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Messages - w7lwi
Pages: 1 2 [3] 4 5 6 7 8 ... 25
51
« on: April 03, 2016, 21:00 »
The $0.38 is a Facebook sale. And we all know how we're getting screwed on EL's. 
52
« on: March 30, 2016, 12:53 »
All together now, let's sing the Bluegrass song:
All the good times have past and gone
All the good times are over
All the good times have past and gone
Little darlin', don't you weep no more
53
« on: March 20, 2016, 17:20 »
Same e-mail here. I note it says payment has been "authorized" not actually paid. It is dated the 18th, which is what they originally said, so it will be interesting to see when the funds actually appear in my PayPal account.
54
« on: March 12, 2016, 21:34 »
OK, I think we are saying the same thing, just in a different fashion.
I have royalty income from multiple sources other than just microstock so I need to address both cases. For microstock, there is a place on schedule C to enter all 1099-MISC royalty income. This income does not go on schedule E. As you say, this income is subject to self- employment tax. My other royalty income, which is also reported on a 1099-MISC is entered on schedule E. The IRS rules I noted above are for the person/group issuing the 1099-MISC to us. It says the payments should be reported as royalty and that a 1099 should be issued if the sum of all payments equals or exceeds $10.00. My other royalty payments fall under the $600 minimum requirement so I handle them differently. It is up to us to report these payments in the correct schedule (C or E) so the appropriate tax may be assigned. Of course all this presupposes we are handling microstock income as a business, this requiring a schedule C. This is how my tax attorney has been handling this for several years and, to date at least, we've had no issues with the IRS.
55
« on: March 12, 2016, 11:12 »
That is also incorrect. Royalties, while you are actively involved in producing content, are not 'royalties' as far as the IRS is concerned for reporting. It is just 'income'. Which is probably why they wait for the $600 threshold to file.
Sean, unfortunately this is also incorrect. Take a look at any 1099-MISC from any agency and notice all earnings are listed in box 2 which is reserved for royalties. The following is an excerpt from the IRS instructions to companies that are in the business of selling works created by others: Use box 2 to report royalty payments from intangible property such as patents, copyrights, trade names, and trademarks. Report the gross royalties (before reduction for fees, commissions, or expenses) paid by a publisher directly to an author or literary agent, unless the agent is a corporation. The literary agent (whether or not a corporation) that receives the royalty payment on behalf of the author must report the gross amount of royalty payments to the author on Form 1099-MISC whether or not the publisher reported the payment to the agent on its Form 1099-MISC.Our images are copyrighted works being sold by our agents (Envato's claims not withstanding). Thus any earnings derived from them are considered royalty payments to us and is the reason all 1099-MISC forms show these earnings as such.
56
« on: March 11, 2016, 21:10 »
Regrettably the preceding advice is incorrect. There was (and still is) an old belief that you were only issued a 1099-MISC if the royalty was $600 or greater. The actual IRS code now states that if you received royalty income, which is how microstock earnings are classified, of $10.00 or more a 1099-MISC is supposed to be issued. For whatever reason, many agencies tend to ignore this requirement. Regardless of whether or not you receive a 1099, you are required by US law to report all income received, no matter how small the amount. So keep detailed records of all monies received. You, not the agency, are responsible for reporting it all to the IRS.
57
« on: March 06, 2016, 21:43 »
Thank you for you replies
Not sure about other sites, but SS has said they will not accept images that are from public domain sources. I believe this even includes editorial shots.
Im not asking to upload images to SS or other microstock site, i just want to upload some muscle images to my future fitness blog; everybody use this book images, also wikipedia, i just want to learn a little more about this kind of images licence to know if i can really use it in future.
Sorry, I misunderstood your question. Once an image is in public domain, you can use it for any purpose you desire, including your blog site, web site and so on. "Public domain" means copyright restrictions are no longer in effect.
58
« on: March 06, 2016, 14:21 »
Not sure about other sites, but SS has said they will not accept images that are from public domain sources. I believe this even includes editorial shots.
59
« on: March 06, 2016, 14:14 »
Thanks all. It's only been a few days so I'll just be patient and see how it goes. 
60
« on: March 05, 2016, 16:40 »
This is probably covered somewhere here on MSG or on the FT site, but I haven't located it yet. Once you request a payout (convert credits) how long, approximately, does it take for funds to show up in your PayPal account?
61
« on: March 04, 2016, 12:34 »
Just received an e-mail from Lee that Canva is finally working out a way to accept and sell vectors. Still a few issues to work out, but progress is being made. The entire e-mail is too long to include here, so here's an excerpt of a relevant portion.
"Were still going to be holding back sets and vectors with either crop marks or sample text. Well create techniques to make them work in Canva next, but for now, all other vectors will go straight into the Canva library and appear for sale.
When to expect your vectors to go in.
We have well over a million vectors to ingest. Were going to start off slowly and increase speed as we bring on and train more reviewers. And well submit vectors in the order of signup date so those whove been waiting the longest - over three years in some cases - get in first.
We dont have much data to go on yet, but our raw estimates put the time to review all the vectors we currently have between 4 and 7 months. Well keep you updated on progress, but if you didnt sign up in 2013, expect your portfolio to be closer to 7 months than 4.
Bringing your portfolio up to date.
We know a lot of you havent been topping up your Canva portfolio with the new files youve been creating since you first uploaded to us. Youre welcome to upload those now as all the files in your account will go through together when it gets to your turn."
62
« on: February 26, 2016, 15:38 »
This may be a year old thread, but I'm having the same problem. For two months I've been trying to have my images deleted and account closed. As of today, everything is still live and on-line. E-mails go unanswered and/or ignored. What does it take to get Veer to do what they are legally obligated to do?
