YPN and Taxes

How do you set up your account so that taxes will be taken out of your check?

 

It is deducted automatically

 

I have never had taxes taken out. I know that you can choose to. I tried to find it today but all tax info is locked and I didn't see a place that had that option.

 

same here..i think we still have to pay tax before march of our income

 

if your income is taxable then taxes will apply and will deducted automatically

 

thats not true. all income is taxable (with certain exemptions). you will only have taxes taken out automatically if you request ypn to do so or if you are subject to back withholding (where the irs demands that taxes be taken out). i have not had any taxes removed from any of my ypn payments. of course, i am still liable to pay my taxes according to my tax codes at the appropriate times.

 

exactly...I make more than enough to have taxes taken out. Unless you are making less than 100$/month, they can take tax out, although it has never been taken out of mine. Less than 100 and A) you don't get paid and B) its just not worth it.

 

If you make less than $100/month you won't get paid every month.

 

yea.....well, have to pay tax at end of the year now...which will be a lot

 

Unless you are subject to backup withholding YPN is not required to deduct taxes from your revenue. You can request for them to hold on for it but thats really stupid when you think about it. Just get the money take out the portion thats for taxes and put it in a savings account. Why let Yahoo earn interest on your money when you can make interest on your money?

 

i may be wrong, but im pretty sure that when a company "takes" taxes out, they do not hold it for you collecting interest. im pretty sure they send it to the irs on your behalf. again, i could be wrong. but i do agree, unless you are totally irresponsible with taxes, its better to take your money now and figure out what you owe the irs later.

jmo

 

This'll be the first year I'll need to sit down with an accountant because of the revenue my web sites have generated. That's a good thing and a bad thing.

Remember to keep track of your expenses: hosting, advertising, software purchases, etc. because you may be able to count them as business expenses...

 

try www.TaxForum.us forum strictly dedicated to United states taxation. The administration of the forum are people doing taxes for living they will be able to answer all your questions

P.S.: The design of the site still looks junk, but I think it will change with time