Microstock Photography Forum - General > Newbie Discussion

1099 Taxes based on payout or earnings?

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Uncle Pete:
Thanks for asking, I'll make a note. I just work from the 1099s so I never noticed the small variations. But good to know.

sgoodwin4813:

--- Quote from: mj007 on December 27, 2020, 13:32 ---I may be incorrect, as my wife says I am most of the time.

--- End quote ---

Listen to your wife. 

Adobe has always done it that was as far as I know.  All of the other companies do it by payouts, so if you don't request a payout then you won't owe any taxes until you do.  With Adobe you owe taxes regardless of payouts.  The good thing about that is that you won't owe any more when you do claim it.

SpaceStockFootage:
But don't the majority of other companies not have the ability to request a payout... they send them to you automatically when you reach a certain amount?

sgoodwin4813:

--- Quote from: SpaceStockFootage on December 28, 2020, 14:22 ---But don't the majority of other companies not have the ability to request a payout... they send them to you automatically when you reach a certain amount?

--- End quote ---

Dreamstime, Canstock, Bigstock, Deposit, Featurepics as well as Adobe all hold onto your earnings until you ask for them.  Might be a couple of others, I can't remember off the top of my head.  I usually go and request my money from all of those at the end of the year, although never got around to it this year - will make my taxes easier in April.

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