CPA and Taxes?

Huie · 11-29-2011, 08:47 PM

Im just wondering do i have to pay taxes or stuff if im with a CPA network and making money?

Jarodd W · 11-29-2011, 10:23 PM

Well...I do have degrees in Finance and Marketing. But, by no means am I a tax expert nor should you listen/take my advice. But, you do have to pay taxes on the income you create in CPA. That is largely why they ask you to provide you TIN/SSN. If you start to make some decent money, you're goin to want to make sure Uncle Sam get's his share. Otherwise, in due time you will undoubtedly be getting some angry letters in the mail. Without going into great detail, I hope this answers your question.

jaggyjay · 11-29-2011, 10:26 PM

We all have to pay taxes one way or another... you know... "give to Caesar what belongs to Caesar"

You may just want to speak to a professional accountant or tax preparer. Find out how to best structure your business for maximum tax benefits. Many marketers overlook this.

Need inspiration? Consider that some of America's most wealthiest people pay less than 10% in taxes. Yes! That's likely less than you an me!

Best!

bobhenry · 11-30-2011, 05:48 AM

It depends on country you live and their tax and finance policies, but i do believe we have to pay tax on every earning we made ...

pacelattin · 11-30-2011, 08:42 AM

If you are US based you must report all self-employed income, but dont have to pay taxes unless your total income (of all sources) is over a certain amount. Not sure what it is for $12,000.

You will file no matter what, if you only made a little money, use HR block to determine. All affiliate networks report the income you made, so if you don't the IRS will send oyu a letter than you didnt pay.

Kenster · 11-30-2011, 10:18 AM

You need to pay taxes on all income. Whether the networks report it or not, if you aren't reporting your income, it's fraud. Whether they catch you or not is a different story, but technically you need to report everything.

So whether they take your EIN or TID or whatever, it's still your responsibility to report.

webdave · 11-30-2011, 02:41 PM

Usually you will get a 1099 form with the income you made from the cpa network. The network will also report this income to the irs

kindsvater · 11-30-2011, 06:39 PM

If you're making money the IRS wants a cut. How the money was made does not matter for creating taxable income. But it could make a difference for what you can deduct.

.

ChrisBa · 11-30-2011, 08:03 PM

Quote:

Originally Posted by Huie

Im just wondering do i have to pay taxes or stuff if im with a CPA network and making money?

Yes, affiliate marketing is like any other income - you do need to pay tax on yor earnings

sitecontact · 12-01-2011, 01:30 AM

Wow, pay your taxes dude! Everything is traceble...

HairyPoppins · 12-01-2011, 09:18 PM

This isn't a cash buisness. There's a paper trail and you're getting an income. The gov't wants a piece of the pie. It's pointless to try to fraud them. Eventually they will get you.

Bwick · 12-02-2011, 04:44 PM

If it's a substantiated amount I would just advise to pay the taxes, easier then having them coming after you and fining you or such.

pacelattin · 12-02-2011, 06:27 PM

No, you do not have to pay taxes on all income. You have to FILE taxes. Big difference

advertisethis · 12-03-2011, 08:48 AM

Obviously, we have to pay taxes, but the big issue, as it relates to net income, is that to be able to write off expenses related to paid traffic, software, and hosting, we need to have a sole propietorship or LLC in place, no?

pacelattin · 12-03-2011, 09:32 AM

Doing a corporation is easy.

Quote:

Originally Posted by advertisethis

Obviously, we have to pay taxes, but the big issue, as it relates to net income, is that to be able to write off expenses related to paid traffic, software, and hosting, we need to have a sole propietorship or LLC in place, no?

11-29-2011, 08:47 PM	#1
Huie Active Warrior War Room Member Join Date: Oct 2011 Posts: 64 Thanks: 0 Thanked 1 Time in 1 Post	CPA and Taxes? Im just wondering do i have to pay taxes or stuff if im with a CPA network and making money?

11-29-2011, 10:23 PM	#2
Jarodd W Warrior Member War Room Member Join Date: Oct 2010 Location: Milwaukee, WI Posts: 28 Thanks: 0 Thanked 5 Times in 5 Posts	Re: CPA and Taxes? Well...I do have degrees in Finance and Marketing. But, by no means am I a tax expert nor should you listen/take my advice. But, you do have to pay taxes on the income you create in CPA. That is largely why they ask you to provide you TIN/SSN. If you start to make some decent money, you're goin to want to make sure Uncle Sam get's his share. Otherwise, in due time you will undoubtedly be getting some angry letters in the mail. Without going into great detail, I hope this answers your question.

