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How are taxes done as an adult affiliate marketer. Did you start own business lisense? And LLC? Or 1099? contractor?
First of all, I am not an expert in the law of the United States and I am not even living there. I can do a research on this for you, but as I said, I do not know it myself.
You might some information that you will find helpful here: founderscpa.com/taxes-affiliate-marketers-work/
You can wait so some adult affiliates will reply, but I can give you more advice as like I said, I am not familiar with this at all.
Well unless you are making a shit ton of money you just file a 1099. It is a “self employment tax” and is roughly 15.3 percent (should be putting away about 15.3 percent from his earnings) and it is considered a “sole proprietorship”. But TBH I have been doing this for many years and have never paid taxes and and never heard a word from the IRS lol but I don’t recommend you doing this. I don’t think a lot of these companies running these offers actually file the 1099 with IRS.
Ha ha oh wow. unfortunately I am not brave enough to get away from them. Thank you for the info I will look more in it.
Basically whoever you are selling for will give you 1099 unless it is your own product then it is up to you to report your sales, then you just deduct whatever business cost, marketing, web hosting etc, contract labor.
If you aren’t making $60K a year, be a DBA with a 1099.
If you are making more, might do an LLC.Set aside money. The tax man will come. Get into a habit of leaving 20% of your pay in whatever payment account you are using. I did an LLC so I could get Paxum. Then every quarter I send myself that money and pay it to the tax man. Don’t forget state. This site is decent at helping you guestimate what you need to pay:
smartasset.com/taxes/income-taxes
