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Tax for affiliate income?

deepak.nair.v
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Joined: 30 Aug 12
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Tax for affiliate income?

Hello,

Can any one please explain or point me to information on taxes on affiliate income for affiliate marketers living in US? Do marketers in US have to pay tax for any income earned through affiliate marketing or is there something like a threshold income above which taxes are applicable? Any information shared will be appreciated. Thanks in advance,

Best Wishes,
Deepak.
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mark schaaf
Posts: 438
Joined: 04 Oct 10
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unless your only income is coming from affiliate marketing and you make less then what the lowest amount is to file they yes you have to pay income tax and social security tax and disability tax. you can start here http://www.irs.gov/Businesses/Small-Bus ... e-Taxes%29 this is a us government site that kind of explains what your looking for.
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Mark
 
deepak.nair.v
Posts: 20
Joined: 30 Aug 12
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mark schaaf wrote:unless your only income is coming from affiliate marketing and you make less then what the lowest amount is to file they yes you have to pay income tax and social security tax and disability tax. you can start here http://www.irs.gov/Businesses/Small-Bus ... e-Taxes%29 this is a us government site that kind of explains what your looking for.


Thanks for the information and the link, Mark. The information in your link mentions only about social security and medicare taxes. From what I have read, there could be other taxes too (such as state tax). Let me ask a simple question, For US residents, what percentage of the affiliate income has to be paid as tax? (assuming that affiliate income is not the only source of income). I know it varies from state to state. I am just looking for an approximate answer. Do you or any one else in this forum have any information about it? Thanks in advance.
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nessa900
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for the last couple of years i been getting tax forms from most of the products i sold.. so i say report everything because those the sold to you will report it.
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Dale Dupree
http://seoharrisburg.com
 
trawlers44
Posts: 34
Joined: 06 Dec 11
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Of course you have to pay taxes your in the USA!

What you have to do is set up a LLC !
That way you get a tax ID also known as a EIN employer identification number !
Also like the guy above me said you only have to pay if you make I think it's over $500 that is combined!
And if you are not making that a week instead of a year, I would look for another line of work.
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deepak.nair.v
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Thanks everyone for your replies. I still did not get answer to my question, approximately what percentage of the affiliate income has to be paid as tax in US?
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cecille.l
Posts: 7016
Joined: 25 Feb 11
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Hi Deepak,

I'm sorry I'm unable to answer your inquiry at this time. The thing is the tax varies in each state, I believe. I will check with a senior staff and let you know.

I appreciate your patience. All the best!
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Cecille


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gradyp
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Actually, I was thinking that you'd probably get a better answer to this question by going to a local CPA. They could probably let you know what you need to account for where you are at.
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deepak.nair.v
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Thanks Cecille and Gradyp. Cecille, I look forward to more details. I just need an approximate figure.

@Gradyp - it is a bit complicated :-). I do not live in US but I have many close friends in US. I found a very lucrative affiliate program that allows only US residents to join in. I am trying to make a way around it by getting one of my friends living in US register for this affiliate program and share profits with him. Thanks.
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This topic was started on Apr 13, 2013 and has been closed due to inactivity. If you want to discuss this topic further, please create a new forum topic.