pancakes

MicrostockGroup Sponsors


Author Topic: Istock being absorbed into Getty ...  (Read 37893 times)

0 Members and 1 Guest are viewing this topic.

« Reply #50 on: November 26, 2014, 09:11 »
+5
Sorry - the comment was about moving towards an automatic system that pays several months later for sales.  Not about taxes.


« Reply #51 on: November 26, 2014, 09:14 »
-2
Sorry - the comment was about moving towards an automatic system that pays several months later for sales.  Not about taxes.
Oh ok. 

« Reply #52 on: November 26, 2014, 09:15 »
+1
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?

We don't know yet because their email inferred that they would take out taxes. But if they are following the law we do a W8 and get 1099'd. That's the way it works and I wouldn't think it works any differently at getty.  The email should of just said we will follow US tax law, and not Inject one of several scenarios the law allows.
« Last Edit: November 26, 2014, 09:20 by Mantis »

« Reply #53 on: November 26, 2014, 09:20 »
+3
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?
We don't know yet because their email inferred that they would take out taxes. But if they are following the law we do a W8 and get 1099 treatment
I didn't read it that way.  This is what it says: "As a U.S. company, Getty Images (US), Inc. is required to follow Internal Revenue Service regulations, therefore withholding taxes may apply to your payments beginning in early 2015."
That's the same at SS isn't it?  You MAY have to have taxes withheld if you aren't from a treaty nation, right?

« Reply #54 on: November 26, 2014, 09:20 »
+1
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?

We don't know yet because their email inferred that they would take out taxes. But if they are following the law we do a W8 and get 1099 treatment

We do know, you just have to read the whole announcement and the FAQ in the forums. They will ask you for your tax details like all US based agencies. Fill out the W8 and depending on your country's tax treaties with the US you will either get 0% withholdings or a reduced amount or 30% only on US sales. Just like it is on Getty themselves and most likely all other US based agencies (I only can speak for myself and I get 100% of my royalties due to the German-US treaty).

« Reply #55 on: November 26, 2014, 09:21 »
0
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?
We don't know yet because their email inferred that they would take out taxes. But if they are following the law we do a W8 and get 1099 treatment
I didn't read it that way.  This is what it says: "As a U.S. company, Getty Images (US), Inc. is required to follow Internal Revenue Service regulations, therefore withholding taxes may apply to your payments beginning in early 2015."
That's the same at SS isn't it?  You MAY have to have taxes withheld if you aren't from a treaty nation, right?

Right. I amended my post slightly while you made your. But yes.

« Reply #56 on: November 26, 2014, 09:24 »
0
The email should of just said we will follow US tax law, and not Inject one of several scenarios the law allows.
"As a U.S. company, Getty Images (US), Inc. is required to follow Internal Revenue Service regulations, therefore withholding taxes may apply to your payments beginning in early 2015."

I don't see any scenarios in the email, it looks like they said exactly what you wanted it to say.  Did you get a different email than me?

« Reply #57 on: November 26, 2014, 09:31 »
+2
The email should of just said we will follow US tax law, and not Inject one of several scenarios the law allows.
"As a U.S. company, Getty Images (US), Inc. is required to follow Internal Revenue Service regulations, therefore withholding taxes may apply to your payments beginning in early 2015."

I don't see any scenarios in the email, it looks like they said exactly what you wanted it to say.  Did you get a different email than me?

The opetive word is JUST.  Quit trying to defend a poorly structured email. I am saying they shouldn't have said we may take out taxes. That is inferred in the first statement. They may also have w8 ....where does it say that? It doesn't. That's my point.

« Reply #58 on: November 26, 2014, 09:34 »
0
The email should of just said we will follow US tax law, and not Inject one of several scenarios the law allows.
"As a U.S. company, Getty Images (US), Inc. is required to follow Internal Revenue Service regulations, therefore withholding taxes may apply to your payments beginning in early 2015."

I don't see any scenarios in the email, it looks like they said exactly what you wanted it to say.  Did you get a different email than me?

The operTive word is JUST. I am saying they shouldn't have said we may take out taxes. That is inferred in the first statement.
But they may take taxes out, if you are from a country that doesn't have a treaty or you don't agree to the new terms and do the tax interview.  You have to answer some questions and provide some info or they will take taxes out, that's the default if you don't do what they ask. 

Micky_Mango

« Reply #59 on: November 26, 2014, 09:39 »
-7
Sorry - the comment was about moving towards an automatic system that pays several months later for sales.  Not about taxes.
It doesn't pay 'several months' late. Some people have an agenda here methinks.

