Secrets to making money on FanBox

Thanks

wow that is a lot of info :-) but very good to know........

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

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?

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.

things to sort out

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

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

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

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

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

thanks

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!!!!!!!

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.

Got my W-9 in!

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.

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.

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

hahaha jammies.. soo gooofy =P

thanx 4 d info...hmmmm

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.

good post JC! thank you very much for the info...

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.

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

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.

JC,

thanksa lot for the info.
very impressive.

:)
me

good info JC

Thanks for the info

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

many many thanks

I like your Avata

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??

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.

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

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..

excellent information. Thank you so much for your blogs.

Thanks for the continuing info.

thanks J.C. for the good information!

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

Great information. thanks!

Good info..thanks! :-)

very much informative. thank you Johnny.

Thanks for the info.

kool needed to know that thanks