7 replies
This is a small question I've had for a while, but keep forgetting to ask.

At my current job, they take a small percentage out of my check every time I'm paid, so I get a return when it's time to do my taxes.

Does that still happen if I get a check from clickbank? I don't want to end up paying taxes instead of receiving a return. It's more comfortable this way.
#question #taxes
  • Profile picture of the author jaggyjay
    To my knowledge, clickbank doesn't withhold taxes. On a side note, you may want to speak to a professional about how to properly set up your business so you can handle any tax liabilities.

    - Jay
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  • Profile picture of the author Marty S
    Originally Posted by havefunandlive View Post

    I don't want to end up paying taxes instead of receiving a return. It's more comfortable this way.
    This sounds like a person who WANTS to work for someone for the remainder of your career.

    You are in business for yourself once you start marketing online sir. That means YOU are responsible for paying your taxes, not clickbank or any other affiliate. This involves some rather basic money management, but if your income is significant, then you may also have to be paying advance taxes during the year - in that case consult your accountant who can plainly tell you what you need to reserve for taxes.
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  • Profile picture of the author Jillian Slack
    Originally Posted by havefunandlive View Post

    This is a small question I've had for a while, but keep forgetting to ask.

    At my current job, they take a small percentage out of my check every time I'm paid, so I get a return when it's time to do my taxes.

    Does that still happen if I get a check from clickbank? I don't want to end up paying taxes instead of receiving a return. It's more comfortable this way.

    Getting a refund is not cool. If you're getting a refund, it means the government has tied up your money all year. You could have had that money in your own pocket. You should consult an accountant to see about changing your withholding.

    Clickbank is not your employer, so it is not their responsibility to hold out money for your taxes.
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  • Profile picture of the author KPKP
    The affiliate networks are not going to withhold your income taxes the way an employer does. As a business, whether a sole proprietor, LLC, corporation or partnership, you are responsible for withholding and paying your taxes. If it's a significant amount of income you may be responsible for quarterly estimated payments so I would be sure to consult with a tax professional to ensure you don't have to pay interest and penalties!
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  • Profile picture of the author Floyd Fisher
    Originally Posted by havefunandlive View Post

    This is a small question I've had for a while, but keep forgetting to ask.

    At my current job, they take a small percentage out of my check every time I'm paid, so I get a return when it's time to do my taxes.

    Does that still happen if I get a check from clickbank? I don't want to end up paying taxes instead of receiving a return. It's more comfortable this way.
    No. It's up to you to pay the taxes.
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  • Profile picture of the author activetrader
    No, you are self employed; you are responsible for your own taxes. If you prefer to get a return, you should file a DBA and get an EIN and start sending quarterly estimates to the IRS. If you don't know how to do that, hire an accountant
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