I am currently working with 10+ affliate networks all make a decent amount for paying tax. But i don't get how i will be filing my tax papers. Do i file a schedule 1099 at the end of the year? What do i do? Help please thanks edit: i live in US
I suggest you get an accountant to handle all that stuff for you. It's much easier, especially with that many affiliates. I believe it cost me about $200 for everything, I'm not sure if that's cheap or not but I'm happy to not have to worry about that sort of stuff.
If you earn under $600 from a particular company, they usually don't send you a 1099. I'm not sure if you're still required to file for earnings less than that. If you make over $600 they'll send you a 1099 and you claim it as income and it will be taxed at your regular rate. If you're making a decent amount of income it will be in your best interest to start a business so you can utilize deductions. I usually have deductions totaling 25% of my internet income.
US and yea but i don't know where i can find one around my area and also i don't make much lol so $200 would be something big for me...
If you really can't find an accountant, then just use the home & business version of Turbotax when it comes tax time: http://turbotax.intuit.com/personal-taxes/online/home-and-business.jsp It asks you tax questions as simplified as possible and you answer them and enter numbers when necessary.
Yea get turbotax, it's what I use Filing taxes can be a true pain in the ass. If you don't know what your doing, if you have a legal guardian, ask them to help you out, or hire an accountant.
Oh yeah, I remember now. You make over $3,000 on each different affiliate network your part of with your blackhat fraud and you won't even shell out $200 for an accountant.