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10-01-2015, 11:29 AM | #1 |
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Just got a USA payment processing when should I start paying taxes?
IN the USA, I have never paid taxes in the USA, I get very small international wires amounts of money a month like $500 dlls a month, or can I just not file any taxes because the amounts are very small?
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10-01-2015, 11:35 AM | #2 |
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Depends on the situation. If you are a US Citizen or living in the US etc, then you need to talk to a tax lawyer.
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10-06-2015, 02:14 AM | #3 |
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putas... where are you based?
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10-06-2015, 05:42 AM | #4 |
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If you don't have a presence or residence in the US, you will need to declare your income from the US in your country of residence. Let's say you are based in Spain, then you will need to declare US income to Spanish revenue service, not to the Americans.
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10-06-2015, 06:50 AM | #5 |
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If the payments are from a US company they more than likely are subject to 30% federal withholding but I think that is the responsibility of the sender.
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10-06-2015, 08:27 AM | #6 |
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I have never experienced that with anybody being paid from a US company. A 30% withholding tax for foreigners is just applied on capital gains, but not on income/invoices.
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10-06-2015, 08:51 AM | #7 |
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never bro fuck it man
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10-06-2015, 01:20 PM | #8 |
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I?m not an account but I do believe payment to foreign workers/contractors from U.S source income is subject to at a standard flat rate of 30%.
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10-09-2015, 09:48 PM | #9 | |
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(Wish I knew how to link it) but it does look legitimate. Actual tip was 1,110,997 tokens which would amount to around $55,000.00 to the model who is located in Spain. Are you saying she will receive that money tax free? |
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10-10-2015, 03:19 AM | #10 |
It's 42
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https://www.irs.gov/Businesses
https://www.irs.gov/Help-&-Resources Did you try asking the payment processor? |
10-10-2015, 03:35 AM | #11 |
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Welcome to - G F Y & R Block.
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10-10-2015, 07:34 AM | #12 |
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10-10-2015, 09:55 AM | #13 |
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Depends what State you live man, there's a $600 rule.
If just got into the US, you have to do your taxes next year before April 15th. Check this forum out: Please explain the $600 minimum amount for 1099 rule You can also go to a H&R Block that have a Spanish speaker and they'll give you a free consultation.
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10-10-2015, 01:39 PM | #14 | |
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10-10-2015, 04:18 PM | #15 |
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No you puta...you don't need to pay no stinking taxes!
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10-10-2015, 04:28 PM | #16 | |
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Then at the end of the year she will need to report all of her income in Spain and pay taxes accordingly to the Spanish revenue service..
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10-11-2015, 04:19 AM | #17 | |
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Publication 515 - Internal Revenue Service Withholding of Tax In most cases, a foreign person is subject to U.S. tax on its U.S. source income. Most types of U.S. source income received by a foreign person are subject to U.S. tax of 30%. A reduced rate, including exemption, may apply if there is a tax treaty between the foreign person's country of residence and the United States. The tax is generally withheld (chapter 3 withholding) from the payment made to the foreign person. MFC is big company that sends all kinds of money to foreigners and I doubt they would run the risk of being held liable for all those taxes, it would wipe them out. |
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10-11-2015, 05:38 AM | #18 | |
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Just look at the big company CCBill: they don't withhold 30% of payments to foreigners. It's the model's responsibility to file her taxes in Spain. They are way higher than in the US, anyhow. She won't be able to duck that because most payments over 3000$ are reported to the revenue services in one way or another.
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10-11-2015, 07:01 AM | #19 |
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talk to a lawyer
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10-11-2015, 11:23 AM | #20 |
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can assist
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10-11-2015, 03:40 PM | #21 | |
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?a foreign person is subject to U.S. tax on its U.S. source income?. CCBill considers itself just a processor for the transaction and not any particular foreign person?s source of income, unless of course their employees who I am sure pay income tax. As for the models responsibility to file taxes in Spain is totally irrelevant, the IRS could less about that. |
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10-12-2015, 05:55 AM | #22 | |
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https://www.irs.gov/uac/Form-W-8BEN,...ax-Withholding https://www.irs.gov/instructions/iw8ben/index.html Don't get accounting advise from GFY. Pay an accountant or figure this out yourself. Only US entities are generally bound to US tax laws. Payment processing is not a taxable transaction unless there is an IRS or Tax Court order that would attach proceeds. In order to have US processing you need to be a US entity ( LLC or Corporation). Any US entity, even if a foreign incorporation, has domicile in the USA and must file a tax return. Get a CPA to deal with it and pay him ... |
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10-12-2015, 12:07 PM | #23 | |
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Either way, passive income from the US has never been taxable at the source. All foreign affiliates with revenue from US companies are getting paid in full, always have. Then they pay taxes or not depending on where they reside. If you find out otherwise most foreign GFYers would owe Millions of back taxes. ROFL.
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10-12-2015, 12:26 PM | #24 | |
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giving my opinion about money earned by MFC (almost $100,000.00) from a foreign person/source, in this case a cam girl as being taxable, because a few in here are saying it is not taxable. Yet the Department of Treasury Publication 515 states that a US company paying a foreign person is subject to U.S. Internal Revenue Service tax of 30% and has to be filed with the IRS with the appropriate forms. Could you imagine the consequences if a site as large as MFC who are paying millions of dollars a week to foreign workers did not deduct the appropriate 30% tax? They would be ruined. |
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10-12-2015, 12:35 PM | #25 |
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can you say 'insular'
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10-12-2015, 01:58 PM | #26 | |
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Take myself for an example, I am not a US tax subject. I do not run a company in the US, I do not reside in the US, I do not own property in the US and so on. I pay my taxes in my country of residence and file a W8Ben form with each sponsor, which basically states that there is a tax treaty between the US and the country where I pay taxes and because of that, no tax will be paid or withheld in the US. Instead, the sponsor will pay me in full and I have to save a bit for the tax man myself. Your opinion, as you state it, has no value here. What you "think" doesn't matter. Several have already explained how it works and why you are wrong. You obviously need to either accept that or go back and read the tax law again, again and again.
