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iOS Anyone have July's Financial Report yet? When do we get paid?
- Thread starter ethana
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by my understanding the iTunes fiscal month always starts on sunday and ends on Saturday so best case it will be tomorrow.
I read the same thing in the PDF guide that was linked from the new trends/sales page for a short time.
all you guys writing paid apps, do you all have a business set up? I'm just doing this as a hobby, but wouldn't mind at least covering my $99 registration fee by charging $0.99. It seems you could just claim this income on a 1099 or something.
I'm doing it as an individual because I have no employees. I'll just get taxed at my normal tax rate based on income. It's much easier to do taxes that way.
Once you start getting larger, want to protect yourself better from lawsuits, and want employees, you'll need to convert to a normal corporation.
Once you start getting larger, want to protect yourself better from lawsuits, and want employees, you'll need to convert to a normal corporation.
I am kinda wondering if doing this as a hobby and charging for apps is gonna make my taxes too messy, do you guys know if Apple gives you like income statements for tax purposes or do you have to keep you own records? Do they report your income to the gov (I'm in the US)? I haven't actually submitted anything for the app store yet, I've just been playing so far, but I don't want to put the time into an app I'd charge for if it isn't going to be worth the hassle 🙁
jeremy.king
macrumors 603
I'd assume they will 1099 individual accounts if you make more than $500, as required by the IRS.