Monday, April 13, 2009

If I receieve revenue from being an affiliate for online stores, how do I do tax claims?

I am going to have a personal website and have links to certain businesses that I can receive commission from if people filter in through my site. I don't anticipate making very much money at all, but I'm curious how I claim this information for tax purposes.


File Schedule C with your Form 1040 tax return to report the business income and expenses. If the net profit if more than $400, attach Schedule SE to calculate the Self-Employment tax.

It is self employed income.

You are self employed or independent contractor. You will report your income and expenses on schedule C or C-EZ (Form 1040). This income is subject to SE tax at 15.3%. Read about self employed (or independent contractor) tax filing and payment of estimated taxes: http://taxipay.blogspot.com/2008/04/tax-filing-by-self-employed-sole.html

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