Need Tax Help! Please Help

B-Scott · 02-14-2009, 03:03 PM

Ok i live in the USA but the affiliate company i work for is in Canada. Over the last 2 months i have earned $10,000. Im happy but also concerned about taxes. The company does not provide a 1099 form because there in Canada and they told me the taxes work different there. My question is how do i go about paying taxes? I have all my paychecks stubs. Do i simply save that and show the person doing my taxes?

I also spend $1500 a month on Google Adwords and i recently purchased a brand new desk and computer which should count as a tax right off.

chicgeek · 02-14-2009, 03:11 PM

Moved to Legal Issues.

iowadawg · 02-14-2009, 03:23 PM

You answered your own question.

If you have a tax professional doing your taxes, that person has all the answers.
Be sure and ask him.

Have all paperwork ready to go.

pgzn · 02-16-2009, 10:30 PM

The "street" answer is, if there is no documentation given to the IRS by the Canadian company, screw the IRS and keep all the money.
They don't know you earned it

The legal answer is, you don't need a 1099 form to claim income. Just write it in on your 1040 form and use schedule c to deduct your overhead.

extremeseos0007 · 07-04-2009, 12:20 AM

You do not need any tax form. Just simply involve your tax professional and let him do the business his way.

Abbey1 · 07-17-2009, 02:31 AM

If you established a partnership, money you send him is not an expense. It's a partner's distribution. It will reduce his basis. It is not taxable to him unless his distributions exceed his basis. The money you send him is not taxable to you either. You should be filing partnership tax returns to report your income and expenses.

**ScriptMan** · 07-19-2009, 08:20 PM

Quote:

Originally Posted by Abbey1

If you established a partnership, money you send him is not an expense. It's a partner's distribution. It will reduce his basis. It is not taxable to him unless his distributions exceed his basis. The money you send him is not taxable to you either. You should be filing partnership tax returns to report your income and expenses.

Maybe I missed something but what does this reply have to do with the question the OP asked or any other thread poster addressed?

danbr32 · 08-02-2009, 06:18 PM

I would urge the company to fill in a tax form for you. It is obvious that you have to pay taxes in the U.S. since this is your country of residence. From what you say, you are an important affiliate to the company, and if they do not want to lose you, they'll fill in the form.

How about getting a TIN number, get a business license and incorporate your business? It will be much easier to deduct work equipment from taxes.