11-29-2011, 10:26 PM	#3
jaggyjay Enlightened Warrior War Room Member Join Date: Nov 2007 Location: New York, USA. Posts: 612 Thanks: 22 Thanked 127 Times in 96 Posts	Re: CPA and Taxes? We all have to pay taxes one way or another... you know... "give to Caesar what belongs to Caesar" You may just want to speak to a professional accountant or tax preparer. Find out how to best structure your business for maximum tax benefits. Many marketers overlook this. Need inspiration? Consider that some of America's most wealthiest people pay less than 10% in taxes. Yes! That's likely less than you an me! Best!
	*Over 200 Sold!* WSOScout's Top 10 WSOs of the Week! [Incentivized CPA Secrets 2.0] - Step-by-Step Tactics to Line Your Pockets With Cash Now!

11-30-2011, 05:48 AM	#4
bobhenry Making Millions For You Join Date: Feb 2010 Location: Nowhere Posts: 177 Thanks: 0 Thanked 7 Times in 7 Posts	Re: CPA and Taxes? It depends on country you live and their tax and finance policies, but i do believe we have to pay tax on every earning we made ...
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11-30-2011, 08:42 AM	#5
pacelattin is Pace Lattin War Room Member Join Date: Oct 2011 Posts: 688 Thanks: 13 Thanked 92 Times in 78 Posts Social Networking Contact Info	Re: CPA and Taxes? If you are US based you must report all self-employed income, but dont have to pay taxes unless your total income (of all sources) is over a certain amount. Not sure what it is for $12,000. You will file no matter what, if you only made a little money, use HR block to determine. All affiliate networks report the income you made, so if you don't the IRS will send oyu a letter than you didnt pay.
	Pace Lattin \| Performance Marketing Insider \| Pace Lattin \| Read Real CPA Network Reviews Get $100 in Free Twitter Ads Here

11-30-2011, 10:18 AM	#6
Kenster Krazy Kenster War Room Member Join Date: Jan 2009 Posts: 5,111 Blog Entries: 11 Thanks: 672 Thanked 2,009 Times in 885 Posts	Re: CPA and Taxes? You need to pay taxes on all income. Whether the networks report it or not, if you aren't reporting your income, it's fraud. Whether they catch you or not is a different story, but technically you need to report everything. So whether they take your EIN or TID or whatever, it's still your responsibility to report.
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11-30-2011, 02:41 PM	#7
webdave Active Warrior Join Date: Jun 2009 Location: Pennsylvania Posts: 61 Thanks: 2 Thanked 6 Times in 6 Posts	Re: CPA and Taxes? Usually you will get a 1099 form with the income you made from the cpa network. The network will also report this income to the irs

11-30-2011, 06:39 PM	#8
kindsvater Senior Warrior Attorney War Room Member Join Date: Jul 2004 Location: Jedi Temple Posts: 3,125 Blog Entries: 39 Thanks: 76 Thanked 2,617 Times in 757 Posts	Re: CPA and Taxes? If you're making money the IRS wants a cut. How the money was made does not matter for creating taxable income. But it could make a difference for what you can deduct. .
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12-01-2011, 01:30 AM	#10
sitecontact Businesser Join Date: Jun 2011 Location: Sofia Posts: 40 Thanks: 0 Thanked 1 Time in 1 Post	Re: CPA and Taxes? Wow, pay your taxes dude! Everything is traceble...
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12-01-2011, 09:18 PM	#11
HairyPoppins HyperActive Warrior War Room Member Join Date: Nov 2011 Location: Newhall, California Posts: 351 Thanks: 4 Thanked 42 Times in 38 Posts	Re: CPA and Taxes? This isn't a cash buisness. There's a paper trail and you're getting an income. The gov't wants a piece of the pie. It's pointless to try to fraud them. Eventually they will get you.

12-02-2011, 04:44 PM	#12
Bwick Active Warrior Join Date: Sep 2011 Posts: 57 Thanks: 1 Thanked 2 Times in 2 Posts	Re: CPA and Taxes? If it's a substantiated amount I would just advise to pay the taxes, easier then having them coming after you and fining you or such.

12-02-2011, 06:27 PM	#13
pacelattin is Pace Lattin War Room Member Join Date: Oct 2011 Posts: 688 Thanks: 13 Thanked 92 Times in 78 Posts Social Networking Contact Info	Re: CPA and Taxes? No, you do not have to pay taxes on all income. You have to FILE taxes. Big difference
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12-03-2011, 08:48 AM	#14
advertisethis Active Warrior Join Date: Feb 2011 Posts: 71 Thanks: 9 Thanked 6 Times in 6 Posts	Re: CPA and Taxes? Obviously, we have to pay taxes, but the big issue, as it relates to net income, is that to be able to write off expenses related to paid traffic, software, and hosting, we need to have a sole propietorship or LLC in place, no?