 should still work fine.

And even if you did by some mis-fortune end up paying withholding taxes most countries have systems to avoid paying double taxes (at least the UK does anyway)

Quote from: Nikovsk on November 25, 2014, 13:19

So besides getting less sales, now I have to pay 30% tax to US...

Why? Your country has no tax treaty with the US?

No...

Quote from: Mantis on November 25, 2014, 16:54

I just hope they accept a W8 form and not take out any taxes for me in the USA. I, like many of you, have a lot that goes into my tax calculations at the end of the day and taking a fixed % as the only way to deal with taxes is silly. I can't see that they wouldn't offer a W8 option. Other agencies do......I have no taxes taken out from other agencies, then I get slammed only once a year at whatever my net income is. 

They must offer a W8-BEN option, otherwise it's a no-brainer for me. No way I'm going to pay double taxes.

There is no way you need to pay double taxes, whatever forms you do or don't fill in. If your income is taxed in one country, you don't pay tax on it in the UK. Your accountant will confirm this.

Quote from: KB on November 25, 2014, 20:14

The 25th (or, it sounds to me, even later) is totally unacceptable.

It's not just those 18 days in difference. It's also that I nowadays make 60% of my royalties through the PP and Subscription sales, and those are only being reported a month later already.

So when I get a subscription download on January 15 next year, Shutterstock will pay out that amount on (or around) February 7 but iStock will most likely pay out the same money only on March 25 (as I don't get to see the sale before early in February). That's about 70 days delay between sale and payment.

That's exactly right. I was trying to figure out the wording but you beat me to it.  But cashflow is king and leave it to Getty/IS to find a way. Also, sub plans in general are way more favorable for MS companies than credit sales anyway because they (let's say Istock) gets paid for the whole plan up front and doesn't pay YOU until roughly 70 days after that sale of your image happens. For THEM it's 70 days PLUS the delta between that sale to you and when the plan was purchased. Subs really are a scam.

First step to your %20 flat rate.

That much! Pay raise 

Hmm I wonder if that snark Lobo will have to get a new job now

Yes, he will become an IRS Agent 

A lot of people that don't have a 0% tax agreement with the US and their country wont want to give the US government tax and will leave.  Don't think getty will mind, they seem to of tried everything else to make people leave istock.  If it isn't a quick simple task to get the 0% for a UK contributor, I will probably leave as well.

Don't you have to do the exact same thing for SS?  You've had to do this at Getty already.

From the forum: "from what people are saying other sites do exactly the same as Getty"

I'm not sure what Getty does is something to strive towards.

Isn't this about following tax laws in the United States?  I don't see how you can blame Getty for that.  Can you explain what they are doing differently than is required by law?