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Subject:
affiliate programs and taxes
Category: Business and Money > eCommerce Asked by: hellscream-ga List Price: $2.00 |
Posted:
24 Nov 2002 08:38 PST
Expires: 24 Dec 2002 08:38 PST Question ID: 113648 |
If i participate in an affiliate advertising program on my personal website, do i need to pay taxes on that as my own income or do i need to have a business tax id number for the website as an entity? |
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Subject:
Re: affiliate programs and taxes
Answered By: taxmama-ga on 24 Nov 2002 16:18 PST Rated: |
Dear Hellscream, How you report the income is up to you. If you have a business, with a federal Taxpayer ID number (TIN), you can give the merchant that ID number for their database. If not, it's OK. Just give them your Social Security Number (SSN). They will only send you a Form 1099-MISC if you earn $600 or more during the calendar year. Many of the merchants are starting to withhold payments until there is an ID number in their files. But, no, you don't need a TIN. Your Social Security number is adequate. Best wishes, Your TaxMama-ga |
hellscream-ga
rated this answer:
That is exactly the answer I asked for...Thank you. |
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Subject:
Re: affiliate programs and taxes
From: funkywizard-ga on 24 Nov 2002 08:51 PST |
from the various affiliate programs that i have used, it is implied that if my website is operated as a business, use the tax id number of the business. otherwise, list as your own income. it falls under the category of contract work. if the amount is less than $600 a year, it is not legally required to list it. |
Subject:
Re: affiliate programs and taxes
From: hellscream-ga on 29 Nov 2002 20:39 PST |
Thanks, that helps, too. |
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