« Reply #60 on: November 26, 2014, 09:41 »
-2
Edited, misread your comment.
« Last Edit: November 26, 2014, 10:03 by tickstock »

« Reply #61 on: November 26, 2014, 10:02 »
+6
Sorry - the comment was about moving towards an automatic system that pays several months later for sales.  Not about taxes.
It doesn't pay 'several months' late. Some people have an agenda here methinks.

Sure they do.  They report sales after the 20th of the next month, and then that payment arrives several months later.

« Reply #62 on: November 26, 2014, 10:06 »
0
Sorry - the comment was about moving towards an automatic system that pays several months later for sales.  Not about taxes.
It doesn't pay 'several months' late. Some people have an agenda here methinks.

Sure they do.  They report sales after the 20th of the next month, and then that payment arrives several months later.
You are saying they pay nearly 4 months after the sale?

Shelma1

  • stockcoalition.org
« Reply #63 on: November 26, 2014, 10:06 »
+4
Sorry - the comment was about moving towards an automatic system that pays several months later for sales.  Not about taxes.
It doesn't pay 'several months' late. Some people have an agenda here methinks.
He posted that right after I posted about taxes, I assumed that's what he was talking about.  I agree that it would be better if we got paid from Getty, Shutterstock, 123RF and any other site as quickly as possible.  I don't like having to wait on Getty or Shutterstock until the next month to get paid.

You're not on Shutterstock. So you don't wait to get paid by them.

Shutterstock pays very quickly at the beginning of the month and reports all sales in real time.

iStock doesn't report the bulk of sales (PP, subs, etc.) until the end of the following month, weeks after you've already been paid by Shutter. And now they'll make you wait until the end of the month after that to get paid.

« Reply #64 on: November 26, 2014, 10:10 »
-1
Sorry - the comment was about moving towards an automatic system that pays several months later for sales.  Not about taxes.
It doesn't pay 'several months' late. Some people have an agenda here methinks.
He posted that right after I posted about taxes, I assumed that's what he was talking about.  I agree that it would be better if we got paid from Getty, Shutterstock, 123RF and any other site as quickly as possible.  I don't like having to wait on Getty or Shutterstock until the next month to get paid.

You're not on Shutterstock. So you don't wait to get paid by them.

Shutterstock pays very quickly at the beginning of the month and reports all sales in real time.

iStock doesn't report the bulk of sales (PP, subs, etc.) until the end of the following month, weeks after you've already been paid by Shutter. And now they'll make you wait until the end of the month after that to get paid.
I am on Shutterstock, for video and I am waiting for my payment (they are the weakest of the sites I contribute to so I may drop them soon).  Still exclusive for photos at iStock.  I'm not sure if that is correct either.  Your balance changes when the PP and sub sales are counted.  They've said if you have $100 in your balance on the 25th then you will get paid.  Maybe I'm reading that wrong but it looks like as long as those sales are posted by the 25th you will get paid for them then.  If you can find something that contradicts that please post it, I don't think it's been clearly stated one way or the other.
Even if they do pay a month later that's 1 month and 25 days not 3+ months and 20 days like Sean was saying, I'm not sure what he's talking about?
« Last Edit: November 26, 2014, 11:09 by tickstock »

« Reply #65 on: November 26, 2014, 10:45 »
+7
My last post got whacked so I guess I have to back off now. My question is. If my earnings are in realtime and the money I earn each month is mine why do I have to wait to get what I earned? This is a cash flow grab by Getty. The system should be simple and that is this. Last payout date Jan. 25 your next payment will be on Feb. 25 so the earnings from Jan 25 to Feb 25 with be paid to you. Now on the 25th of each month you will be paid. They are basically taking one month away from you and if you ever had to leave then there is a good chance you will never see that money. I am sure this is legal but ethical it is not!

« Reply #66 on: November 26, 2014, 10:46 »
+4
Sorry - the comment was about moving towards an automatic system that pays several months later for sales.  Not about taxes.
It doesn't pay 'several months' late. Some people have an agenda here methinks.

Sure they do.  They report sales after the 20th of the next month, and then that payment arrives several months later.
You are saying they pay nearly 4 months after the sale?

Yep.  My sales in June 2014 were reported around July 20, 2014 and the payment arrived in my account on September 25, 2014.

