1099 tax forms

My first year of Clickbank just ended. I know Adsense sends 1099 forms for taxes, and I assume Clickbank does too.

Anyone get theirs yet? Any past experience when they come?

Thanks

 

what's that? not really sure. though all i'm getting for the last 3months are only checks.

 

Businesses have until Jan 31 to mail them. If your earnings are less than $600, they may or may not send one.

 

Haven't heard about that. I think Clickbank doesn't do anything like that.

 

this would be for the Usa only right?

 

I have never received one - Australia

 

It is USA tax law. I don't know if they are required to mail out of US people one or not.

The 1099 serves 2 purposes. It creates a record of the payment for both the payor and the recipient.

 

Lucky thing for Australians

In the US, you can kiss 30% of your yearly earnings goodbye as the Govt loves to dip it's hands in.

Last year I had to pay more than $8,000

 

I still delare my earnings though.. Get some negative gearing going
I claim petrol money from when I have to drive to the bank to deposit cheques lol

 

anyone here who could explain this with more details. i'm planning to open up a new account under the name of sister there in the US, since it took more than a month of clearing a check here in NZ. i presume it's way faster there.

this is the Tax ID# ? right? i mean, in this form you can find or here you can have your tax id.
my sister has been working there for almost 2years now, does this mean that she must already have this?

thanks

 

USA takes income tax on all monies earned.

When you open the account, clickbank will ask for her social security #. She is then liable to pay taxes on what you earn.

Failure to comply results is major penalties and even jail time.

 

1099 refers to the name/number of the form that is mailed out each year. You must provide a TIN (taxpayer identification number) to the payor. For residents that is either their social security number or their business identification number.

You may want to investigate and completely understand the implications of using your sister's identity. My limited understanding of US tax law as it relates to non-resident aliens is that they pay US income tax at the regular rates and are not required to pay into social security. Residents pay both.

At any rate, you are creating a legal liability for your sister if you use her identity. She will be the one who owes the money. The government is not forgiving. If she has a nice income, the additional income could cause her to pay more on the money she has earned since our taxes are "progressive". The more you earn the higher the % you pay.

 

So when are these forms usually sent out?

 

I guess CB does not handle these forms. The other affiliate networks like CJ do send these sort of forms.

 

OMG! i thought i can just address the account to her, then she'll in-cash the check for me, then send it to me via bank-to-bank. now you're saying that later she'll have to pay the tax for my CB? wow! maybe i'll just change the account holder on this.

Thanks floodrod and Colbyt for the reply.