Скачать или смотреть INCOME REPORTING EXPLAINED TO FREELANCERS AND INFLUENCERS

INCOME REPORTING EXPLAINED TO FREELANCERS AND INFLUENCERS

Are you a seasoned freelancer or a rising influencer?
You're collaborating, you're shooting, and you're getting paid by multiple different platforms?

Now typically when you work for a company or you're creating content for a company, that company is going to give you a W-9 to fill out. That W-9 is plain and simple because as a freelancer or an influencer, you can either set up a business entity or things are just worked out as a sole proprietorship. W-9 is really simple. It has your name or your business name, your social security number, or your EIN, and the type of business you do have when you give to the company.

When the companies that pay you, their threshold is the moment they pay you more than $600, they're going to give you a 1099 at the end of the year. What happens when you did work for a company and you did not get a 1099 because you didn't make $600?

Don't mess around, especially with the IRS.

What you're supposed to do throughout the year is account for all of your income that you're making, whether it gets reported on the 1099, whether you get it from a credit card, where you get cash sale, Zelle, Venmo, Cash App, because you're considered to be in business and you're supposed to report income from your sources.

And it doesn't matter if you got paid the 1099 or not, you're supposed to disclose it on your taxes. So to stay out of the radar of the IRS, make sure you like and follow for more.

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