65
« on: February 20, 2016, 12:30 »
Guys, when you report income, do you report only money which agencies actually send to you (payout) or all money which were credited to your account (even if you did not reach payout and they still hang in there waiting to meet the threshold)?
I can't speak to the laws in other countries, but in the U.S. you report whatever is shown on your 1099's. For payments where you did not receive a 1099 report the actual monies received.
66
« on: February 18, 2016, 21:30 »
I had the same problem last month with SS. Simply resubmitted as illustrative editorial and all went through fine and have been selling.
67
« on: February 18, 2016, 21:25 »
The IRS (in the US) requires a 1099-MISC to be issued for any amount at or above US$600. This is not a lower end threshold. Agencies may issue a 1099-MISC for any lower amount if they wish and many do (example Fotolia). It's just that they must issue one if you have received $600 or above. This law applies to US companies which is why many companies based outside the US do not issue any documentation. There are some exceptions to this, such as Canva, who do issue 1099-MISC to contributors; but, that is purely voluntary on their part. However it is still your responsibility to report all monies earned, whether or not you have received a 1099-MISC.
Correct except the law is above $600. The above is the word. You are also right about the optional for not US companies. Also right that some companies send them to everybody.
Make a note, if we get a form the IRS gets a copy of the form. No matter what amount. If you don't get one, but get audited, the IRS can get records from all the agencies if they know you worked for them.
Claim all income or risk penalty with interest which will be much worse.
I went back to the instructions issued by the IRS and it clearly states payments of $600 or more require a 1099-MISC. However, this appears to not apply for payments to us. Apparently agencies view payments to us as royalty payments. The IRS has specific instructions for royalty payments which are different from other payments. These are supposed to be reported in box 2 on the 1099-MISC form. I went back and looked at all the 1099's I've received this year and all of them show payments in box 2. The following is copied from the IRS instructions: Box 2. Royalties
Enter gross royalty payments (or similar amounts) of $10 or more. Report royalties from oil, gas, or other mineral properties before reduction for severance and other taxes that may have been withheld and paid. Do not include surface royalties. They should be reported in box 1. Do not report oil or gas payments for a working interest in box 2; report payments for working interests in box 7. Do not report timber royalties made under a pay-as-cut contract; report these timber royalties on Form 1099-S, Proceeds From Real Estate Transactions.
Use box 2 to report royalty payments from intangible property such as patents, copyrights, trade names, and trademarks. Report the gross royalties (before reduction for fees, commissions, or expenses) paid by a publisher directly to an author or literary agent, unless the agent is a corporation. The literary agent (whether or not a corporation) that receives the royalty payment on behalf of the author must report the gross amount of royalty payments to the author on Form 1099-MISC whether or not the publisher reported the payment to the agent on its Form 1099-MISC. According to this any agency located in the U.S. is supposed to issue a 1099-MISC if royalty payments amount to $10 or more. Looking back on my 2015 and prior years sales, several U.S. agencies have not been following this requirement. Never-the-less it is our obligation to report these sales or risk an audit with fines, interest, etc. if they discover you've been under reporting your income.
68
« on: February 18, 2016, 11:27 »
I sent Veer an e-mail the first of January requesting they close my account. According to their T&C's they have 30 days to do this. Everything was still live in early February so I sent them another e-mail. Still live today. They appear to be ignoring these requests.
69
« on: February 17, 2016, 21:31 »
It is supposed to apply to monies actually received. However some agencies, such as FT, issue 1099-MISC for all earnings, whether or not they have sent you all the money. That's why it is usually a good idea to request and receive earnings before the end of the year. The amount of earnings from sales for those few agencies that follow this practice, between the time you request payment and the end of the year, are usually small enough to not be of any taxable significance.
70
« on: February 17, 2016, 21:13 »
The IRS (in the US) requires a 1099-MISC to be issued for any amount at or above US$600. This is not a lower end threshold. Agencies may issue a 1099-MISC for any lower amount if they wish and many do (example Fotolia). It's just that they must issue one if you have received $600 or above. This law applies to US companies which is why many companies based outside the US do not issue any documentation. There are some exceptions to this, such as Canva, who do issue 1099-MISC to contributors; but, that is purely voluntary on their part. However it is still your responsibility to report all monies earned, whether or not you have received a 1099-MISC.
71
« on: February 13, 2016, 14:17 »
Probably making room for a tofu cafe or bowling alley.
Expanding occupancy without signs of exponential growth gives me the shivers - sometimes means you've got too much stuff or you've hired more people than you need.
Or ... you are making too much money off your contributors and you need to invest in capital improvements in order to reduce your tax liability. 
72
« on: February 13, 2016, 12:00 »
I never could connect yesterday. This morning it seems to be back to what passes for normal. Several comments on the SS forum about slow processing. I did upload an image via FTP yesterday morning and it went through fine. Edited right away and it was approved this morning. I don't know the correlation between single image FTP processing and clip processing. I'm sure there must be a difference.
73
« on: February 12, 2016, 21:11 »
I've been unable to connect with SS all afternoon. Usually times out after several minutes. Anyone else?
74
« on: February 11, 2016, 11:57 »
Same error here.
75
« on: February 10, 2016, 12:12 »
The problem with dropping the crown now is that they have to compete with the 800,000 new images being uploaded to SS every week and older images have better search placement. It must be very hard for new people joining SS now.
And yet other comments on MSG complain about SS giving preference to new contributors in order to increase their (SS) profit margins. I would also think it would be very difficult for newcomers to break into the industry ... but that doesn't seem to dissuade the conspiracy theorists. And it certainly doesn't seem to be slowing down new contributors (mostly hobbyists and the like). How long they stay ... that's another matter.
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