Thread: question about affiliates and taxes

If I start to earn from affiliates do I pay taxes on that? If so what do I have to do? I'm new to affiliates. Do I need a business license to use them? If not would it be better to have one? Can anyone help me out?

I would assume that if you make enough, they will send you a 1099, other wise I dont see why worry.

right now I am making money but none of them are close to payout. so the affiliate should be sending me forms then?

Originally Posted by wckd

right now I am making money but none of them are close to payout. so the affiliate should be sending me forms then?

If you make over $500? I believe it is 'it used to be I think' they will report the income and you'll get forms.

You should of course report all income you make with your business.

Most affiliates either grab your 1099 information at the start, or they will let you know what they need if you hit the threshold they set.

Depending on earnings, and your filing status, just keep it as personal.

Maybe I do it wrong but I add up everything I made for the year, which includes affiliate revenue, could be different in Canada, but we don't require special forms or anything that I know of, not sure about the US.

affiliates i have signed up for have asked for my social for tax reasons. but say i have 15 different affiliates i am earning from. do they all get filed seperate?

For US purposes, you lump them all together as income.
Unless you get a 1099 from one or more, then you enter those separately on the tax forms.

My step father is going to get his taxes done on friday. Maybe it will be in my interest to go with him.

most aff send you a 1099 at the end of the year