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  #1  
Old 10-13-2007, 07:42 AM
Movienet Movienet is offline
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Post Adsense Tax Information

Well i'm new to adsense and i think my first 4 days was a big success

Well believe it or not (its up to you), i made $60.00 in the starting 4 days with Adsense.

I'm about to submit my tax information because its almost the 15th but i see that you have to pay taxes with Adsense.

Is this true? do i have to pay taxes with adsense and how does the w9 work?

I'm new to Adsense and web advertising. So my question is

Do you have to pay taxes from adsense? and how do they take this money out of you?
 
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  #2  
Old 10-14-2007, 03:18 AM
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CountryBoy CountryBoy is offline
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No, it's not true. Google is not the IRS (or your national equivalent) - they can not deduct tax at source. The reason they need to know your SSN is so that they can inform the IRS if you earn a lot on AdSense. If you earn enough, then of course you'll have to pay tax on it but it is your responsibility to do so - not Google's.
 
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  #3  
Old 10-14-2007, 07:43 AM
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How much do you mean by enough?

Thanks anyways
 
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  #4  
Old 10-14-2007, 08:38 AM
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It depends how much you earn outside of AdSense too (at least here in the UK). People are usually taxed on their total income and there is usually a certain amount you are allowed to earn (in total) before you have to pay any tax.

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Originally Posted by Movienet View Post
How much do you mean by enough?

Thanks anyways
 
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  #5  
Old 10-14-2007, 11:38 AM
Movienet Movienet is offline
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Well i dont earn anything except Adsense (i dont have a job) and i live in the US right now.

If i get 1 check for $100. Will i get taxed on that? ??
 
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  #6  
Old 10-14-2007, 11:51 AM
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Quote:
Originally Posted by Movienet View Post
Well i dont earn anything except Adsense (i dont have a job) and i live in the US right now.

If i get 1 check for $100. Will i get taxed on that? ??
I doubt it. Have a look at the IRS website and see what your personal allowance is. Here in the UK you're allowed to earn about 5000 ($10000) before paying any tax on your income.
 
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  #7  
Old 10-14-2007, 12:02 PM
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Thanks alot for your information CountryBoy. You really helped me a lot. Thanks again.

1 last question. Can you give me the link to the IRS website so i can see how much before i get taxed?
 
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  #8  
Old 10-14-2007, 12:04 PM
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http://www.irs.gov/
Google is your friend
 
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  #9  
Old 10-16-2007, 12:18 PM
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Quote:
Originally Posted by CountryBoy View Post
I doubt it. Have a look at the IRS website and see what your personal allowance is. Here in the UK you're allowed to earn about 5000 ($10000) before paying any tax on your income.
All income is taxed in the US or rather needs to be accounted for. (reported to the government) But, we do have brackets on how much is taxed.
 
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  #10  
Old 10-23-2007, 09:06 AM
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Unless its changed.

Well unless it's changed, which it probably has, I believe as an independent you are allowed $ 8,000 but do not quote me on that, I would check it out with your local IRS office.
 
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  #11  
Old 10-23-2007, 01:37 PM
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Is it $8000 really? How do you pay the taxes?
 
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  #12  
Old 10-23-2007, 01:53 PM
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Quote:
Originally Posted by Movienet View Post
Is it $8000 really? How do you pay the taxes?
A question like this has come up in another forum so I opened my Taxcut and plugged in the numbers for a single taxpayer with no income other than $8000 in NET Adsense earnings. Net means after the reduction for allowed business expense.

You would owe 0 dollars in taxes and $1130 in fica. This assumes you will not be claimed on your parents or anyone elses return. If you have never filed you can get away with paying a lump sum before April 15. It is far better to pay in estimated taxes on a quarterly basis.

EDIT: Just an additional comment. You will owe 15.3% of all net earnings for fica once you earn over $400 in any given year.
 
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  #13  
Old 10-23-2007, 01:57 PM
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Just because you may not owe taxes does not mean that you are NOT required to claim them. Something that people may not be considering is that your normal job pay check takes out taxes everytime, however Adsense obviously does not. This means that you will still owe SOME taxes, depending on your deductions and other claims.
 
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  #14  
Old 10-23-2007, 03:46 PM
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CLDNAILS - You are not required to file unless you earn over X amount. I think they lowered it to $650 or something crazy, not 100% sure.

If you earn enough Google will send you a W9 that you have to then use to file your taxes and pay if you owe.

What you owe depends on your expenses.

I'm not a CPA so this is just what i've heard
-Todd
 
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  #15  
Old 10-23-2007, 04:06 PM
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Quote:
Originally Posted by ToddW View Post
CLDNAILS - You are not required to file unless you earn over X amount. I think they lowered it to $650 or something crazy, not 100% sure.

If you earn enough Google will send you a W9 that you have to then use to file your taxes and pay if you owe.

What you owe depends on your expenses.

I'm not a CPA so this is just what i've heard
-Todd
If you have self-employement income over $400 you are required to file and pay the fica.

I am not an accountant but I have been dealing with this crap for about 40 years.
 
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  #16  
Old 10-23-2007, 04:07 PM
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Quote:
Originally Posted by ToddW View Post
CLDNAILS - You are not required to file unless you earn over X amount. I think they lowered it to $650 or something crazy, not 100% sure.

If you earn enough Google will send you a W9 that you have to then use to file your taxes and pay if you owe.

What you owe depends on your expenses.

I'm not a CPA so this is just what i've heard
-Todd
Thanks for the information. But say i do make over $650 a year, then how will i have to pay my taxes?
 
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  #17  
Old 10-23-2007, 04:08 PM
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Quote:
Originally Posted by ScriptMan View Post
If you have self-employement income over $400 you are required to file and pay the fica.

I am not an accountant but I have been dealing with this crap for about 40 years.
How do you pay the fica? i'm so confused. I'm only 19 btw
 
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  #18  
Old 10-23-2007, 05:21 PM
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Quote:
Originally Posted by Movienet View Post
How do you pay the fica? i'm so confused. I'm only 19 btw
You will have to file a tax return at the end of the year and before April 15, 2008. It will need to include a schedule C for the business income less expenses and a schedule SE for the fica. If this is your first ever return that is all you have to be concerned about. There are no penalities or intrest unless yo underpay based on the prior yers earnings from all sources.

Before you panic and run to an accountant, spend $30 and buy Taxcut or turbotax. If you are smart enough to answer questions, you can fill out, print and file your own tax return.

I will still be here when the time comes closer and you can always PM me.

BTW, I am not selling anything here.
 
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  #19  
Old 10-23-2007, 07:08 PM
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Quote:
Originally Posted by ToddW View Post
CLDNAILS - You are not required to file unless you earn over X amount. I think they lowered it to $650 or something crazy, not 100% sure.

If you earn enough Google will send you a W9 that you have to then use to file your taxes and pay if you owe.

What you owe depends on your expenses.

I'm not a CPA so this is just what i've heard
-Todd
If I remember correctly it was like up to $600 subcontracted labor you do not, however employers are required...if you are not subcontracted to report. This is what I was referring to, of course, I would hope if we are having this conversation you are making at least $600 per year. lol
 
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  #20  
Old 10-24-2007, 12:36 PM
Movienet Movienet is offline
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Well i made $200 this month so i might make over $600.

Btw do you have to use citibank to cash in the checks?
 
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