3 {{ upvoteCount | shortNum }}
3 {{ upvoteCount | shortNum }}

Affiliate Marketing & Tax

by vuedoolor
2 replies
I want to start using other affiliate networks besides Clickbank. But most of these affiliate networks require your Social security number so I'm just wondering what they need the social security number for and if I would have to pay a big chunk of $$ at the end of the year or not when it comes to doing my income taxes..?

Anyone know how this whole self employment and income tax thing works or have any info?
#affiliate #income tax #marketing #tax #taxes
  • Profile picture of the author gtal
    I am a certified tax preparer and have owned my own financial services business for over 20 years, so I will give you a brief explanation.

    Clickbank pays you as a contractor. They have an obligation to report any amount they pay you in a year that is over $600 to the IRS. They report using not only your name, but also your Taxpayer Identification Number, which is either your EIN or your Social Security #. This is a unique number to you which the IRS uses since there are so many duplicates of names.

    They are actually required to collect this information from you in order to "hire" you.
    Hope this helps.
    Signature
    Gale Talmadge

    www.profitshareonline.com
    Useful Profit Boosting Information
    {{ DiscussionBoard.errors[1830399].message }}
  • Profile picture of the author bannor32
    If you are earning lots of money through affiliate marketing then yes, you can expect a big tax bill at the end of the year. You are required to report every cent of your earnings, and since you aren't being taxed at the source when you make that money you are going to have to pay the tax owing when you file.

    If you are making good money through affiliate marketing then you should start socking away a good chunk of it so you are prepared for that tax bill when it comes.
    {{ DiscussionBoard.errors[1830568].message }}

Trending Topics