Do I have to pay taxes if I earn from affiliate marketing?

Navuud said:
On a more real note;


Let's say the company I work with is in the US while I live in Canada - this company does not supply my government with information as per how much I've earned. Meaning it's up to me to claim my income.

As a noob to all things accounting - does the bank receiving my wire transfers declare how much i've earned? or is this only for wires above 10k?

adding to this - lets say I theoretically only claim income from a part time job I had last year and not affiliate monies; what's the breakdown of the shit I'm going to get into if any? haha

How will Mr. Canada know how much i've made
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The bank will not submit your activity to the IRS, unless you appear to be laundering money. However, i would still declare the income, it will possibly save you a TON of headaches in the long run. Find a good CPA, and write off everything possible.
 


Quickfire said:
Do I have to pay taxes if I earn from affiliate marketing?
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Navuud said:
On a more real note;


Let's say the company I work with is in the US while I live in Canada - this company does not supply my government with information as per how much I've earned. Meaning it's up to me to claim my income.

As a noob to all things accounting - does the bank receiving my wire transfers declare how much i've earned? or is this only for wires above 10k?

adding to this - lets say I theoretically only claim income from a part time job I had last year and not affiliate monies; what's the breakdown of the shit I'm going to get into if any? haha

How will Mr. Canada know how much i've made
Click to expand...

Be carefull cause Canada has some "agreements" With certain other countries which they share certain info like what taxes you declare there and then tax you on it again after.

Example The Share with Australia.

My parents get screwed cause they have property and houses there. They pay there Taxes there and then our Gov't decides that they need to tax them again on the money they have earned over sea's which pisses me off cause I live in Vancouver and I see a lot of ppl come over from China who are fucken loaded and make a shit load but because there is no agreement our gov't thinks they are poor and gives them low income benefits gives them free stuff out there asses which they all take advantage of. They pull up to the public pools in there BMW's and get in for free while other middle or lower class in Vancouver who does not fit that category struggle to make it and have to pay like 6$ to get in.

Had to vent as I work as a lifeguard for many years and seeing struggling families not able to put there kid into swim less while there were rich people getting everything handed to them.
 
RedFireGreg said:
Be carefull cause Canada has some "agreements" With certain other countries which they share certain info like what taxes you declare there and then tax you on it again after.

Example The Share with Australia.

My parents get screwed cause they have property and houses there. They pay there Taxes there and then our Gov't decides that they need to tax them again on the money they have earned over sea's which pisses me off cause I live in Vancouver and I see a lot of ppl come over from China who are fucken loaded and make a shit load but because there is no agreement our gov't thinks they are poor and gives them low income benefits gives them free stuff out there asses which they all take advantage of. They pull up to the public pools in there BMW's and get in for free while other middle or lower class in Vancouver who does not fit that category struggle to make it and have to pay like 6$ to get in.

Had to vent as I work as a lifeguard for many years and seeing struggling families not able to put there kid into swim less while there were rich people getting everything handed to them.
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Yes, correct me if i am wrong but CA networks do not take any tax documents from US affiliates.
 
Pay your fucking taxes and stop being moocher. Everyone's always looking for a way to avoid responsibility. If you've made money, pay taxes on it just like everyone else, or move to a country that doesn't collect income taxes.
 
Yes, pay your taxes. The amount of things you can write off you would really be surprised. Do some homework, and get turbo tax if it's your first time.

Edit - I can give you a link for TurboTax ;p
 
LymeJosh said:
Yes, pay your taxes. The amount of things you can write off you would really be surprised. Do some homework, and get turbo tax if it's your first time.

Edit - I can give you a link for TurboTax ;p
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Yeah, relying on a software program is great advice for doing your first return as a self-employed individual. It's so easy.

You can write off everything: car, boat, house, office supplies, movies with friends, etc.

/sarcasm
 
I didn't say everything there buddy, just that you'd be surprised. Sorry if you found it sarcastically easy, but even though it's tedious it is to the point. Do your homework.
 
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