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10-12-2015, 03:06 PM | #27 | |
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What that person does or does not do with the money when it gets to their country is of no relevance but the law pertaining to taxes on that money before it leaves this country is quite clear and subject to U.S. tax of 30%. |
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10-12-2015, 03:19 PM | #28 | |
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10-12-2015, 03:25 PM | #29 | |
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People like you should not handle money, so you should definitely pay double tax!
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10-13-2015, 04:29 AM | #30 |
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What a moron.
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10-13-2015, 04:40 AM | #31 | |
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https://www.irs.gov/Businesses/Small...ed-or-Employee
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10-13-2015, 04:49 AM | #32 |
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spot the person in this thread who has never owned a program
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10-13-2015, 04:56 AM | #33 |
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https://www.irs.gov/Individuals/Inte...ng-Obligations
https://www.irs.gov/Individuals/Inte...RA-Withholding Hire a CPA or a PA -- you know jack-shit about US tax laws. You are also taking the IRS tax code out of context. You are just making a fool out of yourself |
10-13-2015, 05:03 AM | #34 |
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A funny thread
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10-13-2015, 05:19 AM | #35 | |
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10-13-2015, 05:36 AM | #36 | |
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Its true business are not required to withhold from independent contractors but they are required to have the contractors SS# or FIN number and other information available for tax purposes. Something they can not obtain from foreign workers and that is why they are required to withhold 30% of money sent to foreign workers. It’s done because once the money leaves the US they have no way of taxing it; I don’t know what is so difficult to understand. |
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10-13-2015, 05:40 AM | #37 |
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10-13-2015, 06:07 AM | #38 | |
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however, the contradictions of information here should go a long way to convince anyone to talk to a lawyer regarding taxes and tax laws.
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10-13-2015, 10:31 AM | #39 | |
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Being real, live, walking, talking, overseas affiliates who get paid from non-fly-by-night operations such as: every US sponsor ever, in both adult & mainstream = people who didn't actually research? Alrighty then - I for one am very glad you came along to set the record straight. Give the IRS a call, I'm sure they'll be pleased to hear they have billions in unpaid tax to collect thanks to you grasping what nobody else can. |
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10-13-2015, 10:50 AM | #40 | |
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How come they ever let you out of special ed? I assume you still have a guardian, to watch over you and your financials so you do not fuck it up even worse? Why don't you give the IRS a call and maybe, just maybe, they will be able to explain it in a plain enough language that even someone like you would, eventually, be able to understand. Again, someone, who is not a US tax subject, does not pay taxes in the US nor do we submit any tax returns. There is no need for someone who is not a US tax subject to ever have to deal with the IRS. Instead, we deal with the local tax authorities of respective country. As of today, I submit to four countries already, I certainly do not need a fifth. If you were anywhere near that "jet set", you'd know that too... Being able do walk out of the hood area, where you seem to have lived all your life, don't make you a jet setter
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10-13-2015, 01:47 PM | #41 | |
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Again, I never said someone, who is not a US tax subject, has to pay taxes, submit any tax returns or deal with the IRS in any way. That is why the IRS says that a domestic company that obtains revenue from a foreign person/source is subject to U.S. Internal Revenue Service tax of 30% and it is the responsibility of the US Company to deduct it. MFC seems to fit perfectly into that category and that is why I am saying they would be insane not to make that deduction. They are required to make appropriate deductions for their employees and submit them quarterly, they are required to obtain US1099 information for their US contractors, so are you saying that the IRS position is, just tax the money you made from US residents and forget about the foreigners? |
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10-13-2015, 03:01 PM | #42 | |
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Yes, the foreigners are not subject to US taxation. I mentioned it before, but since you seem a little slow, I dug up the link here for you, read, watch and learn: https://www.irs.gov/pub/irs-pdf/fw8ben.pdf And while you're at it, do give the IRS a ring or by all means, hit up MFC or Chaturbate and try to tell them they are wrong... It is, in fact, you who look like a fool, since you have not done enough research to fully understand how it works. I didn't, however, expect anything else from an ignorant fool.
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10-13-2015, 09:41 PM | #43 | |
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Is post a link to form W-8BEN? I feel so let down I’m almost in tears, how am I ever going to prove my point. By the way do you know what form W-8BEN is and its purpose? I’m sure you don’t. So I’m going to extend you the courtesy to do a little more digging and correct yourself before I make you look like the imbecile you are. You really are not John Koskinen, what a relief. |
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10-13-2015, 10:41 PM | #44 |
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If you don't live in us you don't pay taxes to us.
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10-13-2015, 10:43 PM | #45 |
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1099 forms are ONLY for us contractors, I.e. an affiliate who lives in the us.
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10-13-2015, 10:48 PM | #46 |
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A us business owner does not take out 30% for money made from foreigner and give to irs.
I'm not sure what's happening in this thread but any money that is sent from us company to outside us is not required to pay an additional irs tax on it. Opposite, it's called a write off. |