Microstock Photography Forum - General > Newbie Discussion

Tax Questions (US)

(1/3) > >>

JohnTravolski:
I recently learned that Envato's 1099s report income as including some of the "author fees" that they charge, and the correct way to get around that is to deduct those "author fees" as expenses on a schedule C (I think).

Does anybody know if there are other agencies that do something similar? Or is there anything else I need to watch out for? What's everything that you deduct on your schedule C?

I only started selling stock late last year (I only made $140 from Shutterstock and Adobe in 2019 so I didn't bother with a schedule C for that tax year), but now that I'm making more and I'm on more agencies I don't know what to expect for my 2020 taxes. I know it's still way early but I want to be proactive and not have any unpleasant surprises last minute.

JohnTravolski:
Or do any of you report this as royalty income on a schedule E? I'm so confused since this isn't my primary source of income.

Clair Voyant:
You could try adulting and contact a certified accountant in your jurisdiction.

That said, does anyone know how to replace my transmission fluid gasket on a 69 Chevy?

Sean Locke Photography:

--- Quote from: JohnTravolski on September 29, 2020, 21:11 ---Or do any of you report this as royalty income on a schedule E? I'm so confused since this isn't my primary source of income.

--- End quote ---

No.  And you can read why here : https://www.microstockgroup.com/general-stock-discussion/moving-to-the-u-s-tax-questions/msg556922/?topicseen#new

Uncle Pete:

--- Quote from: Clair Voyant on September 29, 2020, 23:29 ---You could try adulting and contact a certified accountant in your jurisdiction.

That said, does anyone know how to replace my transmission fluid gasket on a 69 Chevy?

--- End quote ---

Blazer, Camaro, Kingswood, Brookwood, Townsman, Biscayne, Chevelle or something else, like a pickup truck?   

Find a CPA

Navigation

[0] Message Index

[#] Next page