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Johnny Cash helps urban education.

Do bloggers pay taxes?

by Johnny Cash on April 22, 2011

 

Must Bloggers pay taxes on their profits?

I have heard that many people will be looking to cash out some of their earnings on April 30. Cool

Therefore, FanBox has been rushing to get some clarity from the Internal Revenue Service before that date, and I am happy to announce the following new rules -- effective today, April 22nd. Until further notice:

(Got questions? I encourage you to forward any questions you have -- about how this may pertain to you -- to your tax advisor, as I am not and cannot provide you with tax advice).

7563 Comments

great, if there will be an income, hopefully... of course you will pay taxes

39 months ago

sooo having them take it out and cover the irs will be better than the irs hunting you down and taking it out in the future is what Im getting? I didnt even think this far. Would we have to pay the 28% ourselves if you didnt do it automatically?

39 months ago

Yes from my experience the Fanbox deducted 30% from our cash out if not mistaken, Actually i dont mind. When i cash out 204.50 from my first cheque i only received 143usd, It alright because we not spending even a single cent as long as we get it.

39 months ago

things to sort out

39 months ago

yes we should pay tax of cause. their gov should tax us, it no problem for me and should understood

39 months ago

Malaysia is not on the list, would it withhold the amount of the payouts? Or, should I sent some kind of form?

39 months ago

Thanks for the info Mr. Cash. It looks like I will have to fill out the foreign national residing in the U.S. form.

39 months ago

As citizen had to pay income taxes, other than property tax.
Good info, thanks

39 months ago

Thank you. Just sent my W-9. Fanbox rocks!

39 months ago

thanks

39 months ago

Disclaimer:

Here's my best answers, although I am not a tax adviser - please check with your adviser:

Ivy: Yes, U.S. residents will need to pay it themselves if they don't have FanBox take it out.

Melvin: You will get all of your cash out; you need to talk to your own government, although FanBox will not report your earnings or anything to your government.

Way to go Rose! You are faaaasssssttttt!!!!!!!

39 months ago

Johnny in order to deduct ads from taxes, we would list the entire amount of earnings from fanbox - the price we paid for the ads. It would be just like a business. For that matter if we have to fax the W-9 to fanbox, we would be able to deduct the amount we spent to fax it. And if we are paying taxes on this income as a business, it would be advisable to talk to the tax adviser about deducting a portion of the price we pay for out internet connection and possibly a depreciation deduction on our computer. Talk to the tax adviser about other possible deductions as well.

39 months ago

Also on taxes, we will need to pay the social security and medicare no matter what, but if a person's income falls under the taxable amount, they will not have to pay federal tax on the earnings. I live in one of the few states that doesn't have a state income tax so I've never filed it, but I am pretty sure for you that live in states with state income taxes, your state will want a piece of it too unless once again your state is like the feds and your income needs to be above the taxable amount.

39 months ago

Those are great points, Angel!

If you work in your jammies like JoLynn does :) perhaps you can deduct the cost of your jammies!

I also know that, if you work out of your house, you can deduct some of your rent or mortgage -- because that's your place of business! Again, only one guy's opinion and I am not an adviser.

39 months ago

Even the gas to go to the UPS store to have it faxed.

39 months ago

hahaha jammies.. soo gooofy =P

39 months ago

thanx 4 d info...hmmmm

39 months ago

I run a 501(c)3 non-profit Native American religious association, and we don't pay taxes. Any money received on this site will go to furthering the empowerment of women and the return to a matriarchal form of government in the world. We primarily teach Cherokee Medicine, Tibetan Shamanism and Mahakali Tantra, and we run the Mahakali Storm Initiations on a world-wide basis at each New Moon. You can read about these activities, and about Naturopathic and Shamanic Services, Inc. at www.NakedShaman.net.

39 months ago

I never knew that I have to pay taxes on my posts revenues. Anyway, it's very nice to know. This is a good post of information. Thanks very much for sharing; this is really appreciated.

39 months ago

THANX SIR I AM FROM INDIA N NOW I THINK I'LL RCV FULL AMOUNT. ONE THING MORE I WANT TO BRING IN UR KIND NOTICE, THAT " MY CASH OUT IS STILL PENDING PLS REALEASE THE AMOUNT.
THANKS
REGARDS
ATUL DIXIT

39 months ago

Atul, this is not customer service. This is a blog post. Blog posts have topics, and people talk about those topics in the comments. But they don't shout out requests for customer service in those posts - they write to customer service to get that.

39 months ago

JC,

thanksa lot for the info.
very impressive.

:)
me

39 months ago

good info JC

39 months ago

Thanks for the info

39 months ago

I was surprise can get cash out from Fanbox, but its wonderful of this website i am interest in it we can sharing and learn more some idea in life so fantastic.... thanks

39 months ago

many many thanks

39 months ago

I like your Avata

39 months ago

If I don't provide a W-9 to fanbox and they just send the withheld money to the IRS, how would the IRS apply the withholding to me with no social security number? For the money to be applied to me I would think the IRS would need all of my information, otherwise it seems it might go into limbo??

39 months ago

When I started blogging, Fanbox asked me to fill out a W-9 before I could even cash out. Fanbox will have to send everyone out forms and have them fill it out before they can get paid, especially if the total YTD earnings is greater than $500. Fanbox won't withold any taxes, but they will report the amoounts to the IRS and send you a 1099-Misc, which you will have to report as income on your tax returns. Fanbox is probably preparing for this as we speak because people will want to cash out at April 30.

39 months ago

I just faxed my W-9 5 mins ago. How long before I can cash out?

39 months ago

i don't mind if they cut for tax. At my Departmen, Malaysian Publisher The foreign writters we cut 30% from their payment. It is rules and normal..

39 months ago

Thanks for the continuing info.

39 months ago

thanks J.C. for the good information!

38 months ago

Awesome info! I was wondering the same thing. Thanks so much for sharing!

38 months ago

Great information. thanks!

37 months ago

Good info..thanks! :-)

36 months ago

very much informative. thank you Johnny.

35 months ago


Thanks for the info.

35 months ago

kool needed to know that thanks

34 months ago