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Are there any established affiliates from the US out there that could point me in the right direction to what to do about affiliate income in regards to federal income taxes?
For the first year I have made good amount of money and am wondering how to go about not ending up in Federal prison for tax evasion, haha.
Thanks in advance for the help!
Report it as advertising earnings..
make sure you can back up earnings and expenses with paperwork as well.
E-Commerce, advertisement, seo consultation what ever you want to call it just claim it and pay your due. Don’t mess around with Sam he will make your life hell. If you have a good accountant he can help you with may write offs and things like that.
Then there is things like buying a house or car etc, you will need proof of income and employment if you don’t have that then you will have to go back a few yrs and ammend your taxes to get the loan.
