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W2 for clickbank

Discussion in 'Clickbank' started by Odinsupremacy, Jan 15, 2016.

  1. Odinsupremacy

    Odinsupremacy Regular Member

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    I was just wondering if I have to turn in clickbank for taxes. I am also currently on unemployment and it could screw that up for me.

    Odin
     
  2. Bestindabiz

    Bestindabiz Regular Member

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    I would go ahead and file the clickbank wages because unemployment won't last long anyway but you don't wanna screw up your relationship with clickbank.
     
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  3. zebrahat

    zebrahat Elite Member

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    Clickbank and affiliate earnings aren't wages, but commissions, so the relevant form is 1099 if you are subject to US taxes. Some circumvent the problem by simply listing a foreign address (maildrop, or address of an offshore JV partner) and having the Clickbank checks mailed to that address. No declared US address, no tax issues.
     
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  4. Odinsupremacy

    Odinsupremacy Regular Member

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    Hmm ok thanks guys.
     
  5. Odinsupremacy

    Odinsupremacy Regular Member

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    What is mail drop exactly?
     
  6. zebrahat

    zebrahat Elite Member

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    A mail drop is a private post office box a business sets up to receive and forward mail. Unlike a government PO box the maildrop provides you with a street address, which allows for the receipt of UPS or FedEx deliveries.
     
  7. rjd1265

    rjd1265 Regular Member

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    In the Us, yes you will get a 1099 reported as Misc Income.

    Each state varies but in Wisconsin I have to pay federal, state tax on anything over $600 and if this is your full time job or accounts for a certain percent of your income you may have to pay self employment tax too.

    Make sure to deduct your cost of doing business as to offset some of your income.

    Example:
    Domain purchases
    landing page software
    hosting
    any fiverr gigs, videos and such
    Solo ads, Adwords or any other paid advertising you have spent

    this is just a quick overlook but there are many other things you can deduct.