Quote:
Originally Posted by OverdueNudes
So i'm responsible for looking at my revenue? They don't have to send me a 1099?
I should assume any affiliate with my social security number is reporting my income?
And what about affiliates in which I made a sale, but have not yet been paid due to minimum payout amounts?
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US based companies are required to send out a 1099 for payments to individuals or companies over $600 in total in a calendar year to non-employees for 'contract type work' and for advertising (and a few other things). If payments total under $600 for an individual or company in that calendar year, they are not required to send a 1099.
Yes you and only you are responsible for tracking your income and expenses.
As far as sales that you haven't been paid on, it's likely easiest if you report your income on a cash basis (recording income when you receive payment) rather than an accrual basis (recording income at the time it happens). Therefore on a cash-basis if you didn't receive payment for it yet , it's not income yet.