Microstock Photography Forum - General > Off Topic
ugh ... end of the year ... accounting.
Noedelhap:
--- Quote from: Sean Locke Photography on January 01, 2018, 09:37 ---When the money gets into my bank account, that's when it is reported.
--- End quote ---
Exactly.
It'd be too complicated and time-consuming to keep track of every single unpaid sale on every agency, if not impossible. You can get refunds, clawbacks and accounting errors from the agency.
If the tax collector is gonna say I'm doing it wrong, I'll happily invite him for a cup of coffee and a place at my desk to manually investigate thousands and thousands of individual sales. He'll be gone as quick as he came.
DallasP:
--- Quote from: Noedelhap on January 02, 2018, 07:34 ---
--- Quote from: Sean Locke Photography on January 01, 2018, 09:37 ---When the money gets into my bank account, that's when it is reported.
--- End quote ---
Exactly.
It'd be too complicated and time-consuming to keep track of every single unpaid sale on every agency, if not impossible. You can get refunds, clawbacks and accounting errors from the agency.
If the tax collector is gonna say I'm doing it wrong, I'll happily invite him for a cup of coffee and a place at my desk to manually investigate thousands and thousands of individual sales. He'll be gone as quick as he came.
--- End quote ---
Yeah, that would be quite a task.
StanRohrer:
My CPA (in the USA) is OK with recording the monthly cash deposit to the bank account as a lump group of sales. If the IRS comes calling, he will have to help defend the method.
jjneff:
Bottom line report all of your income and you will be fine. I give all my income statements and earnings to my accountant and let him
worry about it!
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