About two months ago I came in contact with someone that does online affiliate marketing I had done it before but with minimal success.
With him onboard we worked the campaigns for a bit and made just over 3k in a month.....
The problem he is from Mexico so all documents were entered using my information (SSN,Name, etc.) for tax reporting that will be done by the affiliates that pay us.
They will be sending me a 1099 at the end of the year and all the information on it will be under my name.
I have already setup a seperate bank account for depositing the payment checks.
I have tried reading up into this and have found very little information that would help me.
What I have understood is that I may need to do the following (feel free to correct me):
1) Get the person I am sending a payment to provide me with a form W-8
Come tax time I would need to:
1) Submit Schedule C - Marked as Contract Labor
I am paying him using Paypal so that I can have a record of all payments sent to him.
Any help would be appreciated...
With him onboard we worked the campaigns for a bit and made just over 3k in a month.....
The problem he is from Mexico so all documents were entered using my information (SSN,Name, etc.) for tax reporting that will be done by the affiliates that pay us.
They will be sending me a 1099 at the end of the year and all the information on it will be under my name.
I have already setup a seperate bank account for depositing the payment checks.
I have tried reading up into this and have found very little information that would help me.
What I have understood is that I may need to do the following (feel free to correct me):
1) Get the person I am sending a payment to provide me with a form W-8
Come tax time I would need to:
1) Submit Schedule C - Marked as Contract Labor
I am paying him using Paypal so that I can have a record of all payments sent to him.
Any help would be appreciated...