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Pete
Guest
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Posted: Thu Jan 08, 2004 9:09 pm
Post subject: Tax Issues
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I am still building my site and swapping links, so I'm thinking ahead a bit here, but I have a little question about affiliate commissions.
Are they taxed by the country in which I am located? Is there any tax taken before companies like CJ make the payouts?
Thanks
Pete |
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Debs
Joined:
16 Aug 2003
Posts:
4296
Location:
NY
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Posted: Thu Jan 08, 2004 9:27 pm
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Pete, there are a few threads on here about taxes and proper tax forms required for most major networks. Do a search and you may find more specific information.
In most cases, I've heard that if the proper tax forms are completed, no withholding is taken on earnings. However, whether you are required to file tax returns in your country, or in the US (the location of most affiliate networks) is another matter and should be discussed with a tax specialist in your country.
Debs
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AllanGardyne
Site Admin
Joined:
02 Jul 2003
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6326
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by the beach, Australia
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Posted: Fri Jan 09, 2004 10:31 pm
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No affiliate merchant has ever withheld taxes on my behalf.
As a general rule, wherever you live in the world, commissions you earn are part of your income and you should declare them. So keep a good record of all your expenses that were involved in earning than income, and declare them too.
I use QuickBooks software to keep my accounts straight. For the first few years, I just had a simple book with expenses on the left page and income on the right. That worked.
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Allan Gardyne
AssociatePrograms.com - You're here. Explore it! |
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