Does ClickBank report earnings to the IRS?

[chillware]

Just curious, does CB submit your earnings to the IRS, or are we expected to be honest and submit that info ourselves at tax time? Also does anyone have any information on deducting PPC costs? Specifically which tax form that would go on? Thanks!

[mrosson]

Just curious, does CB submit your earnings to the IRS, or are we expected to be honest and submit that info ourselves at tax time? Also does anyone have any information on deducting PPC costs? Specifically which tax form that would go on? Thanks!

They require a Tax ID if you earn over $600

[chillware]

They require a Tax ID if you earn over $600

Yea, They've got my ESN.. Im just curious if they actualy report it or not.. basically I am just collecting as much info as i can for tax time next year..

:shock:

[gen5media]

They are required to file an informational 1099 form for each person/company they pay more than $600 to in a year. They are also required to provide you with a copy of that informational form so that you may report it in your income. Always, always make sure the number they give you on the 1099 is the EXACT number you report as income, otherwise you can trigger an audit.

[WayneB]

I believe they only send you a 1099 for sales you made as an affiliate, but not for
sales you made as a vendor. You are still responsible to report any income you
made. Even if you do not receive a 1099 for income you received, doesn't mean that
you don't have to report it. If the IRS decides to audit you and you have failed to
report income that you received, it could cause you a lot of problems.

[nexika]

I live in canada and we dont have to fill these paper... :)

[mattb348]

I live in canada and we dont have to fill these paper... :)

Damn man, does that mean you can skip the part where you have to give up 35% of your profit?

Do you even have to report your earnings? :)

Maybe I'll move to Canada. I'm only a couple hours from the border anyways :)

[promomom]

I'm in Canada too, we are supposed to report our earnings, but as to ppc costs etc, the way its going lately,I figure i'll just figure out what i made versus advertising costs and then bill the government the difference! And really, if you think about it, lmao... ppc is a lot like gambling and casino and lottery winnings are non taxable up here!

[nexika]

Canada rox for that... :D

Depends how much you are making..... you might consider moving here ... :)

[mattb348]

Canada rox for that... :D

Depends how much you are making..... you might consider moving here ... :)

No taxation on lottery? Damn, how much does land & houses cost in Canada? :)

[mrosson]

No taxation on lottery? Damn, how much does land & houses cost in Canada? :)

Probably depends on where, just like in the U.S.

The tax laws in Canada may not be as far-reaching as here, but I'll bet the overall tax rates are much higher since Canada is socialist. On the plus side, things such as healthcare are subsidized / paid for by the government. So I guess it's a trade off.

[promomom]

Probably depends on where, just like in the U.S.

The tax laws in Canada may not be as far-reaching as here, but I'll bet the overall tax rates are much higher since Canada is socialist. On the plus side, things such as healthcare are subsidized / paid for by the government. So I guess it's a trade off.
Well, actually, they take about 56% of my pay, then I pay 14% (it just went down) on everything I buy, except groceries, then we have property taxes and fair share healthcare taxes. And of course, taxes on interest and at the gas pump we pay 3 different kinds of tax, some of which are charged on top of other taxes. CIgarttetes run $8 a pack, thats what thye call the "sin tax". They probably figure if they don't charge taxes on wins, they'll still end up with at least 14% of it..so there it is..lol.. And now you why i'm online!

[KevinJB]

Wow, that stinks. :(

[cheshire]

Well, actually, they take about 56% of my pay, then I pay 14% (it just went down) on everything I buy, except groceries, then we have property taxes and fair share healthcare taxes. And of course, taxes on interest and at the gas pump we pay 3 different kinds of tax, some of which are charged on top of other taxes. CIgarttetes run $8 a pack, thats what thye call the "sin tax". They probably figure if they don't charge taxes on wins, they'll still end up with at least 14% of it..so there it is..lol.. And now you why i'm online!

When its all done you actually get to keep 0.00000000001% of your earnings! Helluva deal!

[Morndan]

Computer acting up...I need an antivirus of some kind. NOT willing to pay megabux for it. Anyone know of a DIRT CHEAP/ FREE way to download one?

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[phey]

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[topwzp]

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[Alan Mater]

You'd be smart to report your earnings even if it's under $600 and you don't receive a 1099 form. Tax laws vary by country, so make sure you know what the laws are in your country.

As far as deducting PPC costs, etc., you can do that. What I do is subtract all of my expenses from my total income for the year. The remaining balance is what I report to the IRS. This is completely legal because technically you're running a business, and as such, you're allowed to write-off business expenses.

If you're not sure what forms you need, see an accountant. I use one to file my taxes every year. It's a total time-saver and definitely worth the $50. My taxes get done and filed within 10 minutes.