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Reporting Earnings from Constant Content to the IRS

Many authors at Constant Content ask how they should go about reporting earnings come tax time. Because Constant Content uses PayPal, authors can easily use the "history" feature with their PayPal account to identify payments made to them over the course of the year. Use this amount to report your freelance earnings from Constant Content. (Note: Constant Content does not report authors' income to the IRS. This is the responsibility of each individual author, just like sellers on eBay are responsible for reporting the income they make from online auctions.)

Authors on Constant Content go about organizing their Constant Content freelance income and IRS payments in different ways, and some of the more experienced ones can offer advice in the forums (if you ask them nicely after checking to see if your question has already been answered elsewhere). However, if you're really concerned about making the right payment amount, it's best to take your information to a tax professional who can explain to you what you owe according to your employment status, freelance income, and relevant deductions.

In the end, hiring a professional may cost you less than filing by yourself through electronic tax programs (these can be expensive, confusing, and can induce hyperventilation). Plus, if you suffer from discalculia, anxiety, starving artist syndrome, audit-phobia, or some other disorder, you'll be better off having someone walk you through the process, explain the steps taken, and suggest potential deductions you can make as a writer.


December 2007
Author: constant-content | Category: Money | Comments(0)

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