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GoDaddy service : Good idea to purchase GoDaddy?? Taxes on AdSense/YPN

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Ok Im a little confused right now. I have YPN but I never reached payout for December so I wont be paid. Do I have to pay taxes for that month?..

Comments (12)

You only pay taxes for money you recieve during the year. So since youll get the money in 2006 when you reach the min it will go on your 2006 return...

Comment #1

Also, I don't think you'll receive a 1099 (tax form showing income) unless you are over $600 for the year...

Comment #2

Do they deduct the amount need for taxes or do you have to pay them yourself at tax time?..

Comment #3

I live in Canada so I don't have to pay taxes.

Or maybe because I don't have income...

Comment #4

You have to be 18 though right? So your dad or whoever made the account would have to..

Comment #5

For most people, you pay at tax time. That's the best way to go No income = no taxes The 1099 form will be in the name of the account holder...

Comment #6

You can do it either way, as long as you are consistent: http://www.nolo.com/article.cfm/obje...1/277/237/ART/..

Comment #7

Yeah, right. the fact that you live in Canada means that you pay out the arse in taxes. Especially if you are a capitalist. Socialist nations charge a lot for taxes to pay for all the social services like drug user rehab, the socialist poorman fund, quasi healthcare and whatnot. If anyone collects taxes it is the socialists.

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In the USA, you can get away with not reporting any YPN/AdSense commissions if you make less than $600.00 in AdSense/YPN commisssions in any one calendar year. It is not until you reach $600 in any one year that you get a 1099 from YPN or Google. Once you get that 1099 you have to report it al on your income taxes. I am not a lawyer or an accountant so do not believe me...

Comment #8

One more question. If I had my account terminated from AdSense earlier in 2005 will they still send me the form or what?..

Comment #9

If you were paid $600 or more, they are required to send the form to you and the IRS...

Comment #10

So if I dont make more than $600 I dont have to pay any taxes?..

Comment #11

The company paying may not declare values under a certain amount but anyone subject to US tax is required to declare all their income provided the total is over a certain amount (about $5k for most people)..

Comment #12


This question was taken from a support group/message board and re-posted here so others can learn from it.

 

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