« Reply #67 on: November 26, 2014, 10:53 »
0
Yep.  My sales in June 2014 were reported around July 20, 2014 and the payment arrived in my account on September 25, 2014.
That doesn't sound normal, it didn't take that long for my payment to come in. 

« Reply #68 on: November 26, 2014, 10:53 »
+9
Board Meeting 2006:

Getty:   "We are Getty. Lower your shields and surrender your servers. We will add your biological and technological distinctiveness to our own. Your culture will adapt to service us. Resistance is futile."

Istock:  Yay! This means we can finally kick some Shutterstock ass

« Reply #69 on: November 26, 2014, 10:55 »
0

Yep.  My sales in June 2014 were reported around July 20, 2014 and the payment arrived in my account on September 25, 2014.

Sales at Istock Sean? Have they re-opened your account?

« Reply #70 on: November 26, 2014, 10:57 »
0

Yep.  My sales in June 2014 were reported around July 20, 2014 and the payment arrived in my account on September 25, 2014.

Sales at Istock Sean? Have they re-opened your account?
I think he's talking about Getty sales, he still has a small amount left there. 

Sean are you sure you reached the payout level then and not a month or two later?

« Reply #71 on: November 26, 2014, 11:18 »
0

Yep.  My sales in June 2014 were reported around July 20, 2014 and the payment arrived in my account on September 25, 2014.

Sales at Istock Sean? Have they re-opened your account?
I think he's talking about Getty sales, he still has a small amount left there. 

Sean are you sure you reached the payout level then and not a month or two later?

No, the amount of the sales report was the amount paid.  It wasn't an aggregate amount. 

This isn't something new.

Shelma1

  • stockcoalition.org
« Reply #72 on: November 26, 2014, 11:21 »
-1
Sorry - the comment was about moving towards an automatic system that pays several months later for sales.  Not about taxes.
It doesn't pay 'several months' late. Some people have an agenda here methinks.
He posted that right after I posted about taxes, I assumed that's what he was talking about.  I agree that it would be better if we got paid from Getty, Shutterstock, 123RF and any other site as quickly as possible.  I don't like having to wait on Getty or Shutterstock until the next month to get paid.

You're not on Shutterstock. So you don't wait to get paid by them.

Shutterstock pays very quickly at the beginning of the month and reports all sales in real time.

iStock doesn't report the bulk of sales (PP, subs, etc.) until the end of the following month, weeks after you've already been paid by Shutter. And now they'll make you wait until the end of the month after that to get paid.
Maybe I'm reading that wrong but it looks like as long as those sales are posted by the 25th you will get paid for them then.

That's a big if. If it's true.

« Reply #73 on: November 26, 2014, 11:34 »
0
Maybe I'm reading that wrong but it looks like as long as those sales are posted by the 25th you will get paid for them then.

That's a big if. If it's true.
Either way it looks like you don't get a choice in the matter, you've just got to deal with it or move on.

« Reply #74 on: November 26, 2014, 14:03 »
+5
The email should of just said we will follow US tax law, and not Inject one of several scenarios the law allows.
"As a U.S. company, Getty Images (US), Inc. is required to follow Internal Revenue Service regulations, therefore withholding taxes may apply to your payments beginning in early 2015."

I don't see any scenarios in the email, it looks like they said exactly what you wanted it to say.  Did you get a different email than me?

The opetive word is JUST.  Quit trying to defend a poorly structured email. I am saying they shouldn't have said we may take out taxes. That is inferred in the first statement. They may also have w8 ....where does it say that? It doesn't. That's my point.

Funny, what I read it to say is "we MAY" ... IF we can get our $hit together and figure out how to withhold the right amount and submit it to the IRS within filing deadlines - otherwise, we will just collect from you retroactively several months after we were supposed to.  We're sure eventually someone will graduate from U of Seattle that can figure this coding stuff out and we won't have too much downtime.


 

Related Topics

  Subject / Started by Replies Last post
5 Replies
8568 Views
Last post November 29, 2014, 23:51
by pancaketom
0 Replies
2283 Views
Last post September 08, 2010, 16:33
by grp_photo
53 Replies
17308 Views
Last post May 24, 2012, 04:03
by BaldricksTrousers
2 Replies
3017 Views
Last post February 25, 2013, 10:29
by Pinocchio
120 Replies
25704 Views
Last post July 31, 2013, 11:36
by Ron

Sponsors

Mega Bundle of 5,900+ Professional Lightroom Presets

Microstock Poll Results

Sponsors